How Should Debt Forgiveness Appear on the FEC Form 3/3X/3P?

When it comes to debt forgiveness on FEC reports, specifically the Forms 3, 3X, and 3P, they will be reflected the same. This information has been confirmed by the FEC.

The FEC report does not pull Balance Reductions as contributions. However, if the balance reduction has the tag Forgiven, we insert the following note:

“Outstanding Loan Amount of {Amount} was reduced in the amount of {Balance Reduction Amount} by forgiveness”