Go through this together, outgoing and incoming treasurer, ideally in one sitting with the president or chair. Tick a line when it is done, not when it is promised.
Bank and money
- Bank signature card updated: the new treasurer added, the outgoing treasurer removed. Ask the bank to confirm in writing.
- Online banking users changed, and the outgoing treasurer's login removed.
- Debit cards in the outgoing treasurer's name cancelled, and new cards ordered.
- Checkbook, deposit slips and deposit stamp handed over.
- Payment accounts (Stripe, Square, PayPal, Venmo and the like) checked: who owns each one, and whether any is tied to someone's personal account. Move ownership to the club.
- Cash box counted together, and the count signed by both of you.
Records
- Bank statements and receipts for the last seven years, or as many as exist.
- This year's budget, and last year's budget against what actually happened.
- The member and dues list, showing who has paid and who still owes.
- A list of bills and reimbursements still to be paid.
- Books reconciled to the handover date, with a balance snapshot you both sign.
- Bylaws, minutes, past 990-N confirmations, conflict of interest forms and IRS letters (the determination letter and the EIN confirmation letter, CP 575).
- Anything kept on one person's laptop or personal email moved into a shared club folder.
Logins, handed over properly
- A list of every account the treasurer uses: bank, payments, accounting, email, website and domain, state filing portals.
- For each account, the password changed, and the recovery email and phone set to the club's, not a person's.
- Passwords never sent in an ordinary email or text. Use a shared password manager or hand them over in person, then change them.
- Two step sign in turned on wherever it is offered.
- The IRS login used for the 990-N belongs to a person (Login.gov or ID.me) and cannot be passed on. The new treasurer makes their own. Write down who filed last time.
Insurance
- General liability policy found, and any directors and officers (D&O) policy.
- Broker or agent name and contact, policy numbers and renewal dates written down.
- Officer names updated with the insurer, if the policy lists them.
Filings and deadlines
- The IRS return your club files (often the 990-N): when it is due and who filed last. See the 990-N in plain words.
- EIN responsible party: if it was the outgoing treasurer, file IRS Form 8822-B within 60 days of the change.
- State annual or periodic report, if the club is incorporated: due date and login.
- State charity registration, if the club asks the public for donations.
- Any raffle licence, sales tax permit or tax exemption certificate, with expiry dates.
- The mailing address on IRS and state records still reaches someone. PO box key handed over.
The first month
- Week one: bank access works for the new treasurer and is gone for the old one.
- First bank statement reconciled by the new treasurer.
- Open bills on the list paid.
- Every deadline above in a shared club calendar, with a reminder two weeks ahead.
- A short first report to the board: balances, money in, money out, and anything odd.
- The outgoing treasurer's phone number kept for a few months. Questions always come up.
A checklist, not legal or tax advice. Your bank, your bylaws and your state may ask for more.