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This list is provided as a guide to help filers, but all filers should still carefully read the instruction booklet, which is available on the Committee’s Web site, www.ethics.house.gov, under the “Financial Disclosure” tab, before completing their" /> <link rel="image_src" href="https://ethics.house.gov/sites/ethics.house.gov/files/Seal_of_the_United_States_House_of_Representatives.png" /> <link rel="canonical" href="https://ethics.house.gov/financial-disclosure/top-10-financial-disclosure-mistakes" /> <link rel="shortlink" href="https://ethics.house.gov/node/3095" /> <meta property="og:site_name" content="House Committee on Ethics" /> <meta property="og:type" content="article" /> <meta property="og:url" content="https://ethics.house.gov/financial-disclosure/top-10-financial-disclosure-mistakes" /> <meta property="og:title" content="Common Financial Disclosure Mistakes" /> <meta property="og:description" content="The following is a list of the most common mistakes made by filers on their Financial Disclosure Statements (Statement). This list is provided as a guide to help filers, but all filers should still carefully read the instruction booklet, which is available on the Committee’s Web site, www.ethics.house.gov, under the “Financial Disclosure” tab, before completing their Statement. Members and staff who have any questions concerning these or any other reporting requirements should contact the Committee’s nonpartisan staff at (202) 225-7103. Common Mistakes for All Filers 1." /> <meta property="og:updated_time" content="2020-08-10T15:35:57-04:00" /> <meta property="article:published_time" content="2011-06-20T11:10:00-04:00" /> <meta property="article:modified_time" content="2020-08-10T15:35:57-04:00" /> <title>Common Financial Disclosure Mistakes | House Committee on Ethics</title> <style type="text/css" media="all"> @import url("https://ethics.house.gov/modules/system/system.base.css?snf0pp"); @import url("https://ethics.house.gov/modules/system/system.menus.css?snf0pp"); @import url("https://ethics.house.gov/modules/system/system.messages.css?snf0pp"); @import url("https://ethics.house.gov/modules/system/system.theme.css?snf0pp"); </style> <style type="text/css" media="all"> @import url("https://ethics.house.gov/profiles/congress/modules/contrib/jquery_update/replace/ui/themes/base/minified/jquery.ui.core.min.css?snf0pp"); @import 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<h1 class="title" id="page-title">Common Financial Disclosure Mistakes</h1> <div class="block block-system block-main block-system-main odd block-without-title" id="block-system-main"> <div class="block-inner clearfix"> <div class="content clearfix"> <div class="panel-display panel-1col clearfix" > <div class="panel-panel panel-col"> <div><div class="panel-pane pane-entity-field pane-node-body" class="panel-pane pane-entity-field pane-node-body"> <div class="pane-content"> <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p>The following is a list of the most common mistakes made by filers on their Financial Disclosure Statements (Statement). This list is provided as a guide to help filers, but all filers should still carefully read the instruction booklet, which is available on the Committee’s Web site, <a href="https://www.ethics.house.gov/">www.ethics.house.gov</a>, under the “Financial Disclosure” tab, before completing their Statement. Members and staff who have any questions concerning these or any other reporting requirements should contact the Committee’s nonpartisan staff at (202) 225-7103.</p> <p class="align-center"><strong>Common Mistakes for All Filers</strong></p> <p class="indent-1">1. Failing to list the underlying assets (stocks, bonds, mutual funds) held in a variable insurance policy or annuity, or brokerage, IRA, 401(k), or 529 account.</p> <p class="indent-1">2. Failing to track assets from year to year, including information in amendments and PTRs, and ensuring the name of the asset and who the asset belongs to (self, spouse, child, joint) are consistent from year to year and filing to filing. If you owned XYZ stock in 2012, we will look for it on your 2013 FD on either Schedule A or B or both. If an asset disclosed on a previous FD is omitted or a new asset is disclosed for the first time without a corresponding Schedule B transaction, please provide an explanation in the comments section in the electronic filing system or in the notes section on the paper form.</p> <p class="indent-1">3. Failing to include the type of life insurance you own (whole life, universal life, or an annuity) in the name of the asset.</p> <p class="indent-1">4. Failing to include a mortgaged piece of investment or rental property on Schedule A as an asset when it was listed on Schedule D as a liability, or the reverse. </p> <p class="indent-1">5. Failing to report capital gains on Schedule A. </p> <p class="indent-1">6. Failing to include agreements with past or future employers on Schedule F, including an employer with whom you have a pension (including pensions for serving in state or local office) or 401(k) plan or an employer from whom you have a job offer.</p> <p class="align-center"><strong>Common Mistakes in Electronic Filing</strong></p> <p class="indent-1">1. Failing to create an Asset Class for a trust, a private business that holds assets, or an IRA, 401(k), 529, or brokerage account in the electronic filing system before beginning Schedule A or B.</p> <p class="indent-1"><span>2. Failing to create a third-party preparer account for anyone assisting you with preparation of your Statement.</span></p> <p class="align-center"><strong>Common Mistakes in Paper Filing</strong></p> <p class="indent-1">1. Failing to provide the type and location (city and state) of a private business.</p> <p class="indent-1"><span>2. Failing to include a date for a liability on Schedule D. </span></p> <p class="indent-1"><span>3. Failing to ensure that all of the appropriate boxes are checked in Schedule A. We look for an “X” in blocks B, C, and D.</span></p></div></div></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <aside class="grid-8 region region-sidebar-first" id="region-sidebar-first"> <div class="region-inner region-sidebar-first-inner"> <section class="block block-menu-block block-congress-section-menu block-menu-block-congress-section-menu odd" id="block-menu-block-congress-section-menu"> <div class="block-inner clearfix"> <h2 class="block-title"><a href="/financial-disclosure" class="active-trail">Financial Disclosure</a></h2> <div class="content clearfix"> <div class="menu-block-wrapper menu-block-congress_section_menu menu-name-main-menu parent-mlid-0 menu-level-2"> <ul class="menu"><li class="first leaf menu-mlid-2396"><a href="/financial-disclosure/faqs-about-financial-disclosure">FAQs About Financial Disclosure</a></li> <li class="leaf menu-mlid-2394"><a href="/financial-disclosure/general-information-about-financial-disclosure">General Information About Financial Disclosure</a></li> <li class="leaf menu-mlid-2358"><a href="/financial-disclosure/financial-disclosure-forms-and-filing">Financial Disclosure Forms and Filing</a></li> <li class="leaf menu-mlid-2359"><a href="/forms/fd-guidance">Financial Disclosure Guidance</a></li> <li class="leaf menu-mlid-2588"><a href="/financial-disclosure/ptr-calculator">Periodic Transaction Report Calculator</a></li> <li class="leaf menu-mlid-2360"><a href="/financial-disclosure/past-financial-disclosures">Past Financial Disclosures</a></li> <li class="leaf menu-mlid-2361"><a href="/financial-dislosure/retention-and-public-access-reports">Retention of and Public Access to Reports</a></li> <li class="leaf menu-mlid-2362"><a href="/financial-dislosure/specific-disclosure-requirements">Specific Disclosure Requirements</a></li> <li class="leaf menu-mlid-2363"><a href="/financial-dislosure/termination-reports">Termination Reports</a></li> <li class="leaf active-trail active menu-mlid-2364"><a href="/financial-disclosure/top-10-financial-disclosure-mistakes" class="active-trail active">Common Financial Disclosure Mistakes</a></li> <li class="last leaf menu-mlid-2143"><a href="/financial-disclosure/financial-disclosure-pink-sheets">Financial Disclosure Pink Sheets</a></li> </ul></div> </div> </div> </section> </div> </aside> </div> </div></section> <footer id="section-footer" class="section section-footer"> <div id="zone-footer-bottom-wrapper" class="zone-wrapper zone-footer-bottom-wrapper clearfix"> <div id="zone-footer-bottom" class="zone zone-footer-bottom clearfix container-24"> <div class="grid-24 region region-footer-third" id="region-footer-third"> <div class="region-inner region-footer-third-inner"> <section class="block block-block block-1 block-block-1 odd" id="block-block-1"> <div class="block-inner clearfix"> <h2 class="block-title">Committee on Ethics</h2> <div class="content clearfix"> <p>1015 Longworth House Office Building (LHOB), Washington, DC 20515<br /> Phone: <a href="tel:202-225-7103">202-225-7103</a> - Fax: 202-225-7392<br /> Office Hours: <br /> Mon. – Thurs – 9:00 a.m. – 6:00 p.m.<br /> Fri. – 9:00 a.m. – 5:00 p.m. </p> <p><a href="/contact-us/newsletter-sign-up">Email Update Signup</a></p> </div> </div> </section> </div> </div> </div> </div></footer> </div> <div class="region region-page-bottom" id="region-page-bottom"> <div class="region-inner region-page-bottom-inner"> </div> </div><script type="text/javascript" src="https://ethics.house.gov/profiles/congress/libraries/jquery.validationEngine/js/languages/jquery.validationEngine-en.js?snf0pp"></script> <script type="text/javascript" src="https://ethics.house.gov/profiles/congress/libraries/jquery.validationEngine/js/jquery.validationEngine.js?snf0pp"></script> <script type="text/javascript"> <![CDATA[//><!]]> </script> <script type="text/javascript"> <![CDATA[//><!]]> </script> </body> </html>