Financial Institution Letters

Electronic Filing of Part 363 Annual Reports and Other Reports and Notices

Printable Format:

FIL-71-2016 - PDF (PDF Help)

Summary:

The FDIC has launched a program that provides insured depository institutions subject to Part 363 of the FDIC's regulations the option to file the annual reports and other reports and notices required under Part 363 electronically through the FDIC's secure website, FDICconnect (FCX), rather than in paper form. The "Financial Institution Part 363 Reporting" transaction is in the Supervisory Business Center (SBC) area of FCX. Institutions are encouraged to file their Part 363 Annual Reports and other required reports and notices electronically using FCX-SBC. The results of the program will be evaluated to determine whether to propose amendments to Part 363 to mandate electronic filing with the FDIC.

Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter applies to all insured depository institutions with $500 million or more in total assets.

Highlights:

• An insured depository institution can satisfy its Part 363 filing requirements with the FDIC by electronically filing its Part 363 Annual Report and other reports and notices required under Part 363 in FCX-SBC.
• An insured depository institution must continue to file copies of its required Part 363 reports and notices with its primary federal regulator, if other than the FDIC, and any appropriate state bank supervisor.
• An independent public accountant must continue to file paper copies of:
  • Its most recent American Institute of Certified Public Accountants' peer review report and any Public Company Accounting Oversight Board inspection report with the FDIC; and
  • Any notice of resignation or termination of services with the FDIC, the institution's primary federal regulator, and any appropriate state bank supervisor.
• Part 363 Annual Reports filed electronically through FCX SBC will not be accessible to the public on the FDIC's public website. As a result, each institution must continue to make its annual report available for public inspection.
• Insured depository institutions that already have filed Part 363 Annual Reports and other required reports and notices in 2016 are encouraged to also file them electronically in FCX SBC to become familiar with and provide feedback on the electronic filing process. Feedback may be sent to Part363@fdic.gov.