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Hatch letter to IRS suggests new CU reporting requirements

admin1 min readApril 24, 2018

Yesterday, Senate Finance Chairman Orrin Hatch (R-Utah) sent a letter to IRS Acting Commissioner David Kautter asking whether some federal credit unions should file a Form 990 to provide additional information to the IRS. The letter followed a response missive (here) from NCUA Chairman Mark McWatters’ to Hatch addressing the continued relevance of the credit union […]

Yesterday, Senate Finance Chairman Orrin Hatch (R-Utah) sent a letter to IRS Acting Commissioner David Kautter asking whether some federal credit unions should file a Form 990 to provide additional information to the IRS. The letter followed a response missive (here) from NCUA Chairman Mark McWatters’ to Hatch addressing the continued relevance of the credit union tax exemption.

CUNA followed up with a joint letter detailing credit unions’ mission and structure, the reasons for the credit union tax status and CUNA President/CEO Jim Nussle issued a statement on NCUA’s response Monday.

Read the article at CUNA News.

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