Year-End “Ten Commandments” for Church Treasurers and Administrators

Richard Hammar’s Year-End “Ten Commandments” for Church Treasurers and Administrators

Follow this checklist to ensure you’ve completed the necessary notifications, changes, and updates by December 31, 2010 to be ready for 2011.

1. Designate housing or manse allowance for all ministerial employees.
2. Report salary and service changes to the Board of Pensions.
3. Have employees review and/or update their W-4 forms for voluntary tax withholding elections.
4. Ask ministerial employees if they want to start voluntary tax withholding.
5. Reclassify ministerial workers from self-employed to employee status for income tax purposes.
6. Reimburse year-end business expenses by the end of the year.
7. Record and report Christmas gifts to all staff members.
8. Advise donors to not file their tax returns before receiving their contributions summaries.
9. Issue receipts for year-end contributions, noting the correct year.
10. Order new IRS tax forms and publications.

Salary change submission and salary confirmation available online through Benefits Connect
Source: Fall 2010 Church Treasurer & Business Administrator News

Church treasurers and administrators can submit salary changes and/or confirmations online for members currently serving their churches or employing organizations. It is important to submit updates within 31 days of the change.*

You can also view all the employees that the Board has on file for your organization, along with their current effective salaries, position descriptions, and the effective date of the salaries. In addition, you can view the current address and contact information that the Board has on file for your employing organization.

Note: To update your employees’ service information under the Traditional Plan, such as changes in employing organization, hours, employment classification, or Benefits Plan participation, please use the Service Change form (enr-110).

*Retroactive changes to hours, employment classification, and salary are made only for the current year and the immediate preceding year, subject to the date the Board receives the updates.

Update Retirement Savings Plan Adoption Agreements, as needed
Source: Fall 2010 Church Treasurer & Business Administrator News

Church treasurers and business administrators are reminded that they must update their church or employing organization’s Retirement Savings Plan of the Presbyterian Church (U.S.A.) Adoption Agreement (ors-006) whenever they make any changes that affect the plan – i.e., changes to eligibility requirements or employer contribution amounts.

For further information, call the Board of Pensions at 800-773-7752 (800-PRESPLAN).