CU Compliance News

Filing Reporting Audit Training Board Texas CUD

All Compliance Events

Filing

HMDA Data Submission Deadline

CFPB Annually · Day 1

Annual Home Mortgage Disclosure Act data submission due to CFPB.

Regulatory source →

IRS Form 5498 Filing (IRA Contributions)

IRS Annually · Day 31

File Form 5498 with the IRS and furnish copies to members reporting IRA contributions, rollovers, and fair market values for the prior tax year.

Regulatory source →

IRS Form 990 Filing Deadline

IRS Annually · Day 15

State-chartered credit unions must file Form 990 with the IRS. Due by the 15th day of the 5th month after fiscal year end.

Regulatory source →

IRS Member Tax Forms Due (1099-INT/R, 1098)

IRS Annually · Day 31

Furnish Forms 1099-INT (interest income), 1099-R (IRA distributions), and 1098 (mortgage interest) to members. Hard IRS deadline with penalties for late delivery.

Regulatory source →

IRS/SSA E-Filing Deadline (1099s, W-2s)

IRS Annually · Day 31

E-file all 1099 forms with the IRS and W-2/W-3 forms with the SSA. Institutions filing 10+ returns must e-file. Paper deadline is February 28.

Regulatory source →

NCUA Call Report (5300) Due

NCUA Quarterly · Day 30

Quarterly Call Report Form 5300 due by 11:59 PM ET. Filed via CUOnline.

Regulatory source →

NCUA Operating Fee Assessment

NCUA Quarterly · Day 15

Quarterly operating fee invoice from NCUA based on insured shares and deposits.

Texas CUD Operating Fee (1st Installment)

Texas CUD Annually · Day 30

First semi-annual operating fee installment for state-chartered Texas credit unions. Billed September 1, due September 30. 10% monthly late penalty applies.

Regulatory source →

Texas CUD Operating Fee (2nd Installment)

Texas CUD Annually · Day 30

Second semi-annual operating fee installment for state-chartered Texas credit unions. Billed March 1, due March 30. 10% monthly late penalty applies.

Regulatory source →

Texas CUD Quarterly Financial Report

Texas CUD Quarterly · Day 30

State-chartered Texas credit unions must file quarterly financial reports with the Texas Credit Union Department.

Regulatory source →

Reporting

FinCEN CTR Filing Reminder

FinCEN Monthly · Day 1

Monthly reminder to verify all Currency Transaction Reports are filed within 15 days of transactions exceeding $10,000.

Regulatory source →

GLBA Annual Privacy Notice to Members

CFPB Annually · Day 31

Deliver annual privacy notice describing information-sharing practices per Regulation P. If FAST Act exemption applies, document the exemption determination annually instead.

Regulatory source →

NCUA Credit Union Profile Update

NCUA Annually · Day 31

Verify and update credit union profile information in CUOnline including field of membership and management officials.

Regulation Z - Annual Escrow Analysis Statements

CFPB Annually · Day 31

Annual escrow account analysis statements must be sent to borrowers within 30 days of analysis date.

Audit

ACH Audit Completion Deadline

NCUA Annually · Day 31

Annual ACH audit required per Nacha Operating Rules for all ODFIs and RDFIs.

Annual Information Security Assessment

NCUA Annually · Day 31

Annual assessment of information security program per NCUA Part 748 Appendix A including vulnerability assessments.

Annual Vendor/Third-Party Risk Review

NCUA Annually · Day 30

Annual due diligence review of critical third-party vendors per NCUA guidance.

BSA/AML & OFAC Risk Assessment Update

FinCEN Annually · Day 31

Annual BSA/AML risk assessment update with board approval. Distinct from independent BSA testing — this drives the entire AML/CFT program. Include OFAC risk assessment.

Regulatory source →

BSA/AML Independent Testing Due

FinCEN Annually · Day 31

Annual independent BSA/AML testing must be completed covering risk assessment, policies, internal controls, and suspicious activity monitoring.

Regulatory source →

Business Continuity Plan Test

NCUA Annually · Day 30

Annual BCP/DR test required. Document results and update plans based on findings.

Supervisory Committee Audit Due

NCUA Annually · Day 30

Annual audit by the Supervisory Committee or CPA firm. CUs with >$500M assets must obtain an opinion audit.

TRID Compliance Review

CFPB Quarterly · Day 30

Quarterly review of Loan Estimate and Closing Disclosure processes for TILA-RESPA Integrated Disclosure compliance.

Training

BSA/AML Staff Training Deadline

FinCEN Annually · Day 31

Annual BSA/AML training for all applicable staff and board members must be completed.

Board

Annual Meeting 30-Day Member Notice

NCUA Annually · Day 15

Written notice to members at least 30 days (but not more than 75 days) before the annual membership meeting. Must also be posted on CU website. Missing this deadline could invalidate the meeting.

Annual Membership Meeting & Board Elections

Internal Annually · Day 15

Annual meeting of members for board elections and financial reporting per bylaws.

Board of Directors Meeting

Internal Monthly · Day 15

Regular board meeting. Review financials, delinquencies, investments, new accounts, and compliance updates.

Fidelity Bond & Insurance Annual Board Review

NCUA Annually · Day 31

Board must annually review fidelity bond and insurance coverage for adequacy per NCUA Part 713. Pass resolution approving purchase/renewal.

Compliance Calendar