Chapter PAC Audit Checklist
It is essential that all PACs periodically audit processes and procedures. The FEC recommends that both internal and external audits are conducted regularly. NAIFA’s PAC is now conducting an IFAPAC Check-Up. Below is a list of items IFAPAC would like each of the PACs to investigate and research for the internal check-up.
- Who is filing your state election reports? (Example: State Executive Director, Lobbyist, Accountant)
- What is the filing schedule? (Example: Annually, Biannually, Quarterly)
- What is your State PAC’s Tax ID Number?
- Does the PAC file the Tax Form 1120-Pol (optional) and 8871 (required)?
- What is the email address used for the PAC registration? (Example: ifapac@naifa.org. A shared email inbox to which multiple people have access.)
- Does your State PAC have Bylaws or Statement of Purpose/Principals? (See sample and tip sheet.)
- How often are you required to register your PAC with the Secretary of State’s Office? (Example: Annually, once, or when/if something changes.)
- Do the amounts of money in your PAC account(s) match the amounts on your state election reports?
- How does the state determine which candidates to support? Who is involved in the process?
- How many bank accounts does the PAC have? Who has access to them? (Example: State Treasurer, State Executive Director, PAC Chair.)
- As part of this process, IFAPAC will collect copies of each PAC’s prior year-end filing with the Secretary of State’s office, tax forms and bylaws. (See Federal Tax Return Requirements.)
As your state moves through this process, please contact ssheridan@naifa.org with any questions.
