Northern Arizona University recognizes and registers only those student organizations that are not for profit and, therefore, may qualify to receive the benefits of a nonprofit bank account.  These benefits may include checking account privileges without a service charge and/or no interest withheld by the IRS on interest-paid accounts.  Decisions regarding these benefits are made directly by the financial institution a student organization chooses to bank with.  NAU does not do internal banking for student organizations, nor may student organizations use the university's Federal Tax Identification Number.  In most cases, in order to receive financial institution/bank benefits, student organizations must apply for a Federal Tax Identification number with the IRS (form SS-4).  This form is also called an Employer Identification Number.  The SS-4 form has a spot for the student organization to designate that they are a registered university student organization (line 8a, under "Other").  Please note that this SS-4 Federal Tax ID# form is quite different than applying for federal tax-exempt status under 501(c) 3 non-profit organization guidelines.  Student organizations may request a confirmation letter from the Office of Student Life stating they are currently registered with NAU.

 There are three possible ways to file an SS-4 form.  They are:

• Call the Internal Revenue Service and request the publication “Tax Exempt Status for your Organization” and the SS-4 form.  It may take up to three weeks to receive the booklet.  Some banks will request that this procedure be followed.  They cannot open an account until the tax ID number information is in place with the IRS.
   

• Other banks offer a tax ID number form (SS-4).  Complete this form, and mail it to the IRS (detailed instructions will accompany the form).  The IRS will take approximately three to four weeks to respond.  These participating banks grant an account temporary nonprofit status and will allow up to sixty days for the organization to inform them of their newly assigned tax ID number.
   

• Come into the Office of Student Life and request an IRS SS-4 form (detailed instructions accompany the form).  After completing the form, FAX or mail it to the IRS.  Faxed applications are usually responded to in approximately one week.  Student Life staff members are not in a position to act as tax advisers regarding these or other forms.

Once a federal tax ID number has been secured, an organization may establish an account at most banks that provide organizational accounts.  Organizational accounts may also be eligible for other benefits afforded a not-for-profit organization. 

It is our request that any organization that establishes a student organization bank account use a dual signature process for writing checks, making deposits, and/or making withdrawals.