When is a bank considered a federal contractor according to the Equal Employment Opportunity Commission’s (EEOC) requirement for filing EEO-1 employer information reports? We have a federal charter, are insured by the FDIC, and have less than 100 but more than 50 employees. Does that make us a federal contractor that needs to file an EEO-1?

Your bank is required to comply with the EEOC’s EEO-1 reporting requirements if you serve as a depository of U.S. government funds in any amount, serve as an issuing and paying agent for U.S. savings bonds and savings notes, or have a contract with the government or purchase order amounting to $50,000 or more.

Under the EEOC’s regulations, “prime contractors” with fifty or more employees must also file EEO-1s, subject to certain exceptions. A “prime contractor” is any person holding a government contract, and the Office of Federal Contract Compliance Programs (OFCCP) has long considered contracts for federal deposit insurance to be government contracts, thereby making FDIC-insured institutions “government contractors” within the meaning of the EEOC’s regulations. However, to be required to file an EEO-1, a “prime contractor” must also serve as a depository of U.S. government funds in any amount, be an issuing and paying agent for U.S. savings bonds and savings notes, or have a government contract, government subcontract, or purchase order amounting to $50,000 or more.

As your institution is insured by the FDIC and has more than fifty employees, it would be required to file an EEO-1 if it serves as a depository of U.S. government funds in any amount, or is an issuing and paying agent for U.S. savings bonds and savings notes, or has a government contract or purchase order amounting to $50,000 or more.

For resources related to our guidance, please see:

EEOC Regulations, 29 CFR 1602.7 (“On or before September 30 of each year, every employer . . . that has 100 or more employees shall file with the Commission . . . executed copies of Standard Form 100, as revised (otherwise known as ‘Employer Information Report EEO-1’) in conformity with the directions set forth in the form and accompanying instructions. . . .”)

EEOC Regulations, 41 CFR 60-1.7(a)(1) (“Each prime contractor and subcontractor shall file annually, on or before the September 30, complete and accurate reports on Standard Form 100 (EEO-1) . . . if such prime contractor or subcontractor (i) is not exempt from the provisions of these regulations in accordance with § 60-1.5; (ii) has 50 or more employees; (iii) is a prime contractor or first tier subcontractor; and (iv) has a contract, subcontract or purchase order amounting to $50,000 or more or serves as a depository of Government funds in any amount, or is a financial institution which is an issuing and paying agent for U.S. savings bonds and savings notes. . . .”)

EEOC Regulations, 41 CFR 60-1.3 (“Prime contractor means any person holding a contract and, for the purposes of subpart B of this part, any person who has held a contract subject to the order.”)

EEOC Regulations, 41 CFR 60-1.3 (“Contract means any Government contract or subcontract or any federally assisted construction contract or subcontract.”)

EEOC Regulations, 41 CFR 60-1.3 (“Government contract means any agreement or modification thereof between any contracting agency and any person for the purchase, sale or use of personal property or nonpersonal services. The term ‘personal property,’ as used in this section, includes supplies, and contracts for the use of real property (such as lease arrangements), unless the contract for the use of real property itself constitutes real property (such as easements). The term ‘nonpersonal services’ as used in this section includes, but is not limited to, the following services: Utilities, construction, transportation, research, insurance, and fund depository. The term Government contract does not include: (1) Agreements in which the parties stand in the relationship of employer and employee; and (2) Federally assisted construction contracts.”)

EEOC Regulations, 41 CFR 60-1.3 (“Government means the government of the United States of America.”)

OFCCP, Jurisdiction FAQs (“Financial institutions with federal share and deposit insurance are considered to be government contractors within the meaning of the regulations implementing Executive Order 11246 . . . The implementing regulations for Executive Order 11246 at 41 CFR 60-1.3 have consistently defined a government contract as any agreement or agreement modification between any contracting agency and any person for the purchase, sale or use of personal property or nonpersonal services. . . . This definition thus explicitly includes agreements for insurance.”)

OFCCP, Executive Order 13496 FAQs (“A bank or other financial institution is a covered contractor if it has an arrangement that meets the definition of a ‘government contract.’ In general, OFCCP interprets ‘government contract’ under Executive Order 13496 as it has under Executive Order 11246. Thus, a bank or other financial institution that obtains federal deposit insurance, acts as an issuing and paying agent for U.S. savings bonds and notes, or is a federal fund depository is a government contractor for purposes of both Executive Order 11246 and Executive Order 13496. In addition, these entities may be covered contractors if they have any other arrangement that meets the definition of a ‘government contract’ under the regulations. Such entities are subject to Executive Order 13496 to the same extent as are other federal contractors.”)