Home360FEC Form 3 ComplianceProper Data Entry to Forgive a Loan Made By the Candidate

39.3. Proper Data Entry to Forgive a Loan Made By the Candidate

The data entry to forgive a candidate loan is as follows:

1) The original loan receipt must be saved to the candidate's record, not an individual record
2) The receipt must have the following data entry:

Type = Loan
Subtype = Made by Candidate

3) The loan forgiveness transaction must also be a receipt saved to the candidate's record
4) The receipt must have the following data entry:

Type = Loan
Subtype = Forgiveness

5) The two receipts must be linked together using the "Add Transaction Links" tool

This will cause the loan to show an outstanding balance of zero on the Form 3 report.

 

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