Various

Corrected a number of minor typographical mistakes, which had already been corrected in the web version of the guide.

Various

Updated the names used in the reporting examples to reflect greater diversity. In addition, revised certain dates to make them more relevant for filers completing reports in 2022 and after.

Part 2 and Part 5, Carried Interest

Clarified that, in the rare case that a filer/spouse has carried interest on a fund that qualifies as an excepted investment fund, the underlying holdings of that fund do not need to be disclosed as part of the carried interest description.

Part 2 and Part 5, Deferred Compensation

Added an example of a deferred compensation plan that tracks a basket of stocks.

Part 2 and Part 5, Government Benefit or Payment

Clarified that, for purposes of financial disclosure, unemployment benefits are reportable for a filer but not for a spouse.

Part 2 and Part 5, Intellectual Property

Added note reminding filers of the difference between being difficult to value and having little value.

Part 2, Part 3, and Part 5, Option or Warrant

Expanded the existing incentive stock option plan entries to cover all employment-related options and warrants.

Part 2, Part 3, and Part 5, Small Business (installment sale)

Added a new entry for installment sales of a filer’s/spouse’s business.

Part 2, Part 3, and Part 5, Small Business (third-party escrow agreement)

Revised the existing third-party escrow agreement entries to focus on such agreements within the context of selling a filer’s/spouse’s business.

Part 2 and Part 5, TIAA

Added examples of TIAA products in a defined contribution plan and in an IRA.

Part 4 and related pages

Revised the sample language used for the non-disclosure of a confidential client.

Part 6, Annuity (indexed)

Added a new entry for indexed annuities.

Part 6, Business Development Corporation (BDC)

Added a new entry for equity in business development corporations.

Part 6, Business Development Corporation (BDC) Bond/Note

Added a new entry for debt issued by business development corporations.

Part 6, College Savings Plan (529 plan)

Added an example of a final distribution from a plan with no assets and reformatted the other examples for clarity.

Part 6, Donor-Advised Fund

Added a new entry for donor-advised funds.

Part 6, Exchange-Traded Note (ETN)

Added a new entry for exchange-traded notes.

Part 6, Health Savings Account (HSA)

Added a new entry for health savings accounts.

Part 6, Investment Club

Added a new entry for investment clubs.

Part 6, Master Limited Partnership (MLP)

Added a new entry for master limited partnerships.

Part 6, Collectible Non-Fungible Token (NFT) or Fractionalized Non-Fungible Token (F-NFT)

Added a new entry for collectible non-fungible tokens and fractionalized non-fungible tokens.

Part 6, Option (put or call purchased)

Added a discussion of index options.

Part 6, Real Estate (installment sale)

Added a new entry for installment sales related to the sale of real estate.

Part 6, Real Estate Investment Trust (REIT)

Added a new entry for real estate investment trusts, distinguishing them from other real estate holding companies.

Part 6, Solar Renewable Energy Credit Agreement

Added a new entry for solar renewable energy credits.

Part 6, Special Purpose Acquisition Company (SPAC)

Added a new entry for special purpose acquisition companies.

Part 6, Virtual Currency (cryptocurrency or stablecoin)

Revised the virtual currency entry to clarify terminology used for holding and trading virtual currency. Entry also revised to cover passive staking arrangements.

Part 6, Warrant

Added a new entry for warrants.

Part 9 and various other pages

Updated the reporting thresholds for gifts and travel reimbursements to reflect the regulatory change for gifts and travel reimbursements received after January 1, 2023.

Part 9, Gifts and Travel Reimbursements

Added an example for a gift accepted as a widely attended gathering.

For Ethics Officials, 1.02: Individuals Required to File

Added clarifying cross-reference to day-counting rules in the “Detailees” sub-section.

For Ethics Officials, 1.04: Extensions

Clarified the treatment of combat zone extensions, including a specific confirmation that the extension can apply to OGE Form 278-T reports.

For Ethics Officials, 1.05: Late Filing Fees

Clarified that late filing fees and late filing fee waivers must be documented in the filer’s report file but should also be noted on the report itself. Added a reminder that OGE collects aggregate data from agencies on late filing fees and waivers. In addition, added a discussion of when an agency may stay imposing a late filing fee.

For Ethics Officials, 1.08: Collection of Termination Reports

Added a discussion of how agencies might design a termination report collection process.

For Ethics Officials, 2.02: Spouses and Dependent Children

Added note clarifying that filers need not report alimony or child support.

For Ethics Officials, 2.03: Cover Page of the OGE Form 278e

Updated discussion of how Integrity treats intermediate reviewer signatures.

For Ethics Officials, 2.06: Part 3

Clarified reporting requirements to underscore that maintaining a defined contribution plan account constitutes “participation” in the plan.

For Ethics Officials, 3.01: Cover Page of the OGE Form 278T

Updated discussion of how Integrity treats intermediate reviewer signatures.

For Ethics Officials, 4.01: Review Steps and Certification Requirements

Added a summary of the basic steps in a review.

For Ethics Officials, 4.07: Public Availability

Provided additional guidance on a number of issues related to the release of public financial disclosure reports.

For Ethics Officials, 4.09: Forwarding Reports to OGE

Removed the reference to “acting” DAEOs.

For Ethics Officials, 4.10: Special Procedures for Nominees

Added a sample 5-day update letter.

Definitions: Various

Added definitions for new and revised main Guide entries.

Definitions: Asset

Provided additional guidance as to when items would be viewed as held for investment or the production of income.

Definitions: Exchange

Provided a general definition of when an exchange happens for purposes of financial disclosure.

Definitions: Futures Contract

Added a discussion of index futures.

Definitions: Gift

Added a definition of a gift.

Definitions: Income Types

Added a discussion of things excluded from income for purposes of financial disclosure.

Definitions: Purchase

Added a definition of when a purchase happens for purposes of financial disclosure.

Definitions: Personal Residence

Clarified that the term “personal residence” can include a residential property held for rent-free use by a family member.

Definitions: Received

Clarified that income deferred pursuant to a Certificate of Divestiture is still “received” during the reporting period of the sale for purposes of financial disclosure.

Definitions: Sale

Added a definition of when a sale happens for purposes of financial disclosure.

Definitions: Security

Clarified the definition of security for purposes of financial disclosure.

Definitions: Travel Reimbursement

Added a definition of a travel reimbursement.

Definitions: Virtual Currency

Clarified that the term “virtual currency” in the guide is meant to include cryptocurrency and stablecoins.

FAQs: Bond (corporate)

Added a FAQ for preferred securities (i.e., report as stock rather than as a bond).

FAQs: Brokerage Account

Added a FAQ reminding filers that dividends and capital gains in a taxable brokerage account are reportable as “received.”

FAQs: Collectible Item

Clarified explanation of when a collectible item is held for investment or the production of income.

FAQs: College Savings Plan (529 plan)

Added FAQs for 529 plans.

FAQs: Defined Benefit Plan

Added guidance for reporting unvested plan interests.

FAQs: Honorarium

Clarified when a speakers’ bureau must also be reported as part of the disclosure of honoraria. Added a FAQ addressing an honorarium from the U.S. Government.

FAQs: Intellectual Property

Added a FAQ for self-published books.

FAQs: Law Firm (partnership)

Added a FAQ for a capital account returned before the end of the reporting period.

FAQs: Liabilities

Added a FAQ for aggregate liabilities to a creditor in excess of $10,000 that are individually each less than $10,000. Also added a FAQ for refinanced mortgages.

FAQs: Loan Made to Another Party

Added a FAQ for peer-to-peer lending.

FAQs: Managed Account

Added a FAQ for robo-advised accounts.

FAQs: Mutual Fund

Added a FAQ for mutual funds that do not qualify as excepted investment funds. Note: This is a rare case and generally occurs when the filer can exercise some control over the investment selections of the fund.

FAQs: Positions Held Outside of U.S. Government

Added FAQs for events organized through speakers’ bureaus, donor-advised funds, and professor emeritus status.

FAQs: Sources of Compensation

Added FAQs for events organized through speakers’ bureaus, book advances, and contingency fees.

FAQs: Stock

Added a FAQ for preferred securities (i.e., report as stock rather than as a bond).

FAQs: Transactions

Combined the FAQs for OGE Form 278e and OGE Form 278-T transactions. Added FAQs for stock splits, corporate spin-offs, corporate split-offs, virtual currency transactions, exchange-traded notes, master limited partnerships, real estate investment trusts, non-fungible tokens, fractionalized non-fungible tokens, and exercising options.

FAQs: Trust (irrevocable trust)

Added a FAQ for intentionally defective grantor trusts.