NAICU Washington Update

Delay in Implementation of New Foreign Gift Reporting System Likely

January 16, 2020

Last month, the Department of Education requested an “emergency clearance” for “expedited implementation” from the Office of Management and Budget (OMB) regarding changes in how institutions report foreign gifts.
As part of its request, the Department asked OMB to provide a ruling by January 2 so the new reporting system could be implemented by January 31.  The January 2 deadline for the Department’s expedited request for clearance has passed without any notification from either agency.
As a result of the missed deadline, it is unlikely the new information collection system will be ready for implementation on January 31. As soon as additional information is available it will be shared.

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