Principles of IEEE Financial Operations for Regions 1-6 | 
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This page contains information and links for Sections and other IEEE Units that must report information to the U.S. Internal Revenue Service and other U.S. state and local tax agencies. Questions regarding any of these items should be directed to:
IEEE
Tax Compliance Office
+1 732
562 5334 or +1 732 562 5351
tax-compliance@ieee.org
www.ieee.org/services/financial/tax
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To the maximum extent possible IEEE Units are encouraged to participate in the IEEE Concentration Banking Program. If opening a local bank account, the IEEE’s EIN number, 13-1656633, should be used. At the end of each year for any interest bearing account, the bank will provide IRS Form 1099-INT reporting the amount of interest earned during the year. Please attach this form to the Annual Geographic Unit Financial Report (Form L50) filed with the IEEE. Funds collected on behalf of an IEEE Unit must be held safely in FDIC insured or guaranteed bank account(s). FDIC insurance covers deposits of not more than $100,000. For balances higher than $100,000, other arrangements may be needed to provide the required insurance of funds.
EXEMPTION FROM FEDERAL INCOME TAX IEEE is exempt from Federal income tax as an organization described in Section 501(c)(3) of the U.S. Internal Revenue Code. No Geographic Unit or subdivision of IEEE should apply for exemption from Federal income tax. If any Unit is requested by the Internal Revenue Service to do so, the IEEE Tax Compliance Staff should be notified immediately. The IEEE Tax Compliance Staff will communicate with the tax agency and advise Unit of status. EXEMPTION FROM STATE SALES TAXES IEEE is exempt from paying sales tax in some states. List of these states and copies of the exemption forms. In New York State the following IEEE Units have been approved for sales tax exemption: IEEE Region 1, Buffalo Section, Long Island Section, Mid-Hudson Section Mohawk Valley Section New York Section Rochester Section and Syracuse Section. Other Sections in New York interested in filing an application for exemption are encouraged to contact the IEEE Tax Compliance Department. In all other states, IEEE and its Units must pay sales tax.
STATE & LOCAL TAX RETURNS
ANNUAL INFORMATION RETURN (990) Form 990 is the annual information return which is required to be filed by all organizations described in Section 501(c)(3) of the Internal Revenue Code. IEEE annually files a consolidated report for all Units. It will not be necessary for any Unit to file form 990 with a local office of the Internal Revenue Service. If any Unit is requested by a local office of the Internal Revenue Service to do so, the IEEE Tax Compliance Office should be notified. The IEEE Tax Compliance Office will contact the requesting tax office and advise Unit of status. |
