[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-301204-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-301204-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","2025-year-end-processing-guide-for-online-credit-unions-introduction-update-tax-reporting","2025 Year-End Processing Guide for Online Credit Unions - Introduction - Update & Tax Reporting","","2025 Year-End Processing Guide for online credit unions provides a structured reference for end-of-year tasks and annual tax reporting. It directs teams to review 2025 tasks and deadlines early, assign work to the right members, coordinate year-end training, and monitor year-end email updates to stay compliant. The guide covers what’s new for year-end 2025, including revised HSA and IRA limits, automated year-end routines for tax reporting, and guidance related to interest reporting for qualified car loans, plus instructions for tax forms, verification, and general ledger closing.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/presentations/","Presentations",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/2025-year-end-processing-guide-for-online-credit-unions-introduction-update-tax-reporting/301204/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/2025-year-end-processing-guide-for-online-credit-unions-introduction-update-tax-reporting/301204.png","ImageObject",442,249,{"name":42,"@type":43},"Cart","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-23","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":22},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"How should credit unions prepare for year-end 2025 to meet deadlines?","Question",{"text":62,"@type":63},"Review the 2025 tasks and deadlines early, assign tasks to appropriate team members, and ensure preparations follow the proper order. Coordinate staff training and review post-publication updates and year-end emails in advance to avoid missing required steps.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"What key changes were announced for year-end 2025 regarding HSA and IRA limits?",{"text":67,"@type":63},"The guide states new HSA limits for 2026 and updates for 2025 contributions, and it also notes 2026 IRA and Roth IRA contribution limits by age group, including catch-up contributions. These updates are part of the “What’s New for Year-End 2025” section.",{"name":69,"@type":60,"acceptedAnswer":70},"How does the guide describe handling tax reporting for escrow account amounts and 1098 forms?",{"text":71,"@type":63},"It explains a new automated routine that pulls amounts from the member escrow account attached to the loan, sums payments using the insurance payment/tax payment code, and adds the results to the tax reporting file for the appropriate 1098 boxes. It also notes that manual adjustments for PMI or tax disbursements still require updates in the member tax file using Tool #899.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},301204,1790141926,{"code":4,"msg":81,"data":82},"success",[83,87,92,97,102,107,112,117,122],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":85,"slug":86},11,90,"presentations",{"id":88,"doc_module":22,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},12,"Resumes",80,"resumes",{"id":93,"doc_module":22,"doc_module_name":25,"category_name":94,"show_sort_weight":95,"slug":96},14,"Invoices",70,"invoices",{"id":98,"doc_module":22,"doc_module_name":25,"category_name":99,"show_sort_weight":100,"slug":101},15,"Posters",60,"posters",{"id":103,"doc_module":22,"doc_module_name":25,"category_name":104,"show_sort_weight":105,"slug":106},16,"Social Media",50,"social-media",{"id":108,"doc_module":22,"doc_module_name":25,"category_name":109,"show_sort_weight":110,"slug":111},17,"Forms",40,"forms",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},18,"Letters",30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":84,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":22,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":141},18829141979164,"https://eur-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","2025 Year-End Processing Guide for Online Credit Unions  \nIntroduction  \nThis guide is provided as a reference to the many tasks and procedures related to the end of the year and annual tax reporting. Start by carefully reviewing the 2025 Tasks and Deadlines shown on Page 11. Review tasks in advance and assign them to the appropriate team member to ensure that all preparations and processes are completed on time and in the proper order.  \nOur Advice for a Smooth Year-End  \n• Select a coordinator to assign tasks and ensure they are complete.  \n• Review the guide carefully, including any post-publication updates.  \n• Review deadlines in advance to avoid missing a task and incurring a fee.  \n• Have all year-end staff attend year-end training.  \n• Pay special attention to year-end emails as requirements may change.  \n• Ask questions! Our teams are here and ready to assist.  \n• As always, be sure to keep on track with your Month End Processing Tasks.  \nIf you have any questions on any of the topics or procedures covered in this Guide, please contact a CU*Answers Client Service Representative at 616-285-5711 ext. 255.  \nWe look forward to making year-end 2025 another successful team effort!  \nThis booklet supersedes any year-end instructions you may have received from previous years.  \nRevision date: January 6 , 2026  \nWHAT’S NEW FOR YEAR-END 2025? 4 YEAR-END TRAINING OPPORTUNITIES 5  \nIMPORTANT YEARLY REMINDERS 5  \nTHIRD PARTY PROCESSORS 7  \nSTATE SPECIFIC INFORMATION 7  \nMORTGAGE FORMS 7  \nMONTHLY TASKS: DO THESE TASKS EVERY MONTH 8  \nSUMMARY OF 2025 TAX FORMS 9 2025 TAX FORMS PRICING 10 2025 TASKS AND DEADLINES 11 USING MEMBER STATEMENTS AS SUBSTITUTE 1099-INTS 14 POINTS TO REMEMBER 14  \nMODIFYING STATEMENT MESSAGES FOR USE WITH SUBSTITUTE 1099-INTS 15  \nSPECIAL INSTRUCTIONS FOR CUS OFFERING E-STATEMENTS 16  \nTAX FORMS HANDLING INSTRUCTIONS 20 BONUS DIVIDENDS / LOAN INTEREST REBATES 21 VIEWING MEMBER TAX DOCUMENTS IN IT’S ME 247 22 ORDERING AUDITOR ENVELOPES FOR STATEMENTS 23 SETTING 2026 HOLIDAYS 24 VERIFYING STATE ID \\# 25 VERIFYING LOAN CATEGORIES FOR 1098 REPORTING 26 LOAN CATEGORY CONFIGURATION REPORT 27  \nSPECIAL NOTE: 1098 REPORTING FOR REWRITTEN LOANS 27  \nSPECIAL NOTE: COLLATERAL ON 1098 MORTGAGE LOAN FORMS 29  \nUPDATING TAX FILE DATA 30  \nUPDATING 1099-INT AND 1098 DATA IN THE TAX FILE 30  \nUPDATING OTHER 1099 FORM DATA 32  \nUPDATING SAVINGS BOND INFORMATION 34  \nVERIFYING SHARES AND CERTIFICATES FOR 1099-INT REPORTING 35  \nVERIFYING SHARE DIVIDEND APPLICATIONS 35  \nVERIFYING CERTIFICATE TYPE CONFIGURATION 36  \nVERIFY YOUR CREDIT UNION’S ACCOUNT 37  \nVERIFYING A/PVENDORS FOR 1099-MISC OR 1099-NEC REPORTING 38  \nIF YOUR RATES WILL CHANGE AT YEAR-END 41  \nANNUAL STATEMENT PREPARATION 42  \nBOY/TAX FILE VERIFICATION REPORTS 44  \nEND-OF-YEAR VERIFICATION CHECKLIST 45  \nREPORTING FAIR MARKET VALUE FOR IRAS TO MEMBERS AND THE IRS 46 ASCENSUS-ADMINISTERED 46  \nSELF-ADMINISTERED 46  \nANNUAL UPDATES OF IRAAND HSA BALANCE FILE LIMITS 47 IRA BALANCE FILE LIMITS 47  \nHSA BALANCE FILE LIMITS 47  \nGENERAL LEDGER YEAR-END CLOSING INSTRUCTIONS 48 YEAR END CLOSING: STEP BY STEP 49  \nVERIFYING THE IRA BALANCE FILE 54  \nVERIFYING THE HSA BALANCE FILE 57 VERIFYING THE TAX FILE & PRINTING THE 1099/1098 TAX INFO REPORT 59 MAKING CORRECTIONS 62  \nFORM 1099-R/1099-SA INSTRUCTIONS: ASCENSUS-ADMINISTERED 63 FORM 5498/5498-SA/5498-ESA INSTRUCTIONS: ASCENSUS-ADMINISTERED 64  \nFORM 5498/5498-SA/5498-ESA INSTRUCTIONS: SELF-ADMINISTERED 65 HOW MANY TAX FILES WERE SENT TO THE IRS? 66 USING SMART OPERATOR TO REVIEW TAX FILE TRANSMISSIONS 66  \nWhat’s New for Year-End 2025?   \n• New HSA Limits for 2026: IRS has announced new HSA limits for 2026. The maximum 2025 HSA contribution will be $4,400 for individuals with self-only coverage, up from $4,300 in 2025. The maximum 2026 HSA contribution will be $8,750 for family coverage, up from $8,550 in 2025. The catch-up contribution limit for those over age 55 will remain at $1,000 .  \n• IRA limits for 2026 were ","cbCairUYjc48gR4o","https://ap.wps.com/l/cbCairUYjc48gR4o","pdf",3115542,66,"English","# Introduction\n## Our Advice for a Smooth Year-End\n# What’s New for Year-End 2025?\n## 2025 HSA and IRA Limits Updates\n## Automated Routine for 1098 Tax Reporting\n## Tax Guidance on Car Loan Interest\n# Year-End Tasks and Deadlines\n## Monthly Tasks and Tax Forms Summary\n## Year-End Verification Checklist\n# Tax File Updates and Corrections\n## Updating 1099-INT and 1098 Data\n## Making Corrections","[{\"question\":\"How should credit unions prepare for year-end 2025 to meet deadlines?\",\"answer\":\"Review the 2025 tasks and deadlines early, assign tasks to appropriate team members, and ensure preparations follow the proper order. Coordinate staff training and review post-publication updates and year-end emails in advance to avoid missing required steps.\"},{\"question\":\"What key changes were announced for year-end 2025 regarding HSA and IRA limits?\",\"answer\":\"The guide states new HSA limits for 2026 and updates for 2025 contributions, and it also notes 2026 IRA and Roth IRA contribution limits by age group, including catch-up contributions. These updates are part of the “What’s New for Year-End 2025” section.\"},{\"question\":\"How does the guide describe handling tax reporting for escrow account amounts and 1098 forms?\",\"answer\":\"It explains a new automated routine that pulls amounts from the member escrow account attached to the loan, sums payments using the insurance payment/tax payment code, and adds the results to the tax reporting file for the appropriate 1098 boxes. It also notes that manual adjustments for PMI or tax disbursements still require updates in the member tax file using Tool #899.\"}]","2025 Year-End Processing Guide for Online Credit Unions - Introduction - Update & Tax Reporting | PDF",1789779942,23]