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#2187876 - 08/02/18 08:56 PM CRA resubmissions after bank merger
GTS333 Offline
Gold Star
Joined: Jun 2010
Posts: 257
I can't seem to find the answer to this CRA reporting question, so hopefully someone here will have some insight. Here's my scenario.

In 2017 financial institution A filed their CRA data using their Respondent ID, and financial institution B separately filed their CRA data using their Respondent ID. Sometime after that, institutions A and B merge to form institution C, but there is a resubmission of CRA data needed for institution A's 2017 data. So the question is, for that resubmission would institution C resubmit that 2017 CRA data using Institution A's Respondent ID in the filing? Or under institution C's Respondent ID since that's really the only remaining institution at this point??

Thanks in advance.
My opinion, take it for what its worth. Opinions expressed are my own and not those of my employer and are not legal advice.

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#2188346 - 08/07/18 09:41 PM Re: CRA resubmissions after bank merger GTS333
mrogersfib Offline
100 Club
Joined: Aug 2018
Posts: 116
Let's say two institutions, each of which are required to collect and report the data, merge. Data collection is required for the entire year of the merger and for subsequent years, so long as the surviving institution is not exempt. The surviving institution may file either a consolidated submission or separate submissions for the year of the merger but must file a consolidated report for subsequent years.

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