[Code of Federal Regulations]
[Title 11, Volume 1]
[Revised as of January 1, 2009]
From the U.S. Government Printing Office via GPO Access
[CITE: 11CFR102.9]

[Page 92-94]
 
                       TITLE 11--FEDERAL ELECTIONS
 
                 CHAPTER I--FEDERAL ELECTION COMMISSION
 
PART 102_REGISTRATION, ORGANIZATION, AND RECORDKEEPING BY POLITICAL 
COMMITTEES (2 U.S.C. 433)--Table of Contents
 
Sec. 102.9  Accounting for contributions and expenditures (2 U.S.C. 432(c)).

    The treasurer of a political committee or an agent authorized by the 
treasurer to receive contributions and make expenditures shall fulfill 
all recordkeeping duties as set forth at 11 CFR 102.9(a) through (f):
    (a) An account shall be kept by any reasonable accounting procedure 
of all contributions received by or on behalf of the political 
committee.
    (1) For contributions in excess of $50, such account shall include 
the name and address of the contributor and the date of receipt and 
amount of such contribution.
    (2) For contributions from any person whose contributions aggregate 
more than $200 during a calendar year, such account shall include the 
identification of the person, and the date of receipt and amount of such 
contribution.
    (3) For contributions from a political committee, such account shall 
include the identification of the political committee and the date of 
receipt and amount of such contribution.
    (4) In addition to the account to be kept under paragraph (a)(1) of 
this section, for contributions in excess of $50, the treasurer of a 
political committee or an agent authorized by the treasurer shall 
maintain:
    (i) A full-size photocopy of each check or written instrument; or
    (ii) A digital image of each check or written instrument. The 
political committee or other person shall provide the computer equipment 
and software needed to retrieve and read the digital

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images, if necessary, at no cost to the Commission.
    (b)(1) An account shall be kept of all disbursements made by or on 
behalf of the political committee. Such account shall consist of a 
record of:
    (i) The name and address of every person to whom any disbursement is 
made;
    (ii) The date, amount, and purpose of the disbursement; and
    (iii) If the disbursement is made for a candidate, the name and 
office (including State and congressional district, if any) sought by 
that candidate.
    (iv) For purposes of 11 CFR 102.9(b)(1), purpose has the same 
meaning given the term at 11 CFR 104.3(b)(3)(i)(A).
    (2) In addition to the account to be kept under 11 CFR 102.9(b)(1), 
a receipt or invoice from the payee or a cancelled check to the payee 
shall be obtained and kept for each disbursement in excess of $200 by or 
on behalf of, the committee, except that credit card transactions, shall 
be documented in accordance with 11 CFR 102.9(b)(2)(ii) and 
disbursements by share draft or check drawn on a credit union account 
shall be documented in accordance with 11 CFR 102.9(b)(2)(iii).
    (i)(A) For purposes of 11 CFR 102.9(b)(2), payee means the person 
who provides the goods or services to the committee or agent thereof in 
return for payment, except for an advance of $500 or less for travel and 
subsistence to an individual who will be the recipient of the goods or 
services.
    (B) For any advance of $500 or less to an individual for travel and 
subsistence, the expense voucher or other expense account documentation 
and a cancelled check to the recipient of the advance shall be obtained 
and kept.
    (ii) For any credit card transaction, documentation shall include a 
monthly billing statement or customer receipt for each transaction and 
the cancelled check used to pay the credit card account.
    (iii) For purposes of 11 CFR 102.9(b)(2), a carbon copy of a share 
draft or check drawn on a credit union account may be used as a 
duplicate record of such draft or check provided that the monthly 
account statement showing that the share draft or check was paid by the 
credit union is also retained.
    (c) The treasurer shall preserve all records and accounts required 
to be kept under 11 CFR 102.9 for 3 years after the report to which such 
records and accounts relate is filed.
    (d) In performing recordkeeping duties, the treasurer or his or her 
authorized agent shall use his or her best efforts to obtain, maintain 
and submit the required information and shall keep a complete record of 
such efforts. If there is a showing that best efforts have been made, 
any records of a committee shall be deemed to be in compliance with this 
Act. With regard to the requirements of 11 CFR 102.9(b)(2) concerning 
receipts, invoices and cancelled checks, the treasurer will not be 
deemed to have exercised best efforts to obtain, maintain and submit the 
records unless he or she has made at least one written effort per 
transaction to obtain a duplicate copy of the invoice, receipt, or 
cancelled check.
    (e)(1) If the candidate, or his or her authorized committee(s), 
receives contributions that are designated for use in connection with 
the general election pursuant to 11 CFR 110.1(b) prior to the date of 
the primary election, such candidate or such committee(s) shall use an 
acceptable accounting method to distinguish between contributions 
received for the primary election and contributions received for the 
general election. Acceptable accounting methods include, but are not 
limited to:
    (i) The designation of separate accounts for each election, caucus 
or convention; or
    (ii) The establishment of separate books and records for each 
election.
    (2) Regardless of the method used under paragraph (e)(1) of this 
section, an authorized committee's records must demonstrate that, prior 
to the primary election, recorded cash on hand was at all times equal to 
or in excess of the sum of general election contributions received less 
the sum of general election disbursements made.
    (3) If a candidate is not a candidate in the general election, any 
contributions made for the general election shall be refunded to the 
contributors, redesignated in accordance with 11

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CFR 110.1(b)(5) or 110.2(b)(5), or reattributed in accordance with 11 
CFR 110.1(k)(3), as appropriate.
    (f) The treasurer shall maintain the documentation required by 11 
CFR 110.1(1), concerning designations, redesignations, reattributions 
and the dates of contributions. If the treasurer does not maintain this 
documentation, 11 CFR 110.1(1)(5) shall apply.

[45 FR 15104, Mar. 7, 1980, as amended at 52 FR 773, Jan. 9, 1987; 67 FR 
69946, Nov. 19, 2002]