Reporting Manager, Member Tax & Unclaimed Property
PenFed Credit Union, Alexandria, VA, United States
Reporting Manager, Member Tax & Unclaimed Property (Hybrid)
PenFed is hiring a Reporting Manager in Eugene, Oregon or Alexandria, Virginia service center. The role supports the management of PenFed’s information reporting to members, beneficiaries, state and federal government agencies.
Qualifications
Bachelor’s degree in Business, Accounting, Finance or a related field.
6 to 7 years of experience in tax information reporting, and/or unclaimed property reporting, within a financial institution or similarly regulated environment.
2 to 3 years of experience leading reporting, compliance, regulatory initiatives and providing functional or project leadership.
Experience with IRS information reporting and withholding, including 1098/1099, 5498, backup withholding, TIN matching, and corrections.
Experience managing unclaimed property/escheatment reporting and due diligence.
Experience reconciling federal, state, and Puerto Rico withholding and general ledger accounts.
Puerto Rico tax reporting experience preferred.
IRA, estate, or deceased account reporting exposure preferred.
Experience using automation or AI tools in reporting or compliance processes preferred.
Financial services, banking, or credit union experience highly desired.
Key Responsibilities
Lead and mentor staff responsible for year‑end reporting for credit union members worldwide, including Puerto Rico, and review and prepare substitute forms for Puerto Rico government approval.
Manage escheatment/unclaimed property reporting and due diligence; identify and implement process improvements.
Partner with Estate Accounts to ensure accurate tax reporting for deceased members and beneficiaries; calculate reportable amounts.
Coordinate with IT, vendors, and the IRS to develop and produce year‑end forms and notices (e.g., 1098/1099 series, 5498, IRA FMV, backup withholding).
Monitor federal/state/Puerto Rico reporting and withholding requirements (including IRS bulletins and unclaimed property updates) and drive compliance actions.
Assist in the development and maintenance of reporting policies, procedures, and correction protocols; provide training and partner across departments to implement changes.
Track reporting timelines and resourcing; review production outputs and elevate risks to the Senior Manager.
Coordinate annual due diligence mailings and response processing, ensuring proper system certifications and overall compliance with federal and state regulations related to IRS reporting and unclaimed property.
Partner with IT to maintain compliant reporting systems, support backup withholding notifications, and implement automation/efficiency improvements.
Oversee reporting and withholding communications/materials; coordinate timely production and mailing of tax forms.
Reconcile and maintain federal/state/Puerto Rico/foreign withholding general ledger and IRS withholding accounts; submit required remittances and requests to taxing authorities.
Process non‑IRA members withholding requests and ensure adherence to withholding processes and procedures.
Maintain due diligence for TIN mismatches, W‑8BEN documentation, investor withholding forms, and non‑resident alien re‑certifications (per IRS guidance).
Provide guidance to PenFed staff on tax reporting, IRA compliance/reporting, correspondence review, research, and deceased account processing to support member inquiries.
Supervisory Responsibility This position will not supervise employees.
Licenses and Certifications There are no additional licenses or certifications required for this position.
Work Environment While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.
Travel Limited local travel to various worksites is required.
Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
Other Additional duties may be assigned.
This role is responsible for ensuring business continuity.
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Qualifications
Bachelor’s degree in Business, Accounting, Finance or a related field.
6 to 7 years of experience in tax information reporting, and/or unclaimed property reporting, within a financial institution or similarly regulated environment.
2 to 3 years of experience leading reporting, compliance, regulatory initiatives and providing functional or project leadership.
Experience with IRS information reporting and withholding, including 1098/1099, 5498, backup withholding, TIN matching, and corrections.
Experience managing unclaimed property/escheatment reporting and due diligence.
Experience reconciling federal, state, and Puerto Rico withholding and general ledger accounts.
Puerto Rico tax reporting experience preferred.
IRA, estate, or deceased account reporting exposure preferred.
Experience using automation or AI tools in reporting or compliance processes preferred.
Financial services, banking, or credit union experience highly desired.
Key Responsibilities
Lead and mentor staff responsible for year‑end reporting for credit union members worldwide, including Puerto Rico, and review and prepare substitute forms for Puerto Rico government approval.
Manage escheatment/unclaimed property reporting and due diligence; identify and implement process improvements.
Partner with Estate Accounts to ensure accurate tax reporting for deceased members and beneficiaries; calculate reportable amounts.
Coordinate with IT, vendors, and the IRS to develop and produce year‑end forms and notices (e.g., 1098/1099 series, 5498, IRA FMV, backup withholding).
Monitor federal/state/Puerto Rico reporting and withholding requirements (including IRS bulletins and unclaimed property updates) and drive compliance actions.
Assist in the development and maintenance of reporting policies, procedures, and correction protocols; provide training and partner across departments to implement changes.
Track reporting timelines and resourcing; review production outputs and elevate risks to the Senior Manager.
Coordinate annual due diligence mailings and response processing, ensuring proper system certifications and overall compliance with federal and state regulations related to IRS reporting and unclaimed property.
Partner with IT to maintain compliant reporting systems, support backup withholding notifications, and implement automation/efficiency improvements.
Oversee reporting and withholding communications/materials; coordinate timely production and mailing of tax forms.
Reconcile and maintain federal/state/Puerto Rico/foreign withholding general ledger and IRS withholding accounts; submit required remittances and requests to taxing authorities.
Process non‑IRA members withholding requests and ensure adherence to withholding processes and procedures.
Maintain due diligence for TIN mismatches, W‑8BEN documentation, investor withholding forms, and non‑resident alien re‑certifications (per IRS guidance).
Provide guidance to PenFed staff on tax reporting, IRA compliance/reporting, correspondence review, research, and deceased account processing to support member inquiries.
Supervisory Responsibility This position will not supervise employees.
Licenses and Certifications There are no additional licenses or certifications required for this position.
Work Environment While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.
Travel Limited local travel to various worksites is required.
Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
Other Additional duties may be assigned.
This role is responsible for ensuring business continuity.
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