[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: 11CFR104.14]

[Page 121-122]
 
                       TITLE 11--FEDERAL ELECTIONS
 
                 CHAPTER I--FEDERAL ELECTION COMMISSION
 
PART 104_REPORTS BY POLITICAL COMMITTEES AND OTHER PERSONS 
(2 U.S.C. 434)--Table of Contents
 
Sec. 104.14  Formal requirements regarding reports and statements.

    (a) Each individual having the responsibility to file a designation, 
report or statement required under this subchapter shall sign the 
original designation, report or statement except that:
    (1) Reports or statements of independent expenditures filed by 
facsimile machine or electronic mail under 11 CFR 104.4(b) or 11 CFR 
109.2 must be verified in accordance with those sections; and
    (2) Reports, designations, or statements filed electronically under 
11 CFR 104.18 must follow the signature requirements of 11 CFR 
104.18(g).
    (b) Each political committee or other person required to file any 
report or statement under this subchapter shall maintain all records as 
follows:
    (1) Maintain records, including bank records, with respect to the 
matters required to be reported, including vouchers, worksheets, 
receipts, bills and accounts, which shall provide in sufficient detail 
the necessary information and data from which the filed reports and 
statements may be verified, explained, clarified, and checked for 
accuracy and completeness;
    (2) Preserve a copy of each report or statement required to be filed 
under 11 CFR parts 102 and 104, and all records relevant to such reports 
or statements;
    (3) Keep all reports required to be preserved under this section 
available for audit, inspection, or examination by the Commission or its 
authorized representative(s) for a period of not less that 3 years after 
the report or statement is filed (See 11 CFR 102.9(c) for requirements 
relating to preservation of records and accounts); and
    (4) Candidates, who obtain bank loans or loans derived from an 
advance from the candidate's brokerage account, credit card, home equity 
line of credit, or other lines of credit available to the candidate, 
must preserve the following records for three years after the date of 
the election for which they were a candidate:
    (i) Records to demonstrate the ownership of the accounts or assets 
securing the loans;
    (ii) Copies of the executed loan agreements and all security and 
guarantee statements;
    (iii) Statements of account for all accounts used to secure any loan 
for the period the loan is outstanding such as brokerage accounts or 
credit card accounts, and statements on any line of credit account that 
was used for the purpose of influencing the candidate's election for 
Federal office;
    (iv) For brokerage loans or other loans secured by financial assets, 
documentation to establish the source of the funds in the account at the 
time of the loan; and
    (v) Documentation for all payments made on the loan by any person.
    (c) Acknowledgements by the Commission or the Secretary of the 
Senate, of the receipt of Statements of Organization, reports or other 
statements filed under 11 CFR parts 101, 102 and 104 are intended solely 
to inform the person filing the report of its receipt and neither the 
acknowledgement nor the acceptance of a report or statement shall 
constitute express or implied approval, or in any manner indicate that 
the contents of any report or statement fulfill the filing or other 
requirements of the Act or of these regulations.
    (d) Each treasurer of a political committee, and any other person 
required to file any report or statement under these regulations and 
under the Act, shall be personally responsible for the timely and 
complete filing of the report or statement and for the accuracy

[[Page 122]]

of any information or statement contained in it.

[45 FR 15108, Mar. 7, 1980, as amended at 61 FR 3549, Feb. 1, 1996; 67 
FR 12840, Mar. 20, 2002; 67 FR 38361, June 4, 2002]