(2022) Iowa Division of Credit Unions Regulatory Advisory Bulletin: Moneys and Credits Tax, March 25, 2022. Commerce, Department of
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Moneys and Credits Reserve Treatment.pdf File Size:171kB |
Abstract
Iowa law requires each Iowa state-chartered credit union to maintain a legal reserve account. See Iowa Code sections 533.303 533.329. The 2022 Call Report changes removed the call report line for regular reserves. The Iowa Division of Credit Unions instructs credit unions to comply with the following treatment for undivided earnings and legal reserves.
| Item Type: | Departmental Report |
|---|---|
| Keywords: | Commerce, Credit Union, Savings and Checking Accounts, Business |
| Subjects: | Business and industry > Banking Business and industry > Trade and commerce Government finance and taxes > Government revenues |
| ID Code: | 44075 |
| Deposited By: | Margaret Barr |
| Deposited On: | 18 Apr 2023 18:45 |
| Last Modified: | 18 Apr 2023 20:42 |
| URI: | https://publications.iowa.gov/id/eprint/44075 |