(1) Each state credit union shall pay to OFR a semiannual assessment computed on total assets as shown on the NCUA 5300 of the credit union as of the last business day in June and the last business day in December of each year. In the event that a NCUA 5300 is amended, and such amendment results in a change in consolidated total assets, the semiannual assessment shall be computed on the adjusted total assets reported in the amended NCUA 5300 only if such amended report is filed no later than July 31 and January 31 of the current assessment period. No adjustment will be made for amended reports filed after this date.

Terms Used In Florida Regulations 69U-110.053

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
    (2) The semiannual assessment shall be computed on the following schedule:
Total Assets
Base
Plus
of Assets Over
Over
But Not Over

$0
$500,000
$50.00
0
$0
$500,000
$150,000,000
$50.00
0.000135
$500,000
$150,000,000
$300,000,000
$20,232.50
0.000105
$150,000,000
$300,000,000
$750,000,000
$35,982.50
0.000080
$300,000,000
$750,000,000
$1,000,000,000
$71,982.50
0.000050
$750,000,000
$1,000,000,000
$1,500,000,000
$84,482.50
0.000045
$1,000,000,000
$1,500,000,000
$2,000,000,000
$106,982.50
0.000040
$1,500,000,000
$2,000,000,000

$126,982.50
0.000035
$2,000,000,000
    (3) Payment of the semiannual assessment, if mailed, must be received by the OFR no later than January 31 and July 31 of each year. The timeliness of the payment is determined by the date the OFR receives the payment rather than the date of the mailing postmark. Payment of the semiannual assessment, if made via wire transfer or an automated clearinghouse (ACH), must be transmittted (and reflect a transmittal date of) no later than January 31 and July 31 of each year in order to be timely.
    (4) The OFR may levy a late payment penalty of up to $100.00 per day or part thereof for each day that a semiannual assessment payment is past due, unless it is excused for good cause, including isolated clerical and other minor errors. For intentional late payment of a semiannual assessment, the OFR shall levy an administrative fine of up to $1,000.00 per day for each day that a semiannual assessment payment is past due.
Rulemaking Authority 655.012(2), 657.053 FS. Law Implemented 655.047(2), 657.053 FS. History-New 8-18-96, Amended 3-11-02, Formerly 3C-110.053, Amended 1-9-17.

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