[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR2634.302]

[Page 503-505]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
                CHAPTER XVI--OFFICE OF GOVERNMENT ETHICS
 
PART 2634_EXECUTIVE BRANCH FINANCIAL DISCLOSURE, QUALIFIED TRUSTS, AND 
CERTIFICATES OF DIVESTITURE--Table of Contents
 
                      Subpart C_Contents of Reports
 
Sec. 2634.302  Income.

    (a) Noninvestment income. (1) Each financial disclosure report filed 
pursuant to this part, whether public or confidential, shall disclose 
the source, type, and in the case of public financial disclosure reports 
the actual amount or value, of earned or other noninvestment income in 
excess of $200 from any one source which is received by the filer or has 
accrued to his benefit during the reporting period, including:
    (i) Salaries, fees, commissions, wages and any other compensation 
for personal services (other than from United States Government 
employment);
    (ii) Retirement benefits (other than from United States Government 
employment, including the Thrift Savings Plan, or from Social Security);
    (iii) Any honoraria, and the date services were provided, including 
payments made or to be made to charitable organizations on behalf of the 
filer in lieu of honoraria; and
    (iv) Any other noninvestment income, such as prizes, awards, or 
discharge of indebtedness.

    Note: In calculating the amount of an honorarium, subtract any 
actual and necessary travel expenses incurred by the recipient and one 
relative. For example, if such expenses

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are paid or reimbursed by the honorarium source, they shall not be 
counted as part of the honorarium payment; if the expenses are paid or 
reimbursed by the individual receiving the honorarium, the amount of 
honorarium shall be reduced by the amount of such expenses.
    Example 1. An official is a participant in a retirement plan of 
Coastal Airlines. Pursuant to such plan, the official and his spouse 
receive passage on some Coastal flights without charge, and they receive 
passage on other flights at a discounted fare. The difference between 
what Coastal charges members of the public generally and what the 
official and his spouse are charged for a particular flight is deemed 
income in-kind and must be disclosed by this reporting individual if it 
exceeds the $200 threshold.
    Example 2. An official serves on the board of directors at a bank, 
for which he receives a $500 fee each calendar quarter. He also receives 
an annual fee of $1,500 for service as trustee of a private trust. In 
both instances, such fees received or earned during the reporting period 
must be disclosed, and if he is a public filer the actual amount must be 
shown.

    (2) In the case of payments to charitable organizations in lieu of 
honoraria, public filers shall also file a separate confidential listing 
of recipients, along with dates and amounts of payments, to the extent 
known. (See 5 U.S.C. app. 102(a)(1)(A) and app. 501(c).)
    (b) Investment income. Each financial disclosure report filed 
pursuant to this part, whether public or confidential, shall disclose:
    (1) The source and type of investment income, characterized as 
dividends, rents, interest, capital gains, or income from qualified or 
excepted trusts or excepted investment funds (see Sec. 2634.310 of this 
subpart), which is received by the filer or accrued to his benefit 
during the reporting period, and which exceeds $200 in amount or value 
from any one source. Examples include, but are not limited to, income 
derived from real estate, collectible items, stocks, bonds, notes, 
copyrights, pensions, mutual funds, the investment portion of life 
insurance contracts, loans, and personal savings accounts (as defined in 
Sec. 2634.301(c)(2) of this subpart). Note that for entities with 
portfolio holdings, such as Individual Retirement Accounts (IRA's), 
brokerage accounts, trusts, and mutual or pension funds, each underlying 
source of income must be separately disclosed, unless the entity 
qualifies for special treatment under Sec. 2634.310 of this subpart. 
For public financial disclosure reports, the amount or value of income 
from each reported source shall also be disclosed and categorized in 
accordance with the following table:
    (i) Not more than $1,000;
    (ii) Greater than $1,000 but not more than $2,500;
    (iii) Greater than $2,500 but not more than $5,000;
    (iv) Greater than $5,000 but not more than $15,000;
    (v) Greater than $15,000 but not more than $50,000;
    (vi) Greater than $50,000 but not more than $100,000;
    (vii) Greater than $100,000 but not more than $1,000,000; and
    (viii) Greater than $1,000,000;
    (ix) Provided that, with respect to investment income of the filer 
alone or joint investment income of the filer with the filer's spouse 
and/or dependent children, the following additional categories over 
$1,000,000 shall apply:
    (A) Greater than $1,000,000 but not more than $5,000,000; and
    (B) Greater than $5,000,000.
    (2) The source, type, and in the case of public financial disclosure 
reports the actual amount or value, of gross income from a business, 
distributive share of a partnership, joint business venture income, 
payments from an estate or an annuity or endowment contract, or any 
other items of income not otherwise covered by paragraphs (a) or (b)(1) 
of this section which are received by the filer or accrued to his 
benefit during the reporting period and which exceed $200 from any one 
source.

    Example 1. An official rents out a portion of his residence. He 
receives rental income of $600 from one individual for four months and 
$1,200 from another individual for the remaining eight months of the 
year covered by his incumbent financial disclosure report. He must 
identify the property, specify the type of income (rent), and if he is a 
public filer indicate the category of the total amount of rent received. 
(He must also disclose the asset information required by Sec. 2634.301 
of this subpart.)
    Example 2. A reporting individual has three savings accounts with 
Bank A. One is in his name and earned $85 in interest during the 
reporting period. One is in a joint account with his spouse and earned 
$120 in interest.

[[Page 505]]

One is in his name and his dependent daughter's name and earned $35 in 
interest. Since the aggregate interest income from this source exceeds 
$200, the official must disclose the name of the bank, the type of 
income, and if he is a public filer, the category of the total amount of 
interest earned from all three accounts. (He must also disclose the 
accounts as assets under Sec. 2634.301 of this subpart if, in the 
aggregate, they total more than $5,000 in that bank.)
    Example 3. An official has an ownership interest in a fast-food 
restaurant, from which she receives $10,000 in annual income. She must 
specify on her financial disclosure report the type of income, such as 
partnership distributive share or gross business income, and if she is a 
public filer indicate the actual amount of such income. (Additionally, 
she must describe the business and categorize its asset value, pursuant 
to Sec. 2634.301 of this subpart).

[57 FR 11808, Apr. 7, 1992; 57 FR 21854, May 22, 1992, as amended at 63 
FR 43068, Aug. 12, 1998; 65 FR 69656, Nov. 20, 2000]

    Effective Date Note: At 63 FR 43068, Aug. 12, 1998, in Sec. 
2634.302, paragraph (a)(2) was revised and immediately stayed 
indefinitely.