2020 Year-End Finance Action Items for IEEE Conferences

November 12, 2020 by ekurzawa
Filed in: News Tag: Announcements

The IEEE Conferences, Events and Experiences (CEE) team requests the assistance of financially-sponsored conference organizers to accomplish the following year-end goals.

Updated financial information

If your 2020 conference cannot close before year-end, please submit an updated financial report via the Conference Financial Reporting Form or your designated analyst.

Submission of 1099/1042 reportable payments

To comply with IEEE’s tax reporting requirements, please submit your 1099/1042 Schedule of Payments prior to year-end:

  • Conferences taking place in the U.S. – Report all payments made to U.S. citizens and resident aliens (1099) and non-U.S. persons (1042).
  • Conferences taking place outside the U.S. – Report only payments made to U.S. citizens and resident aliens (1099).

Submission of transaction-level financial detail and back-up documentation

To avoid disruption in the event of an audit, submit auditable documents to your designated analyst:

  • registration reports/invoices
  • sponsorship reports/invoices
  • exhibit reports/invoices
  • expense contracts/invoices
  • bank statements (if IEEE Concentration Banking was not used)

Audit documents may be used in filing insurance claims for applicable conferences adversely impacted by the COVID-19 pandemic.

Timely conference closure

As per IEEE policy, all 2019 conferences must be fully closed by year-end. It is strongly recommended that 2020 conferences also be closed, where possible.

Please submit all above items by Friday, 11 December. If you have any questions, please contact your designated analyst or the CEE Business Operations team.

Contact the CEE Business Operations Team