Credit Unions and Automatic Revocation of Exemption: Federal Credit Union Listed as Revoked
Situation One: A federal credit union appears on the Auto-Revocation List, even though federal credit unions are not required to file an annual return.
If an organization was recognized by the IRS as exempt under section 501(c)(14)(A) as a state credit union before it became federally chartered under the supervision of the National Credit Union Association (NCUA), IRS records will continue to identify that organization as a state credit union until it notifies the IRS that it is has become a federal credit union. As a state credit union in IRS records, it has an annual filing requirement and it will appear on the Auto-Revocation List if it does not file a return for three consecutive years. A state credit union has an annual filing requirement for all periods before its conversion to a federally chartered credit union.
If a federal credit union that was previously a state credit union appears on the Auto-Revocation List, it should write or fax a letter as described in the Frequently Asked Question, My organization was a state credit union exempt under Internal Revenue Code section 501(c)(14), but reorganized as a federal credit union exempt under section 501(c)(1). How do we let the IRS know we are no longer required to file an annual information return?. Upon verifying that the organization is a federal credit union, the IRS will remove the organization from the Auto-Revocation List.
Please send all inquiries, in writing, explaining your situation to:
IRS - TE/GE
Attn: Correspondence Unit
P.O. Box 2508
Cincinnati, OH 45201
You may also fax the letter to 513-263-4330.
