2023 Year-End Processing
Bulletin #3: November Deadline Reminder
REMINDER: We are no longer mailing paper copies of the year-end processing guide to your credit union! Keep an eye on Client News and these bulletins for important information, vendor updates, deadline changes, reminders, and more.
Updates and Information
November 10th, 2023
Time is closing in on your first year-end deadline; you must complete your Tax Form Handling Instructions (Tool #916) (or return the Tax Forms Archival Instructions form, for our self-processors) by Tuesday, November 14. This first deadline is a critical task, as it kicks off the year-end process for your credit union and tells our Operations teams how to service your credit union’s tax needs for the rest of the season. Do not miss this important step! Remember that even if nothing has changed since the previous year, you still must access Tool #916 and select to Confirm/Update to record your task as complete! If your screen has not been updated by the deadline, you may be assessed a fee.
See the guide below for more details on this task, and others, to keep on track with processing.
Updates and Information
Year-End Processing Guide for Online Credit Unions
Year-End Processing Guide for Self-Processing Credit Unions
Year-End Processing Guide Supplement: 1042-S Tax Forms
Year-End Tax Forms Archival Instructions: Self-Processing CUs
Month-End Processing Verifications
Remember to Sign Up for a Training Session:
Tuesday, November 14
9:30 -11:00 AM ET
Tuesday, November 21
3:30 – 5:00 PM ET
Thursday, December 7
3:00 – 4:30 PM ET
Our Advice for a Smooth Year-End
- Select a coordinator to assign tasks and ensure they are complete.
- Review the guide carefully, including any post-publication updates.
- Review deadlines in advance to avoid missing a task and incurring a fee.
- Have all year-end staff attend year-end training.
- Pay special attention to year-end emails as requirements may change.
- Ask questions! Our teams are here and ready to assist.
As always, be sure to keep on track with your Month End Processing Tasks.
We look forward to making year-end 2023 another successful team effort!
