FOR INTERIM (180-DAY) REPORTS
This section describes the uniform financial record keeping and reporting system that the trustee must use. The system consists of three primary records: the Individual Estate Property Record and Report (Form 1), the Cash Receipts and Disbursements Record (Form 2), and the Summary Interim Asset Report (Form 3). Utilizing these records, the trustee must provide an interim report (also known as "180-day report" or "semi-annual report") to the United States Trustee at least every six months in the format prescribed herein.
This financial record keeping and reporting system applies to each chapter 7 asset case. A chapter 7 case is considered an asset case for the purposes of the record keeping and reporting requirements when either (1) the trustee is in possession of property or funds, or expects to receive property or funds, or (2) a no-asset report has not been filed with the United States Trustee and the court, and 60 days have passed since the initial examination of the debtor at the ï½§ 341(a) meeting.
The interim report must be submitted to the United States Trustee no later than thirty days after the end of the reporting period. If the trustee cannot submit the report by the due date, the trustee should obtain a date specific extension in writing from the United States Trustee prior to the deadline. The United States Trustee will review the report within sixty days of receipt and provide a written notice of any deficiencies to the trustee. The noted deficiencies should be corrected within the requested time frame.
The trustee is required to use the current version of Forms 1, 2, and 3, as presented in this Handbook. Earlier versions, such as the pre-1992 Form 4, should not be utilized.
Handbook for Chapter 7 Trustees
Page Last Updated on March 19, 1999.
United States Trustee Program/Department of Justice