If you file an incumbent OGE Form 278 report, you must report transactions including purchases, sales, and exchanges of securities in excess of $1,000 throughout the year. This periodic reporting obligation applies to stocks, bonds, commodity futures, and other types of securities; however, there is no need to report transactions in excepted investment funds such as mutual funds, or in real property, life insurance, or cash accounts.
Transactional reports must be submitted within 30 days of learning that a transaction has occurred, but no later than 45 days after the date of the transaction. It is critical to report transactions in a timely fashion as any late submission will result in a $200 late filing fee penalty.
You report transactions using the OGE Form 278-T, and you can report more than one transaction on a single 278-T form. Once you have completed the form, your Initial Reviewer will need to review and sign the form before forwarding the report to L/EFD.
Any questions concerning this notice may be directed to L/EFD Financial Staff at (202) 663-3770 or L-FED Financial Staff.