The CA Form 497 compliance report is for:
– Contributions received that are $1000 or more in aggregate for the 90 days before an election.
– Expenses to support/oppose another candidate/committee that are also $1000 or more in aggregate for the 90 days before an election.
Setting up Your Form 497 Report in ISPolitical
When generating a 497 in ISPolitical, navigate to REPORTS > COMPLIANCE and set up the following required fields:
– Make sure the correct person/entity is selected if you have more than one Filer. If you only have one Filer (most common), then you won’t see this option.
– Select the CA Form 497 from the listed report types.
– Select the current election the committee is participating in.
– The From Date should always be the first day of the 90-day reporting period.
– The To Date is the day you are running this report on.
Generating the Form 497 Report
After entered the required information, generating a Form 497 is as easy as clicking “Generate” in ISPolitical.
1. Make sure you review your report and, when ready, click E-File Report to send it electronically to the state.
2. After you receive the confirmation the report was accepted, click on the “Mark As Filed” button.
Clicking the “Mark As Filed” button will allow you to get even more out of ISPolitical’s software. This will mark all transactions in the report as previously reported. This prevents transactions from being double reported later and provides an extra layer of protection from editing or accidental deletion.
How to Report In Kind Contributions on the 497