The committee's bank account may be established in a bank, mutual savings bank, savings and loan association or credit union doing business in Washington State. The committee must identify, on the C-1pc, where the account will be, but the account does not have to be opened until the committee receives contributions to deposit.
When opening the account, the committee will be asked to supply a federal tax identification number. The Internal Revenue Service issues tax ID numbers; applications are accepted online, by fax, or by mail.
According to information found at www.irs.gov, effective January 11, 2016, tax ID numbers are issued immediately to those who apply online.
Fax a completed IRS SS-4 form to (859) 669-5760 (Call 1-800-829-3676 to request a blank form).
Mail the completed SS-41 form to IRS, Attn: EIN Operation, Cincinnati, OH 45999.
The bank will report any interest earned on the campaign account to the IRS using the tax number you provide. Consult the IRS, your accountant or tax advisor regarding any tax liability or requirement to file a tax return. The PDC may not give tax-related advice or information.
Deposit monetary contributions within five business days of receipt. Practically speaking, this means that each committee can make a weekly deposit and be in compliance with the law. A high volume of contributions may make more frequent deposits advisable.
Each deposit is reported in a separate Cash Receipts Monetary Contributions Report (C-3). Through the end of May, C-3 reports are due on the 10th of the month following the month the depsoits were made. Beginning in June, C-3 reports are due on Monday after the deposits are made. When no deposits were made in the month or, starting in June, the week, then no reports are filed on the reporting deadline. Once a deposit is made, the C-3 may be filed at any time before the deadline.