The STOCK Act was signed into law on April 4, 2012. The Act requires OGE-278 financial disclosure report filers to file a Periodic Transaction Report (OGE Form 278-T) if they, their spouse, or dependent child make certain financial transactions.
What to Report
Purchases, sales or exchanges by you, your spouse, or dependent child of stocks, bonds, commodity futures, and other securities greater than $1,000.
These transactions must be reported in an OGE 278-T even if made on your, your spouse’s, or your dependent child(ren)’s behalf by an investment advisor or account manager, and even if done within a defined contribution retirement plan (e.g., 401(k) or IRA), variable annuity, or 529 College Savings Plan. Accordingly, it is important that you keep aware of transactions done by any account managers and within all of your accounts.
An OGE Form 278-T is not required to be submitted to report the purchase, sale, or exchange of:
- Excepted investment funds (EIFs) such as mutual funds
- Cash accounts or money market mutual funds
- Holdings within the Thrift Savings Plan
- Life insurance and annuities, unless the transaction is of an underlying security
- Real property
- Treasury securities
- Transactions that are solely by and between you, your spouse, and your dependent children
- Actions that do not constitute purchases, sales, or exchanges, such as gifts given or received, stock splits, bond calls or maturity, or expiration of options
When to File
An OGE Form 278-T is due the earlier of:
- within 45 days of the transaction, or
- within 30 days of the date you learn of the transaction.
There is a $200 late filing fee on these reports.
How to File
Periodic Transaction Reports must be filed using Integrity (https://integrity.gov). After logging in, click on “My Tasks.” To start an OGE Form 278-T, scroll down to the “My Tools” area and click on “278-T.” This will display the report tool with brief instructions in a new window where you can enter your information and submit your report.
Questions?
If you have questions about periodic transaction filing, or are having difficulties with filing an OGE Form 278-T in Integrity, please contact the Office of the Assistant General Counsel for Ethics and Personnel Law (GC-21) by emailing [email protected].