Closing Your Conference
All IEEE sponsored and co-sponsored conferences are responsible for closing the conference financials within twelve months after the end of the conference. Although organizers have 12 months to close the event, certain items must be completed in a shorter window of time.
Conference Closing Timeline
Below are all of the items required to be completed in order for IEEE to officially close your conference:
| Timeframe to Complete | Closing Action Items |
|---|---|
No later than 6 months after conference end date |
Repay loans to financial sponsors (if applicable Distribute surplus funds and assets to financial sponsors Close all bank accounts related to the event and provide proof of bank closure |
Shortly after the conference ends, but no later than the end of the year in which payment was made |
Submit schedule of tax payments (if applicable) to report taxable payments to individuals Complete and submit the final financial report |
No later than 12 months after conference end date |
Finalize all VAT documentation and approvals Sign and submit Certificate of Accuracy Send all audit related materials to IEEE |
Your conference will be officially closed once all of this required information has been submitted.
Distribute Surplus Funds and Assets
All conferences must distribute surplus funds at the close of the conference bank account. This must be done no later than 6 months after the conference end date.
If you are utilizing the IEEE NextGen Banking program, your assigned analyst will close the account for you and arrange for loan and surplus payments to financial sponsors. If your conference is utilizing a non-IEEE account, your analyst will provide payment details to send funds to IEEE financial sponsors.
Close Conference Bank Accounts
Close the conference bank accounts after all invoices are paid and surplus has been distributed. IEEE requires proof that the bank account is closed. The submission documentation required is contingent on conference bank account type.
The required documentation depends on the type of bank account you have.
- NextGen Banking: Completed copy of the Destroy Unused Checks form (PDF, 24K). This is only applicable for organizers who received physical banking materials.
- Local Bank account: The final bank statement for the conference showing a zero balance.
- Third-Party Manager & PCO accounts: A letter from the Third Party or PCO stating that all funds related to the conference have been sent to the appropriate financial sponsors as per the sponsorship MOU and no funds related to the conference are left in the account.
Submit Schedule of Tax Payments
Find additional information on these forms and how to complete them
Submit Final Financial Report
You should fill out a final financial report using the IEEE Conference Financial Web form as soon as possible. This form should be submitted no later than twelve months after the end of the conference. Most conferences are able to complete this at the time of bank closure.
If your IEEE Financial Sponsor has another format or platform for submitting financial reports, your assigned conference analyst will make you aware of this shortly after the conference end date.
Be sure to complete the Certificate of Accuracy (CoA) once you are satisfied with the financial information reported and submit to your assigned analyst.
Audit the Conference
All conference organizers should send IEEE the documentation for an audit regardless if an audit is required by IEEE policy 10.1.10 or not. If the audit is required by policy, organizers will work with their assigned analyst to arrange who will conduct the audit (external audit firm or IEEE Internal Audit Team) and to submit all required audit documentation.
Suggested Courses
We recommend the following courses in the IEEE Center for Leadership Excellence (CLE). First, use your IEEE Account to log in to the CLE and then click the View Course link to go directly to the recommended course.
How to Close Your IEEE Conference
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