Important update from the Ohio Lions State Compliance Committee.
It’s imperative that our Ohio Lions clubs and Foundations be informed of this most important compliance requirement. Please see below.
PCC Dave Risen
Chairman, State Compliance Committee
Unclaimed Funds Reporting
According to the Ohio Unclaimed Funds Law (Revised Code Chapter 169), all businesses (including Lions Clubs) that operate in the State of Ohio, are required to file an Annual Report of Unclaimed Funds to the Ohio Department of Commerce. Lions Clubs usually do not have any unclaimed funds (abandoned bank accounts, safety deposit boxes, paychecks). However, clubs must still file an annual negative report.
The negative report may be filed electronically through the Ohio Business Gateway or by printing out form OUF-1 from the Ohio Department of Commerce website. If filling out the printed form, include all of the contact information at the top. The FEIN is the same as your club’s EIN (never write in a Social Security Number). The Report Year is the current calendar year. Check the “NO” box, sign, date, and mail to the address on the bottom of the page.