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Home  >  Conferences & Events  >  Organizers

What: Manage the closing of conference bank accounts, distribution of surplus funds, preparation of financial reports, and final audit
Who: Conference Finance Chair, Conference Treasurer
When: Within six months after conference
IEEE Policies:
10.1.9 - Distribution of Surplus and Deficits
10.1.10 - Auditing of Conference Finances
10.1.11 - Conference Closings

 

Timeline and quick links

 
 

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How do I close the conference financials?

All IEEE sponsored and co-sponsored conferences are responsible for closing the conference financials within six months after the end of the conference.

• Repay any loans.
• Distribute surplus funds and assets.
• Close their bank accounts.
• Submit schedule of tax payments (if applicable).
• Complete the final financial report.
• Submit Certificate of Accuracy.
• Complete the audit, if required.

IEEE officially closes the conference once all of the required information has been submitted.

 
 

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Distribute surplus funds and assets

Required Task for Conference Organizers All conferences must distribute surplus funds within one month of the end of the conference.

• Repay any conference loans.
• Return any surplus funds to the financial sponsor.
• Distribute all copies of the proceedings and other publications.

 
 

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Close conference bank accounts

Required Task for Conference OrganizersClose the conference bank accounts after all invoices are paid and any surplus distributed. IEEE requires proof that the bank account is closed. The proof you submit depends on the conference bank account type.
 

Type of Bank AccountProof that Bank Account is Closed
Concentration BankingSubmit a completed copy of the Concentration Banking Destroy Unused Checks form (PDF, 23 KB).
Local BankSubmit a copy of the last bank statement for the conference showing a zero balance.
Third-Party ManagerContact Conference Finance Services to determine appropriate proof of closure.

 

 
 

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Submit schedule of tax payments

If your conference made payments to US citizens or takes place in the US, then you must submit schedule of payment forms to IEEE. Complete the forms shortly after the conference ends but no later than 10 January of the next year.

  • Use the 1099 schedule to report all payments made to US citizens or resident aliens that would be classified as income. Do not include expense reimbursements.
  • Use the 1042 schedule to report any payments made to non-US people if your conference takes place in the US. Do not complete the 1042 form if your conference takes place outside the US.
 
 

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Submit final financial report

Required Task for Conference OrganizersPrepare a final financial report using the IEEE Conference Financial Web form, no later than six months after the end of the conference. Be sure to complete the Certificate of Accuracy (CoA), which is part of the financial Web form. If you cannot use the Web form, submit the CoA separately to IEEE.

light bulbThe Financial Reporting Tool Workbook (XLS, 1.4 MB) may be helpful in creating your conference's final financial report.

 
 

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Audit the conference

Complete an audit of your conference, if required.

 
 

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Who do you talk to at IEEE?

IEEE is ready to help. If you have questions about how to manage your conference finances, please contact Conference Finance Services.

Do you have other questions about organizing a conference? Please contact the IEEE Meetings, Conferences and Events Customer Relationship Management (CRM) team.

Do you have feedback on the information on this page?

  • Is there missing or incorrect information?
  • Do you have a tip to share?
Please send your feedback to the Customer Relationship Management team.
 
 

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New: IEEE MCE Conference Education Program

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