Note: These additional FAQs supplement the full Core Standards FAQs available on nar.realtor and are incorporated into that document.
See also: Core Standards FAQ Supplement - September 2014
8.5. Our state association does not have access to state licensing information. How do we satisfy the Core Standards requirement to provide local associations with lists of nonmember licensees? Also, there is no reference in the online “Compliance Tool” to state associations providing state licensing information to local associations. Isn’t that an Organizational Alignment requirement?
The Core Standards require that “To ensure proper dues reporting and collection, every state association will provide to each local association a comparative list of non-member licensees to the state membership records, at least semi-annually.” That said, state associations can’t be required to share information that’s not available to them, which is the case in several states. In those cases, it’s anticipated those state associations would still make reasonable efforts to obtain that information for their local associations. This requirement is not reflected in the online Compliance Tool since it is applicable only to the state associations. (Revised and reinstated 10.7.14)
10.2.4. For the first compliance cycle (ending June 30, 2015) in what tax year should the audit, review or compilation be for?
The audit, review or compilation should be for the first fiscal year-end following May 17, 2014. (Added 9.26.14)
Note: At the 2014 REALTORS® Conference & Expo the NAR Finance Committee will consider whether an earlier year’s audit, review or compilation would satisfy this requirement. Any change from the information shown above will be published following those meetings. (Note added 10.7.14)