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Electronic Questionnaires for Investigations Processing (e-QIP)

Frequently Asked Questions... about Financial Disclosure Form (SF-714)

Sections include:

Overview;  |  Employee Identification;  |  Annual Income;  |  Bank Accounts;  |  Investment Accounts;  |  Owned Real Estate;  |  Owned Vehicles, Boat, Airplanes, Other;  |  Real Estate You Lease or Rent From Another;  |  Leased Vehicles, Boats, Airplanes, Other;  |  Other Assets;  |  Mortgages, Loans;  |  Other Liabilities;  |  Additional Income/Bankruptcy;  |  Safe Deposit Box;  |  Additional Comments;  |  Certification;

Other Liabilities

1. How do I report my credit card debt?
2. I do not know what my original balance was on my credit card. How do I report it?
3. Every month I pay off my credit card balance; therefore, am I required to report my year-end balance?
4. Every month I pay a different amount on my credit cards. How do I report the monthly payment amount?
5. Every month I pay $500 in alimony and $200 for child support. How do I report this in the Other Liabilities section?
6. I generally pay my credit card off every month. However, the billing cycle is mid-month. Assume I paid off my balance on December 20th and received a new bill on January 15th that covered all purchased between December 15th and January 15th. Do you want to know what the exact balance was on December 31st?

1. How do I report my credit card debt?

   Credit card debt should be reported in the Other Liabilities section for each card if the year-end balance is $500 or greater.

2. I do not know what my original balance was on my credit card. How do I report it?

   The "Original Balance" should be the balance as of January 1st of the reporting year (i.e., January 1st of the preceding year, not the current year). Report this balance if it is $500 or more.

3. Every month I pay off my credit card balance; therefore, am I required to report my year-end balance?

   If you had a credit card balance less than $500 as of December 31, you should not report it.

4. Every month I pay a different amount on my credit cards. How do I report the monthly payment amount?

   Add up the total amount you paid for the year and divide that total amount by the number of monthly payments made during the reporting year to arrive at the monthly payment amount. If you are unable to calculate the total amount you paid for the calendar year, you may provide your best honest estimate for the monthly payment amount. If you pay off the balance every month, see Question 109.

5. Every month I pay $500 in alimony and $200 for child support. How do I report this in the Other Liabilities section?

   Other liabilities should only be reported if the year-end balance is $500 or more; therefore, the $200 monthly child support should not be reported. For the alimony payment, your "Original Balance" is the amount owed on January 1st of the reporting year ($500); your "Monthly Payment" is the amount you actually paid each month of the reporting year ($500); and your "Year-End Balance" is the amount owed on December 31 of the same year ($500).

6. I generally pay my credit card off every month. However, the billing cycle is mid-month. Assume I paid off my balance on December 20th and received a new bill on January 15th that covered all purchased between December 15th and January 15th. Do you want to know what the exact balance was on December 31st?

   If you paid off your December 15th balance on the 20th then you have a zero balance and do not need to complete that particular screen. We are not saying that you should add up all of the purchases between the 15th and the 31st. However, you should report your December credit card statement balance if it was unpaid before December 31st and it exceeded $500.

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