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NCUA to reinstate penalties for late Call Report filing

The NCUA has announced it will reinstate assessing civil money penalties for credit unions failing to submit their Call Reports 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. To assist credit unions in avoiding a penalty, the NCUA will send a reminder to credit unions with outstanding Call Reports one week before the due date.

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