The National Credit Union Administration (NCUA) Board recently announced a proposed amended Call Report, Form 5300, beginning with the March 2022 reporting cycle.

The changes come as the NCUA has been working to simplify the risk-based capital requirements for eligible, complex credit unions (those with total assets over $500 million), and as part of its Call Report Modernization Initiative over the past five years.

The currently proposed Call Report reflects changes resulting from the final rule for the Complex Credit Union Leverage Ratio (CCULR) approved on Dec. 16, 2021, which amends the NCUA’s capital adequacy regulation to provide a simplified measure of capital adequacy for federally insured credit unions with assets over $500 million.

With a focus of enhancing the value of data collected from credit unions for off-site monitoring and pre-examination planning, the agency launched the NCUA Call Report Modernization Initiative in 2016. In addition to a more simplified and valuable process, the goal is to also reduce the reporting burden for credit unions.

The modernization initiative complements the NCUA’s Enterprise Solution Modernization Program, a multi-year effort to introduce evolving and secure technology solutions that support the agency’s examination, data collection and reporting efforts.

Should you have questions or need additional assistance navigating the revised Call Report form, contact our Financial Institutions Group today.