PAC fundraising checkup

Are your disclosures up to date when soliciting PAC contributions? We’ve recently received several questions from our corporate and trade association clients about solicitation notices. To ensure your federal PAC is in compliance when contacting your restricted class, we suggest taking a few minutes to look at your solicitation requests to make sure the following elements are included:

1. IRS notice must go first! “Your contribution is not tax deductible…”
2. Disclose the purpose of the PAC.
3. Advise that contributions are voluntary and that there will be no job reprisals or adverse action based on the amount of the contribution or refusal to contribute.
4. Advise about the requirement to report the name, address and (usually) amount of the contribution.
5. Provide that contributions from foreign nationals are not accepted.

This article was reprinted from the Winter 2015 Compliance Connections Newsletter. Download the complete Winter 2015 issue here.