D. What is the most common mistake made on the Form 460 Summary Page?
Loan repayments are often reported twice, once on Schedule B and again on Schedule E. When the committee makes a loan repayment, it should only be reported on Schedule B.
D. General Rules for Reporting Contributions Received on Schedule A Chapter 3 provides detailed information on the following topics, as well as other contribution reporting rules. The information below is a short summary of some of the most common reporting rules. $5,000 Contributor – Major Donor Notice If contributions totaling $5,000 or more are received from a single source in a calendar year, a “major donor” notice must be sent to the contributor within two weeks. If a contribution of $10,000 or more is received from a single source within 90 days before the election or on the date of the election, the notice must be sent within one week. Do not send the notice if the contribution is from another recipient committee. Joint Checking Account If a check is received that is imprinted with two individuals’ names, report the contribution from the person who signed the check. However, if both individuals signed the check, or one signed the check but both have signed an accompanying document indicating that the contribution is from both, then report 50 percent of the contribution amount from one individual and 50 percent from the other, unless the document attributes specific amounts to each contributor.
Fair Political Practices Commission advice@fppc.ca.gov
Chapter 9.12
Campaign Manual 2 August 2023 Page 298
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