Welcome to 2024 Year-End Processing
Bulletin #1: Year-End Kickoff
Remember that 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.
STOCKHOLDER REMINDER: If you have not yet returned an updated W-9 form to the CU*Answers Accounting Team, you are now overdue. Please review the information needed and complete this task as soon as possible.
Updates and Information
October 22, 2024
The year-end processing guides have been published! As expected, there are not any large changes to member processing, but play close attention to the deadlines and changes throughout the guides.
- 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
ONLINE CREDIT UNIONS
As year-end begins, your first deadline comes quickly; you must begin reviewing and updating your Tax Form Handling Instructions (Tool #916) as soon as you are able. This screen must be accessed and updated prior to Thursday, November 14.
Remember that even if nothing changed since the previous year, you must still access the screen and select to Confirm/Update to record your task as complete.
SELF-PROCESSING CREDIT UNIONS
Please fill out and return your Tax Forms Archival Instructions as soon as you are able. This form must be received prior to Thursday, November 14.
Sign Up for a Year-End Training Session
Tuesday, November 12th
3:00 – 4:30 PM ET
Thursday, November 21st
9:30 – 11:00 AM ET
Tuesday, December 3rd
3:00 PM – 4:30 PM ET
Register for a Training Session
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 2024 another successful team effort!
