5 CFR 2634.301 - Interests in property.
(a) In general. Each financial disclosure report filed pursuant to this subpart shall include a brief description of any interest in property held by the filer at the end of the reporting period in a trade or business, or for investment or the production of income, having a fair market value in excess of $1,000. The report shall designate the category of value of the property in accordance with paragraph (d) of this section. Each item of real and personal property shall be disclosed separately. Note that for Individual Retirement Accounts (IRA's), brokerage accounts, trusts, mutual or pension funds and other entities with portfolio holdings, each underlying asset must be separately disclosed, unless the entity qualifies for special treatment under § 2634.310 of this subpart.
(b) Types of property reportable. Subject to the exceptions in paragraph (c) of this section, examples of the types of property required to be reported include, but are not limited to:
(1) Real estate;
(2) Stocks, bonds, securities, and futures contracts;
(3) Livestock owned for commercial purposes;
(4) Commercial crops, either standing or held in storage;
(5) Antiques or art held for resale or investment;
(6) Beneficial interests in trusts and estates;
(7) Deposits in banks or other financial institutions;
(8) Pensions and annuities;
(9) Mutual funds;
(10) Accounts or other funds receivable; and
(11) Capital accounts or other asset ownership in a business.
(c) Exceptions. The following property interests are exempt from the reporting requirements under paragraphs (a) and (b) of this section:
(1) Any personal liability owed to the filer, spouse, or dependent child by a spouse, or by a parent, brother, sister, or child of the filer, spouse, or dependent child;
(2) Personal savings accounts (defined as any form of deposit in a bank, savings and loan association, credit union, or similar financial institution) in a single financial institution or holdings in a single money market mutual fund, aggregating $5,000 or less in that institution or fund;
(3) A personal residence of the filer or spouse, as defined in § 2634.105(l); and
(4) Financial interests in any retirement system of the United States (including the Thrift Savings Plan) or under the Social Security Act.
(d) Valuation categories. The valuation categories specified for property items are as follows:
(1) Not more than $15,000;
(2) Greater than $15,000 but not more than $50,000;
(3) Greater than $50,000 but not more than $100,000;
(4) Greater than $100,000 but not more than $250,000;
(5) Greater than $250,000 but not more than $500,000;
(6) Greater than $500,000 but not more than $1,000,000; and
(7) Greater than $1,000,000;
(8) Provided that, with respect to items held by the filer alone or held jointly by the filer with the filer's spouse and/or dependent children, the following additional categories over $1,000,000 shall apply:
(i) Greater than $1,000,000 but not more than $5,000,000;
(ii) Greater than $5,000,000 but not more than $25,000,000;
(iii) Greater than $25,000,000 but not more than $50,000,000; and
(iv) Greater than $50,000,000.
(e) Valuation of interests in property. A good faith estimate of the fair market value of interests in property may be made in any case in which the exact value cannot be obtained without undue hardship or expense to the filer. Fair market value may also be determined by:
(1) The purchase price (in which case, the filer should indicate date of purchase);
(2) Recent appraisal;
(3) The assessed value for tax purposes (adjusted to reflect the market value of the property used for the assessment if the assessed value is computed at less than 100 percent of that market value);
(4) The year-end book value of nonpublicly traded stock, the year-end exchange value of corporate stock, or the face value of corporate bonds or comparable securities;
(5) The net worth of a business partnership;
(6) The equity value of an individually owned business; or
(7) Any other recognized indication of value (such as the last sale on a stock exchange).