So let me get to the point; the IRS wants to be notified when the section treasurer changes. Fill out IRS form 8822-B.
The finance committee is responsible for communicating requirements to sections and MALs. When a change happens, as leaders, you cannot communicate enough. Let’s talk about the latest change the finance committee needs the section leadership to know. The IRS has put out a memo saying that each new person responsible for finances at an EIN number (that is you, section treasurer) must report the change within 60 days. Relax, they are not trying anything nefarious, they just need to be able to communicate with the right person. This has led to questions, lots of questions. We asked the IRS and this is what we have determined: If the new treasurer files the 990-N e-postcard within 60 days of taking the post, the IRS considers that sufficient. If you do not file within 60 days, or if you change officers for other reasons during the year, fill IRS form 8822-B. This form can be found on the IRS website. Please update your transition checklist. https://www.irs.gov/forms-pubs/about-form-8822-b
The Society of Women Engineers (SWE) Finance Committee is a standing committee dedicated to fiscal interests within SWE. If SWE finance questions arise, please email the SWE Finance Committee at firstname.lastname@example.org or visit us during our office hours. Office hours are generally held every month and at Annual Conference. The Executive Council does not have to go it alone with our SWE annual fiscal process.