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About
About
Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
Regulation & Supervision
Regulation & Supervision
The NCUA protects the safety and soundness of the credit union system by identifying, monitoring and reducing risks to the National Credit Union Share Insurance Fund. Backed by the full faith and credit of the United States, the Share Insurance Fund provides up to $250,000 of federal share insurance to millions of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.
Analysis
Analysis
The NCUA’s economists and analysts compile data on the credit union system’s financial performance, merger activity, changes in credit union chartering and fields of membership, as well as broader economic trends affecting credit unions. Users can find information on a single credit union or analyze broader nation-wide trends.
Support Services
Support Services
The NCUA provides a number of support services to the credit union system, such as providing training, grants and loans, chartering, and field-of-membership services; maintaining the health and stability of Share Insurance Fund; managing the assets of failed credit unions; and providing emergency liquidity.
Consumers
Consumers
The NCUA works to protect credit union members and consumers, raise awareness of potential frauds, facilitate access to affordable financial services, and educate consumers on the importance of savings and how they can improve their financial well-being.
News
News
Stay up to date on the NCUA's activities by subscribing to the NCUA's Express messages. Read press releases, speeches, testimony, and Annual Reports. Register for upcoming conferences and events.
Cybersecurity Resources
Cybersecurity Resources
Cyberattacks and cybersecurity vulnerabilities pose significant risks to the financial system. Because of vulnerabilities within the credit union industry and the broader financial system to potential cyberattacks, cybersecurity is one of the NCUA’s top supervisory priorities and a top-tier risk under the agency’s enterprise risk-management program.

IRS Form 990 Filing Requirement for Federal Credit Unions

98-0435 / May 1998

IRS Form 990 Filing Requirement for Federal Credit Unions

Subject

Tax Exemption

Historic Status

Non-historic

Mr. Marc Shafroth
CUNA - Economics & Statistics Department
5710 Mineral Point Road
Madison, Wisconsin 53705-4454

Re: IRS Form 990 Filing Requirement for Federal Credit Unions.

Dear Mr. Shafroth:

You have written to request information concerning Internal Revenue Service (IRS) Form 990, which is an informational return required to be filed by certain tax-exempt organizations. You indicated that a CPA firm contacted you and asked whether NCUA files a consolidated Form 990, and if so, if it uses year-end call report data. Federal credit unions (FCUs) are not required to file a Form 990.

Prior to 1988, NCUA had filed a consolidated Form 990 for all FCUs. In 1988, in response to an NCUA inquiry, the IRS responded that FCUs are not required to file a Form 990. NCUA addressed the issue of filing a consolidated Form 990 in its Letter No. 100 to Credit Unions, dated October 27, 1988, a copy of which is enclosed for your reference. Also included is the attachment to Letter No. 100, which is the letter to NCUA from the IRS explaining its determination.

Sincerely,

/s/

Sheila A. Albin
Associate General Counsel

OGC/DMS:bhs
SSIC 3210
98-0435

Last modified on

11/14/24