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TIPs: IRS FORM, STATE ESCHEAT PERIOD
updated 05/03/14 10:40 AM
Also, CUSO Rule Reminder
Two new TIPs Bulletins (Technical Information and Procedures) have been posted regarding California’s report-and-remit period for unclaimed property and the IRS’s Form 990 filing deadline.

TIPs Bulletin 14-08 highlights how the upcoming report-and-remit period is the second of a two-part process by the California State Controller’s Office.

Reminders and resources are provided regarding the UFS-1 form, correct listings of property owners, standard NAUPA II reporting (National Association of Unclaimed Property Administrators), paper reporting, remitting, and reporting to other states.

TIPs Bulletin 14-09 reviews how state-licensed/chartered credit unions must file IRS Form 990-Return of Organization Exempt from Income Tax, or file for an automatic three-month extension by May 15 (or by the 15th day of the fifth month after the credit union’s accounting period ends).

This bulletin includes helpful information surrounding the due date, exemption for federal credit unions, electronic filing, penalties, and other pertinent resources.

CUSO Rule Reminder
As a reminder, the National Credit Union Administration’s (NCUA) final rule to amend its credit union service organization (CUSO) regulation takes effect June 30.

The agency says the rule will increase transparency and address certain safety and soundness concerns.

 
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STATE CANDIDATE VISITS CU LEADERS updated 07/29/14 11:06 AM
Bates Engages With CEOs, Staff
Credit union leaders in Orange County gathered at Eagle Community CU last week to meet with Fifth District County Supervisor Pat Bates.

WCMS HONORS 2014 GRADUATING CLASS updated 07/29/14 09:58 AM
Weidler Receives 'Highest Honors'
Nearly 90 students from the “Mu” Class proudly received their Western CUNA Management School (WCMS) diplomas last Thursday night at Pomona College in Claremont, CA, where a lively audience cheered another successful send-off of credit union leaders who are devoted to keeping the credit union philosophy alive.

NATIONAL REG ADVOCACY TOOL LAUNCHED updated 07/25/14 01:55 PM
'PowerComment' Combats Burdens
PowerComment, a highly-interactive online resource that helps credit unions take their regulatory concerns directly to regulators, was officially announced today during the summer American Association of Credit Union Leagues (AACUL) meeting.

CELEBRATE 100 MILLION MEMBERSHIPS updated 07/24/14 03:42 PM
National Awareness Campaign
The credit union movement is on pace to reach 100 million memberships this summer. To commemorate this milestone, the Credit Union National Association (CUNA) launched the “100 Million Memberships” campaign, and invites all credit unions to participate.