WHO MUST FILE?
If you accept contributions (including loans), make expenditures (including personal funds), or incur indebtedness in excess of $1000 in any one calendar year, you are required to file a Statement of Organization (DR-1) and subsequent disclosure reports. Remember that you incur debts when an item is ordered, not when the bill is received. Contributions include monetary and in-kind contributions (goods or services donated for free or at a reduced price). You have 10 days from the date you exceed the $1000 amount to file your Statement of Organization.
If you do not anticipate crossing the $1000 threshold, you may file a DR-SFA for the purpose of using a shorter "paid for by" attribution on your political material. If you subsequently cross the threshold, you would then have 10 days to file the Statement of Organization, DR-1.
DO I NEED A SEPARATE BANK ACCOUNT?
Yes, if you receive any money you must open an account in an Iowa financial institution. You and your treasurer are required to deposit money received within seven days of receipt.
EXCEPTION: You do not need a separate bank account if you spend only your personal funds with no contributions from anyone else.
WHERE ARE REPORTS FILED?
Reports are filed with the Board. Effective July 1, 2015, all campaign finance reports must be filed electronically via the Board's Web Reporting System. All reports are due by 4:30 pm of the due date.
WHEN ARE DISCLOSURE REPORTS DUE?
A Statement of Organization is due within ten days of crossing the $1000 threshold.
Election Year (Year Name of Candidate is on Ballot)
Report Due Covered Period
May 19 Jan. 1 through May 14
July 19 May 15 through July 14
October 19 July 15 through Oct. 14
Jan. 19 Oct. 15 through Dec. 31
Non Election Year (Any Year Candidate Name Doesn’t Appear on Ballot)
Jan. 19 Jan. 1 through Dec. 31
Special Election
5 days prior to election Beginning of activity through 10 days prior to election
All reports are due by 4:30 p.m. on the due date
CIVIL PENALTIES
A late-filed report is subject to the automatic assessment of a civil penalty (subject to a request for waiver). Reports that are not filed, or if there is evidence of an intentional failure to file are subject to the possible imposition of additional criminal and civil sanctions.
DISCLOSURE REPORT'S CONTENTS
A disclosure report consists of the Disclosure Summary Page (Form DR-2) and the appropriate supporting schedules for the activity you have had.
REPORTING OF MONETARY CONTRIBUTIONS -Schedule A
Every contribution received (when the aggregate amount in any one calendar year from the same source exceeds $25) shall be listed on Schedule A by date, name, complete address, amount received, and relationship to the candidate (if applicable). All other contributions ($25 and less) may be totaled and listed on Schedule A as "Unitemized Contributions During Period". A candidate or spouse who contributes personal funds (other than loans) to the committee must also be listed as a contributor on Schedule A. Contributors must be listed alphabetically or in chronological order of when the contribution was received.
REPORTING OF EXPENDITURES - Schedule B
Expenditures must be for campaign purposes, constituency expenses, or educational & officeholder expenses only. All expenditures of $5 or more (except loan repayments) shall be listed on Schedule B by date, name, complete address, purpose, and amount. Expenditures less than $5 may be totaled and listed on Schedule B as "Miscellaneous Disbursements" so long as the total in any one calendar year to any one person does not exceed $100. The purpose of an expenditure shall be a specific explanation. Vague definitions such as campaign expense, miscellaneous, supplies, or reimbursement to candidate are not acceptable. Expenditures must be listed in chronological order when the expenditure was made.
REPORTING INCURRED INDEBTEDNESS - Schedule D
If the committee (candidate) orders goods or services (whether or not they have been delivered or an invoice has been received) and the amount is not paid at the end of the reporting period, list the amount on Schedule D as an "Incurred Obligation". If the amount is unknown, list an estimated amount. Show all debts on each subsequent report until repaid.
REPORTING IN-KIND CONTRIBUTIONS - Schedule E
All contributions of goods or services paid for or donated to the committee by others shall be reported on Schedule E by date, name, complete address, description, and estimated fair market value. Schedule E is also used when the candidate pays bills without reimbursement from the committee, when loans payable are forgiven, and when the candidate personally assumes debts and obligations of the committee.
REPORTING OF LOANS PAYABLE - Schedule F
All loans made to a committee (including candidate's personal loans) shall be reported on Schedule F (Part I) by date, original source of loan, complete address, and amount. All loan repayments shall be reported on Schedule F (Part II) by date, name, complete address, and amount. All loans forgiven, transferred, or assumed by candidate shall be shown in total on this schedule and subtracted from the outstanding balance. This transaction must also be shown in detail on Schedule E as an in-kind contribution.
CONSULTANT ACTIVITY - Schedule G
If you hire an advertising agency or any type of consultant for your campaign you must complete Schedule G. Please consult the instructions or contact the Board for more detail.
CAMPAIGN PROPERTY - Schedule H
Schedule H is an on-going record of equipment, supplies, and materials purchased with campaign funds or received in-kind with a value of $500 or more. You do not need to disclose consumable campaign property or property that has a value of less than $100. Please consult the instructions on the form or contact the Board for more detail.
PROHIBITED CONTRIBUTIONS
Corporate (including nonprofit) contributions are prohibited, as well as contributions from banks, credit unions, savings and loan associations, and insurance companies. Anonymous contributions in excess of $25 are prohibited and shall escheat to the general fund of the State of Iowa. Contributions in the name of another are prohibited. These restrictions apply to in-kind as well as monetary contributions.
DISSOLVING YOUR COMMITTEE
After filing a Statement of Organization, a committee has continual filing requirements until a Statement of Dissolution (DR-3) is filed. When the committee reduces its cash balance to zero, sells or transfers any campaign property, and satisfies all of its debts and obligations it shall then file the Statement of Dissolution (DR-3) within 30 days of the end of activity.
ADVERTISING REQUIREMENTS
See the Paid for By brochure for advertising requirements.
OUT-OF-STATE CONTRIBUTIONS
If you receive a contribution from an out-of-state committee, the out-of-state committee needs to file a Verified Statement Registration with the Board. Please contact the Board for more information if you receive a contribution from an organization outside of Iowa.
See Iowa Chapter 68A and the Board's rules in 351-Chapter 4 for more guidance
DISCLAIMER
This brochure is intended to provide you with general guidance and is not a restatement of the laws or rules and is not intended as legal advice. For additional information, please look at Iowa Code chapter 68A and the Board's rules in Chapter 351 of the Iowa Administrative Code or contact the Board.