Clubs Bank Accounts

[rodie]

We are thinking of starting a new club, having dues and collecting 50/50 money. How do clubs handle their money, don't you have to have a federal ID number which causes tax reporting issues or someone's social security number which also causes issues for that person.

How do other clubs handle this issue?

Thanks for the help

[N44125]

Sent pm.

[NYGUY]

Should ask at your local bank.

[NECHFalcon68]

Here's a link...
https://www.talkofthevillages.com/forums/clubs-villages-76/irs-running-your-club-heads-up-147174/

[graciegirl]

If you are thinking to use the local recreation center for your club, check there first. There are rules about money.