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INSTRUCTIONS FOR FEC FORM 3 AND RELATED SCHEDULES

INSTRUCTIONS FOR

Reporting Loans and Lines of

Federal office. The loan must be made

Credit on Schedules A and C

in accordance with applicable law and

SCHEDULE C-1, LOANS AND

under commercially reasonable terms,

LINES OF CREDIT FROM

and the person making the loan to

Schedule A. When a candidate or

LENDING INSTITUTIONS

the candidate must make loans in the

committee obtains a loan that is used

(FEC FORM 3)

normal course of business.

for the purpose of influencing the

candidate’s election for federal office,

Who Must File Schedule C-1

the committee must itemize the receipt

Background:

on a Schedule A for the appropriate

A political committee that obtains

line number. However, a line of credit

a loan or line of credit from a bank

1. FEC Regulations on Loans

is itemized on Schedule A only when

or other lending institution must file

the candidate or committee obtains

from Lending Institutions to the

Schedule C-1. An authorized commit-

Committee

funds by making a draw on the credit.

tee of a candidate must also file Sched-

ule C-1 when the candidate obtains a

Schedule C-1 seeks information

Schedule C. All loans to a commit-

bank loan or loan of money derived

on loans—including lines of credit—

tee must be continuously disclosed

from an advance on the candidate’s

from lending institutions such as state

on Schedule C, starting with the

brokerage account, credit card, home

or federally chartered banks, federally

first report due after the committee

equity line of credit or other line of

insured savings and loan associations

obtains the loan and continuing with

or federally insured credit unions. The

credit and the borrowed funds are

each report thereafter until the loan

purpose of Schedule C-1 is to verify

used for the purpose of influencing the

is repaid.

that a loan or line of credit does not

candidate’s election for Federal office.

result in a prohibited contribution

11 CFR 104.3(d)(1). (See Schedule C

Line-by-Line Instructions

from the lending institution, a viola-

instructions on Candidate Loans.)

tion of the federal campaign finance

Schedule C Cross-Reference. Enter

law.

When to File Schedule C-1

Under FEC regulations at 11 CFR

the Schedule C page number where

A Schedule C-1 must be filed for

100.82, 100.83, 100.142 and 100.143,

information on the loan or line of

each loan and each line of credit

a loan “made in accordance with

credit appears.

obtained from either a lending insti-

applicable banking laws” and “in the

tution or from the candidate, when

ordinary course of business” is not

Name of Committee Obtaining

the loan is derived from a bank loan

considered a contribution or an expen-

Loan. Enter the full name of the

or from an advance on the candidate’s

diture if certain conditions are met.

reporting committee.

brokerage account, credit card, home

One of these conditions is that the

equity line of credit or other line of

loan “is made on a basis which assures

Identification Number. Enter the

credit. 11 CFR 104.3(d)(1).

repayment.” Schedule C-1 documents

reporting committee’s FEC identifica-

whether or not the loan complies with

tion number. If the committee is newly

Loans. A committee must file a

these requirements.

registered and has not yet obtained a

Schedule C-1 with its next report when

number, enter “not yet assigned.”

it first obtains a loan and in succeeding

2. FEC Regulations on Loans

reporting periods each time the terms

Used for Loans or Contributions

Name/Address of Lender. Enter the

from the Candidate to the

of the loan are restructured. 11 CFR

full name, address and zip code of the

Committee

104.3(d)(1) and (3). (A restructured

lending institution. For loans from

loan is considered a new loan.)

the candidate that are obtained from

Schedule C-1 also seeks informa-

a bank or derived from an advance

tion when a candidate obtains a bank

Lines of Credit. A committee must

on the candidate’s brokerage account,

loan or a loan derived from an advance

file a Schedule C-1 with its next report

credit card, home equity line of credit

on the candidate’s brokerage account,

when a line of credit is established and

credit card, home equity line of credit,

or other line of credit, the lending

in succeeding reporting periods each

or other line of credit available to

institution’s full name and address

time any draws are made on the line

the candidate, including an overdraft

should be provided, rather than that

of credit and each time the line of

made on a personal checking or sav-

of the candidate.

credit is restructured to change the

ings account of the candidate and

Loan Amount. For loans or lines of

that loan is used for the purpose of

repayment terms. 11 CFR 104.3(d)

influencing the candidate’s election for

(1) and (3).

credit made to the committee directly

Federal Election Commission (Revised 052016)

Page 17

Fec Form 3 - Report Of Receipts And Disbursements For An Authorized Committee Instructions Page 17

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