HI HB314

Requires providers receiving funds from the Department of Health or Department of Human Services to file annual financial reports with their respective departments

Providers must submit IRS Form 990, 990-EZ, or 990-PF within ten business days of filing with the IRS, or submit department-prescribed reports by the 15th day of the fifth month after fiscal year close for those filing Form 990-N or not required to file standard forms

Authorized officers must sign annual reports and certify accuracy under penalty of perjury (HRS §710-1063)

Providers must maintain fiscal records for at least three years and submit copies of any IRS extensions within twenty days of request; late filing incurs a $20 daily fee capped at $1,000

All submitted documents must be shared with the Department of Taxation to ensure compliance with state tax requirements; exempts contracts with federal reporting requirements