UBIT Resources

UBIT 2014 News

Breakthrough with IRS Over Credit Union UBIT Payments - April 9, 2014


UBIT 2010 News

Government Abandons Appeal in UBIT Bellco Case - October 20, 2010

IRS Appealing Credit Union-Favorable Bellco UBIT Court Decision - August 23, 2010

New Judge Ruling Positive for SCUs in Challenge to UBIT Brought by Bellco CU - April 6, 2010

Bellco CU Court Decision May Be "Substantial Authority" in UBIT Treatment of Financial Products for Members - March 5, 2010

Revised Instructions for Filing the Form 990
The IRS published revised Form 990 instructions on August 19, 2008. Click here to view the instructions.

NASCUS' Quick Guide to Unrelated Business Income Tax (UBIT)
Download the guide here. (Updated March 2010)

Substantial Authority Memos, TAMs and Additional Resources

Foley and Lardner Substantial Authority Memo for Community First and Bellco (Member log-in required) April 2010

Foley and Lardner Substantial Authority Memo - Bellco CU Litigation (Member log-in required) March 2010

Foley and Lardner Substantial Authority Memo - Community First CU Litigation (Member log-in required) October 2009

CUNA Accounting Task Force Accounting Tool
Guidance (PDF Format)
UBIT Examples (Excel Format)

Links to TAMs

Release Date: June 22, 2007
http://www.irs.gov/pub/irs-wd/0725046.pdf
http://www.irs.gov/pub/irs-wd/0725047.pdf
http://www.irs.gov/pub/irs-wd/0725048.pdf
http://www.irs.gov/pub/irs-wd/0725049.pdf
http://www.irs.gov/pub/irs-wd/0725050.pdf
http://www.irs.gov/pub/irs-wd/0725051.pdf
http://www.irs.gov/pub/irs-wd/0725052.pdf
http://www.irs.gov/pub/irs-wd/0725053.pdf
http://www.irs.gov/pub/irs-wd/0725054.pdf
http://www.irs.gov/pub/irs-wd/0725055.pdf
http://www.irs.gov/pub/irs-wd/0725056.pdf
http://www.irs.gov/pub/irs-wd/0725057.pdf

Release Date: April 27, 2007
http://www.irs.gov/pub/irs-wd/0717036.pdf
http://www.irs.gov/pub/irs-wd/0717035.pdf
http://www.irs.gov/pub/irs-wd/0717034.pdf
http://www.irs.gov/pub/irs-wd/0717033.pdf
http://www.irs.gov/pub/irs-wd/0717032.pdf
http://www.irs.gov/pub/irs-wd/0717031.pdf
http://www.irs.gov/pub/irs-wd/0717030.pdf
http://www.irs.gov/pub/irs-wd/0717029.pdf

Release Date: March 9, 2007
http://www.irs.gov/pub/irs-wd/0710017.pdf
http://www.irs.gov/pub/irs-wd/0710018.pdf
http://www.irs.gov/pub/irs-wd/0710019.pdf

Release Date: March 2, 2007
http://www.irs.gov/pub/irs-wd/0709072.pdf
http://www.irs.gov/pub/irs-wd/0709073.pdf

If you have any questions regarding UBIT, please contact NASCUS at (703) 528-8351.