The FDIC rescinded guidance providing coronavirus-affected financial institutions extra time to file annual reports under Part 363 of the agency's regulations.
Background: The FDIC in March 2020 issued a Financial Institution Letter providing an additional 45 days for insured depository institutions subject to Part 363 of the FDIC’s regulations to file Part 363 reports.
Rescission: In a new FIL, the FDIC said it is rescinding the relief, effective for fiscal years beginning after Dec. 31, 2021. The deadline for filing the annual report reverts to either 90 or 120 days after the end of the fiscal year, depending on the organization’s status as a public filer.
