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      Getting a tax ID and bank account

Getting a tax ID and bank account Political committees must establish a bank account. This is required for many reasons, including helping keep committee funds separate from personal funds. This account will be used to deposit receipts and make disbursements. The account must be at one of the following: National bankState bankFDIC- or NCUA-insured institution The name and address of the bank must be listed on the committee's Statement of Organization (Form 1). Banks require you to have a taxpayer identification number to open an account. Political committees may obtain an “Employer Identification Number” online or by completing IRS Form SS-4. For questions about obtaining a taxpayer identification number, call the Internal Revenue Service, 1-800-829-3676. All bank accounts must be opened in the name of the committee using the committee’s Employer Identification Number. Bank accounts should never be opened in the name of an individual using an individual’s Social Security Number. Additional information for specific committees PACs sponsored by corporations and labor organizations A separate segregated fund (SSF) must use its own funds to pay taxes on interest income. Federal and state taxes on SSF funds are not considered administrative expenses payable by the connected organization.
 Publicly funded presidential campaign committees The full amount of presidential primary matching funds received must be deposited into a checking account maintained by the candidate's principal campaign committee in the depository designated by the committee on Form 1. General election grant payments received by a major party candidate must be deposited in a separate account maintained by his or her authorized committee, unless there is a deficiency in the Presidential Election Campaign Fund (the Fund). In the case of a deficiency, the candidate may establish a separate account for payments from the Fund or may deposit such payments with contributions received for legal and accounting expenses. The account(s) shall be maintained at a national bank, state bank, or other FDIC-insured institution.
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          Appointing a treasurerIRS information for political organizations Need help? Get help from the FEC by phone or email
 Legal citations Regulations 11 CFR 102.10Disbursement by check 11 CFR 102.15Commingled funds 11 CFR 103.2Depositories 11 CFR 103.3(a)Deposit of receipts and disbursements 11 CFR 9005.2Payments to eligible candidates from the Fund 11 CFR 9037.3Deposits of presidential primary matching funds
 Advisory opinions AO 1977-19Taxes on interest earned by separate segregated fund


This information is not intended to replace the law or to change its meaning, nor does this information create or confer any rights for or on any person or bind the Federal Election Commission or the public. The reader is encouraged also to consult the Federal Election Campaign Act of 1971, as amended (52 U.S.C. 30101 et seq.), Commission regulations (Title 11 of the Code of Federal Regulations), Commission advisory opinions and applicable court decisions.


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