Section 1071: Reporting Gross Annual Revenue
For Section 1071, reporting institutions can rely on information provided by the applicant regarding a business’ Gross Annual Revenue (GAR) for its preceding fiscal year. If the amount is later updated or otherwise verified prior to taking action on the application, however, the updated or verified amount must be reported. Ultimately, whatever is considered the most accurate information must be reported.
Based on the most recent Filing Instructions Guide from the CFPB, reporting institutions will use the following codes to indicate whether they have an applicant’s GAR:
Code 900: Provided
Code 988: Not provided by applicant and otherwise undetermined
If provided (Code 900), the unrounded GAR is reported in the appropriate field.
Published 2026/10/12
Amy Kudlacek
Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!