Skip to content
BOL Conferences
Thread Options
#699342 - 03/09/07 06:49 PM Biennial Renewal for Exempt Customers
BSAFrustration Offline
Gold Star
Joined: Aug 2006
Posts: 332
I'm fairly new to all of this so please bear with me. The deadline for having the renewal file is March 15th. Does that mean that the IRS has to receive it by March 15th or is it kind of like the date for filing taxes and just be post marked by March 15th? I would appreciate any response to my question. I would just like to know if I would be safe if it happens that some of my exemptions get post marked w/the 15th?
Last edited by BSAFrustration; 03/09/07 07:48 PM.
_________________________
Slow down and enjoy life or before you know it the good things in it will be gone.

Return to Top
BSA/AML/CIP/OFAC Forum
#699395 - 03/09/07 07:47 PM Re: Biennial Renewal for Exempt Customers BSAFrustration
2old2care Offline
Platinum Poster
Joined: Oct 2006
Posts: 712
PA
I have always had them "postmarked" by the 15th.

Return to Top
#699397 - 03/09/07 07:50 PM Re: Biennial Renewal for Exempt Customers 2old2care
BSAFrustration Offline
Gold Star
Joined: Aug 2006
Posts: 332
Thank you 2old2care. I like the screen name!
_________________________
Slow down and enjoy life or before you know it the good things in it will be gone.

Return to Top
#699400 - 03/09/07 07:53 PM Re: Biennial Renewal for Exempt Customers 2old2care
BSAFrustration Offline
Gold Star
Joined: Aug 2006
Posts: 332
You have had them "postmarked" by the 15th and everything has turned out ok?
_________________________
Slow down and enjoy life or before you know it the good things in it will be gone.

Return to Top
#699401 - 03/09/07 07:53 PM Re: Biennial Renewal for Exempt Customers BSAFrustration
2old2care Offline
Platinum Poster
Joined: Oct 2006
Posts: 712
PA
35 Years in Banking I earned it! Hve a good weekend.

Return to Top
#699404 - 03/09/07 07:54 PM Re: Biennial Renewal for Exempt Customers 2old2care
BSAFrustration Offline
Gold Star
Joined: Aug 2006
Posts: 332
Wow! 35 yrs! You have earned everything! You have a nice weekend too!
_________________________
Slow down and enjoy life or before you know it the good things in it will be gone.

Return to Top
#699454 - 03/09/07 09:08 PM Re: Biennial Renewal for Exempt Customers BSAFrustration
Snowqueen Offline
Diamond Poster
Snowqueen
Joined: Jun 2003
Posts: 2,289
dreaming of a warm beach......
An FDIC examiner wrote us up because it was not received by the IRS by March 15th. We now do the filing electronically. I recommend you have it mailed prior to March 15th. The Exemption form states the biennial renewal must be filed by March 15th. According to the examiner that means in the office of the Detroit Computing Center on March 15th.

I guess it's the luck of the draw with examiners.

Return to Top
#699602 - 03/11/07 01:38 AM Re: Biennial Renewal for Exempt Customers Snowqueen
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
This has been an issue of debate. It's funny that the SAME IRS says that my taxes must be "filed" by April 15th and as long as the postmark is 4/15, I'm OK. Yet some examiners argue that filed means "received". I'd say "show me" but choose your battles.
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top

Moderator:  Andy_Z