In an effort to increase reporting clarity, the Commission has added a new "memo item" box to the Forms 3, 3P and 3X filed by campaigns, parties and political action committees.
Treasurers will use the new check box to identify "memo entries." Memo entries are used to provide supplemental or explanatory information on a reporting schedule and the dollar amount is not included in the line item total. These entries are commonly used to report reimbursements, redesignations, reattributions, transactions associated with credit card payments, and other complex transactions.
Up to now, committees have identified memo entries by writing the phrase "Memo Item" on the form. The new check box will add clarity and consistency to memo item disclosure, shorten the Commission’s document processing times, and allow the public to access
disclosed data faster.
Paper forms that include the new check box are available for download on the reporting forms page of the FEC website. The FECFile update (Build 220.127.116.11) is also available, and commercial software vendors are expected to incorporate the change in the coming days. Filers should use the updated forms for their next FEC report.