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      Loan principal and interest payments

How to report
        
        Loan principal and interest payments All loans received by a committee must be itemized and continuously reported until the loan is repaid. When a committee is paying off a loan, principal payments and interested are reported separately. Reporting on candidate forms House and Senate committees report loan principal payments on Form 3, Schedule B for Line 19(a) or 19(b), as well as on Schedule C for Line 13(a) or 13(b). Interest payments are reported on Schedule B for Line 17. Principal payments Payments to reduce loan principal must be itemized, regardless of amount, on a Schedule B for the appropriate category of loan repayment. Line 19(a) itemizes repayments for loans made or guaranteed by the candidate. Line 19(b) itemizes repayments for all other loans.
 Schedule B shows a $5,000 payment on a loan from the candidate, Martha Washington. The committee disclosed the payment on Schedule B supporting Line 19(a) and added a clear purpose of “loan repayment.”
 In addition, payments to reduce principal must be reported on Schedule C for Line 13(a) each reporting period until the loan is repaid.
 Schedule C shows the original loan balance of $20,000, the $5,000 payment, and an outstanding balance at the end of the reporting period of $15,000.
 Interest payments Interest paid on a loan is reported as an operating expenditure on Line 17. Interest payments will be itemized on Schedule B for Line 17 once payments to the payee aggregate over $200 in an election cycle.
 Schedule B shows a $150 interest payment for the loan from the candidate.  Since the committee pays interest regularly, this interest payment will be itemized on Schedule B for Line 17 because the committee’s disbursements to this payee exceed $200 for the election cycle.
 If the committee is not paying interest as it is incurred, outstanding interest will be reported as a debt on Schedule D until it is repaid (see debt reporting examples). Reporting with FECFile To report loan principal payments, go to the Loan/Debts tab, right click on the loan being repaid, click “Loan/Debt payments...”, and click “Add New...” This will add the loan payment as a disbursement on Schedule B and will reduce the amount owed on Schedule C. To report interest payments, go to the Summary Page, right click on “Line 17 Operating expenditures,” and select “add new.”
 Learn more about reporting loan principal and interest payments in FECFile FECFile getting started guide - Loan repayments made (page 24)
 FECFile getting started guide - Disbursements (page 19)
 FECFile getting started guide - Debts (page 21)


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