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INSTRUCTIONS FOR FEC FORM 3 AND RELATED SCHEDULES

from a lending institution, enter the

for the loan from the candidate to the

E. Future Receipts as Collateral.

amount of the loan or line of credit.

committee.

Check yes if the loan or line of credit

If reporting a restructured loan or

was obtained using future receipts as

Due Date. Enter the date on which

line of credit, enter the amount under

collateral; list the types of receipts

the new terms. 11 CFR 104.3(d)(1)

full repayment of the loan or line of

that were pledged; and enter their

(i) and (3). If a candidate obtains a

credit is due (under the original agree-

estimated amount. 11 CFR 104.3(d)

loan from a bank or derived from

ment or a restructured agreement, as

(1)(iii). Enter the date the sepa-

an advance on a brokerage account,

appropriate). 11 CFR 104.3(d)(1)(ii)

rate account was established for the

credit card, home equity line of credit

and (3). The due date is not required

deposit of pledged receipts. (A depos-

or other line of credit and contributes

for a loan of money from an advance

itory account is required under 11

or loans some or all of that amount

on the candidate’s brokerage account,

CFR 100.82(e)(2)(iii) and 100.142(e)

to the committee for the purpose of

credit card, home equity line of credit,

(2)(iii).) Provide the full name and

influencing the candidate’s election

or other line of credit and such loans

address of the depository institution

for Federal office, report here only

are used in the candidate’s campaign.

where the account was established.

the amount used for the purpose of

A. Restructured Loans. Check yes

F. Other Means of Obtaining Loan.

influencing the candidate’s election

if the loan or line of credit has been

Complete this section if “no” was

for Federal office. For loans derived

restructured to change the terms; enter

checked in sections C, D, and E or if

from a draw on the candidate’s line of

the date on which the original loan or

the amount cosigned and/or pledged

credit the committee need only report

line of credit was incurred. 11 CFR

for the loan or line of credit is less than

the amount of the draw in this section,

104.3(d)(3).

the loan amount. If so, state the basis

and not the entire amount of the line

B. Draws on Line of Credit. If

upon which the loan was made and the

of credit.

reporting a draw on a line of credit,

basis on which it assures repayment.

enter the amount of the draw and

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

Interest Rate. Enter the annual per-

the outstanding balance owed on

G. Treasurer’s Signature and Date.

centage rate (APR) of interest on the

the line of credit (cumulative draws

The committee treasurer (or properly

loan or each draw on the line of credit.

less any repayments made). 11 CFR

designated assistant treasurer) must

If reporting a restructured loan or line

104.3(d)(1)(ii). This information is not

sign and date the form; the signer’s

of credit, enter the interest rate under

required for loans derived from the

name should be printed or typed

the new terms. 11 CFR 104.3(d)(1)(ii)

candidate’s home equity line of credit

beside the signature. The treasurer’s

and (3). For loans from the candidate

or other line of credit and used for the

signature and date are not required for

that are obtained from a bank or

purpose of influencing the candidate’s

bank loans obtained by the candidate

derived from an advance on the candi-

election for Federal office.

or a loan of money from an advance

date’s brokerage account, credit card,

C. Secondary Sources of Repay-

on the candidate’s brokerage account,

home equity line of credit or other line

ment. Check yes if the loan or line of

credit card, home equity line of credit,

of credit, provide the interest rate for

credit was endorsed or guaranteed by

or other line of credit.

the loan from the lending institution

secondary parties. 11 CFR 104.3(d)

H. Copy of Loan Agreement.

to the candidate, not the interest rate

(1)(iii). Information on endorsers

Attach a copy of the signed agree-

for the loan from the candidate to the

and guarantors must be disclosed on

ment. 11 CFR 104.3(d)(2). A copy of

committee.

Schedule C. (Note that guarantees

the loan agreement is not required for

and endorsements of loans are con-

bank loans obtained by the candidate

Date Incurred or Established. Enter

sidered contributions; see Schedule C

or a loan of money from an advance

the date the candidate or committee

instructions.)

on the candidate’s brokerage account,

incurred the debt by signing the loan

D. Traditional Collateral. Check

credit card, home equity line of credit,

agreement (the original agreement or

yes if the loan or line of credit was

or other line of credit.

a restructured agreement, as appro-

obtained using traditional sources of

I. Lender Certification. An autho-

priate). 11 CFR 104.3(d)(1)(i) and

collateral, and list the specific assets

rized representative of the lending

(3). For loans from the candidate that

that were pledged. Enter the total fair

institution must sign and date the

are obtained from a bank or derived

market value of the collateral as of the

form to certify that the lender has

from an advance on the candidate’s

date of the loan agreement. Indicate

complied with items I through III. 11

brokerage account, credit card, home

whether the lender has a perfected

CFR 104.3(d)(1)(v). The representa-

equity line of credit or other line

security interest in the collateral. 11

tive’s name should be printed or typed

of credit, provide the date incurred

CFR 104.3(d)(1)(iii). (Note that a

beside his or her signature. The repre-

or established for the loan from the

perfected security interest is a require-

sentative’s title must also be entered.

lending institution to the candidate,

ment under FEC regulations. 11 CFR

Lender certification is not required for

not the date incurred or established

100.82(e)(1)(i) and 100.142(e)(1)(i).

bank loans obtained by the candidate

Page 18

Federal Election Commission (Revised 05/2016)

Fec Form 3 - Report Of Receipts And Disbursements For An Authorized Committee Instructions Page 18

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