Collecting Agent Basics, Part 2

As the "collecting agent," an entity associated with a separate segregated fund, such as the fund's connected organization or the organization's state PAC, may collect and transmit federal PAC contributions. To do this, it must first deposit the money in order to separate out the money intended for the federal PAC from other funds and fees collected for other reasons.  The funds may be deposited in the collecting agent's own account (as long as separate records are kept) or a separate transmittal account for this purpose. To forward the money within the timelines mentioned in last week's tip, the collecting agent may write one check (or electronically transmit) representing all of the federal PAC funds it has collected during the specific time period in question. The PAC reports the contributions as separate contributions received from each individual contributor (rather than as a transfer from the collecting agent).  For more information, see pages 28 - 30 of the Campaign Guide for Corporations and Labor Organizations.