LSCU Compliance Team helps CUs prepare for tax time

Another year has flown by, and now it is time to start your credit union’s tax forms preparation. In this Compliance Bulletin, you will find a Year-End Reporting Schedule that lists due dates for tax forms and other reports that credit unions are required to submit annually.

The General Instructions for Forms 1098, 1099, 5498, and W-2G are available on the IRS’ website at http://www.irs.gov/pub/irs-pdf/i1099gi.pdf.  The IRS operates a centralized call site Monday through Friday from 8:30 a.m. – 5:30 p.m. ET to answer questions about reporting on information returns.  The toll-free telephone number is 866-455-7438.

If you have any questions, please contact Compliance Services at 800-768-4282 or 770-476-9625 for assistance.  You may also email us at compliance@lscu.coop.