§ 4951 Conversion Reporting Requirements

• •After a bank or credit union changes its type (like from a small bank to a big bank), it must give back its old permission papers to the government.
• •The bank must also tell the government about the change in a report, if the government asks for it.
• •This has to happen right after the change is done, not later.

A small local bank becomes a big national bank.

The bank must give its old permission papers to the government and fill out any forms the government asks for about the change.