Question
I received a file showing that my organization's "Application Year" is 2019. Does this mean that my organization does not have to apply submit a CFC application until 2019?
Answer
No. CFC participating organizations must annually submit an application; however, pursuant to 5 CFR §950.201(c), organizations must submit the full application in the initial year for which it applies to participate in the CFC. Moreover, organizations must submit the full application once every three years and may submit an abbreviated verification application in the intervening years. The verification application consists of the certification statements contained within the application and the IRS Form 990 (or pro forma IRS Form 990).
For previously participating organizations, the "Application Year" indicates the CFC year for which the full application is next due. The verification application is due annually until that time.