Termination report

A committee that wishes to close down its operations can file a termination report when it meets these criteria:

• It no longer receives (or intends to receive) contributions; and
• It no longer makes (or intends to make) expenditures.

A termination report may be filed anytime and may be combined with a regularly scheduled report. For example, a quarterly report may also serve as a termination report if the filer checks the “Termination Report” box.

The termination report must disclose:

• All receipts and disbursements not previously reported, including an accounting of debt retirement.
• The purposes for which any remaining committee funds or assets will be used.

If a committee is involved in an FEC enforcement action, audit or litigation, it cannot terminate. The committee must continue to file reports until that matter is resolved.

A committee’s reporting obligation ends only when the committee receives a termination approval letter from the Commission. Until the committee receives this notification, it must continue to file reports.

Reporting on disclosure forms

Committees file a termination report on the Report of Receipts and Disbursements (Form 3, Form 3X or Form 3P depending on the committee type of the filer). In the “Type of Report” section of the report’s cover page, the committee checks the “Termination Report (TER)” box. The beginning coverage date will be the day after the ending coverage date of the committee’s previous report. The ending coverage date will be the date of last activity by the committee or the close of books date of the next scheduled report.

Reporting with FECFile

To create a termination report, go to the Reports tab. Then, click the “Edit” menu, select “New” and choose “Report of Receipts and Disbursements” as the report type and click “OK.” For “Type of Report” choose “Termination Report” from the drop-down menu. Enter the report’s coverage dates in the “Date From” and "Date Thru” fields.