NCUA
Reinstates Civil Money
Penalties for Late Call Report Filing
ALEXANDRIA,
Va. (Nov. 28, 2023) – The National Credit
Union Administration today announced that it will reinstate assessing
civil money penalties for credit unions failing to submit NCUA Form
5300 Call Report on time, effective January 1, 2024.
“The
program was suspended after the December 2019 cycle due to the COVID-19
pandemic,” NCUA Chairman Todd M. Harper said. “It is now time to
reinstate the program to ensure we provide credit union members, the
financial services stakeholders, other regulators, and the public with
the most accurate and up-to-date quarterly Call Report data on a timely
basis.”
The
December 2023 Call Report will be the first reporting cycle under the
reinstated program and will be due by 11:59:59 p.m. Eastern time,
January 30, 2024.
View the entire press release
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