Gross annual revenue (GAR) is key in determining whether you have a reportable 1071 application. While there are exclusions, a credit application submitted by a small business which had a GAR of $1 million or less in its prior fiscal year will generally become 1071-reportable. GAR is key to not only identifying whether you have a reportable application, it is also part of the data that is reported for 1071 purposes.
Jerod explains more in the video.
Published 2026/09/24
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!
