1. What is an EIN?
An EIN is an Employer Identification Number, and is also known as a Federal Tax Identification Number. EINs are required for reporting interest income by the bank and for the section to be included under the Society’s Federal Tax Exemption.
2. Does my section need an EIN?
Every section should have its own EIN, unless covered by its university.
3. Is my section subordinate to SWE and what is our EIN?
If you are a section leader, you can check to see if your section is subordinate to SWE and find your sections EIN by following the steps below:
1. Login to the swe website at www.swe.org
2. On the upper right hand corner of the page, click “SWE Member Portal”
3. In the bottom left of the Account page, click “Leadership”
4. Click “Update Section Information”
4. What does it mean for my section to be subordinate under SWE?
SWE is a 501(c)3 tax exempt organization per IRS regulation. If your section is a SWE subordinate, that means it falls under SWE’s Group Tax Exemption number. Exemption allows you to not pay federal taxes on your income/interest. In some states, inclusion under the Society’s Group Exemption will exempt section from state income taxes. Section should check for state specific requirements.
5. How does my section obtain an EIN?
If you are a Professional Section or a Collegiate Section not covered by your University and need an EIN:
- Complete IRS form SS-4 and mail it to the IRS
- Check with your University to make sure you are not covered by them BEFORE applying for an EIN
6. Does my section need to file with the IRS?
If your section has gross receipts <$50,000 (avg. over 3 years), you will need to submit IRS form 990-N, also called an e-Postcard. If your section has gross receipts >$50,000 (avg. over 3 years), you will submit full IRS form 990 or 990EZ.
Please note that SWE HQ does not complete this filing on the section’s behalf. It is the responsibility of the Treasurer to file each year. Sections risk losing the tax-exempt status if filing is not done each year.