California Form RE 859 is the Mortgage Loan Activity Report — Multi-Lender Transactions that every licensed California real estate broker arranging multi-lender loans under Business & Professions Code §10238 must file with the California Department of Real Estate (DRE). The form reports every multi-lender loan you arranged, sold, or serviced during the calendar quarter so the DRE can confirm you stayed within the strict trust fund, disclosure, and investor-protection rules in §10238 and 10 CCR §2848.
Missing this report — or filing it with bad numbers — is one of the fastest ways to draw a DRE audit and license discipline. The DRE’s Mortgage Loan Activities Unit reviews thousands of these reports each year, and the agency’s published Real Estate Bulletin shows that incomplete or late RE 859 filings appear in roughly 1 in 4 multi-lender enforcement actions. This guide walks the form line by line, shows three real-world examples, and answers the questions brokers ask most.
- 📋 What every box on RE 859 means in plain English and how to fill it
- 🧮 How to reconcile trust funds and delinquency aging without triggering an audit
- 🧑💼 Three full filled-out walkthroughs using named brokers and real numbers
- 📬 Every filing channel, deadline, fee, and proof-of-filing you should keep
- ⚠️ The 10 most common RE 859 mistakes and how each one can cost your license
What the Form Is and Who Must File It
Form RE 859 (Rev. 1/19) is a quarterly compliance report required of any California real estate broker who, within the prior calendar quarter, made, arranged, sold, or serviced one or more multi-lender loans under §10238. A multi-lender loan is a loan funded by more than one lender or investor (up to 10) that meets the technical requirements of §10238(a) — including the threshold percentages, the maximum dollar caps, and the recorded fractional deeds of trust. The report tells the DRE Mortgage Loan Activities Unit exactly what loans you touched, how much investor money you held, and whether any loans went delinquent.
You must file RE 859 if you hold a California broker license and meet any of these triggers in the quarter:
- You arranged at least one new §10238 multi-lender loan.
- You serviced an existing §10238 multi-lender loan with investor funds passing through your trust account.
- You sold a fractional interest in a multi-lender loan to a new investor.
- You held trust funds related to multi-lender activity, even if no new loans closed.
Brokers who handled zero qualifying activity still file a negative report if they previously notified the DRE that they intended to do multi-lender business. The form is not optional, and the DRE treats silence the same as non-compliance under 10 CCR §2848. Common filers include private money brokers, hard-money lenders, trust deed investment brokers, and licensed brokerages that pool investor capital into single trust deeds.
The form coexists with the broader Mortgage Loan Trust Account Review (RE 853) and the Threshold Notification (RE 853A), but RE 859 is the only quarterly activity report tied to §10238. If you also act as a threshold broker under §10232, you may file RE 853 in addition to RE 859.
Before You Start: Documents and Information You Need
Filing RE 859 from a blank screen is the fastest path to errors. The DRE expects every number on the form to tie back to source documents that an examiner can pull during a routine audit under B&P §10148. Build the file before you open the form.
- Your DRE broker license number and NMLS ID. Both are printed on your license certificate. Without them the report cannot be matched to your file and will be returned as deficient.
- The reporting quarter’s trust account bank statements. Every multi-lender deposit and disbursement must reconcile to the bank record, or the DRE will demand a forensic review under §10145.
- Loan ledgers for each multi-lender loan. These show principal balance, interest paid, and impound balances per loan and per investor.
- Recorded fractional deeds of trust. You confirm the recording date, the assigned percentage interest, and the lender’s vesting language for Section II loan detail rows.
- Investor disclosure statements (RE 851A and RE 851B). These prove you delivered the §10232.5 disclosures before each investor funded.
- Delinquency and foreclosure logs. You will need 30/60/90/120-day aging buckets and any Notice of Default recordings.
- Trial balance and trust account reconciliation worksheet. 10 CCR §2831.2 requires a monthly three-way reconciliation that ties to the form’s trust totals.
- Prior quarter’s RE 859. Beginning balances on the new report must equal ending balances on the last one.
- Officer/broker-of-record information. The certifying broker’s full legal name, license number, and signature authority must match DRE records.
- Foreclosure timeline records. For any loan in default, you need the date the NOD was recorded, the trustee’s sale date, and post-sale distribution math.
If any item is missing, stop and gather it. Filing with placeholders almost guarantees a follow-up letter from the Mortgage Loan Activities Unit and can convert a clean quarter into a desk audit.
Where to Get the Form and How to Access It
The only authoritative copy is the PDF posted on the DRE website. Download Form RE 859 (Rev. 1/19) directly from the DRE Forms Library. The revision date prints in the bottom-left footer of page 1; if your copy shows an older revision, throw it away and download fresh, because the DRE rejects superseded versions on intake.
The form is a fillable PDF that opens in Adobe Acrobat Reader, Preview, or any modern browser PDF engine. You can either type entries directly into the form fields and print, or print blank and complete by hand in black ink. The DRE accepts both, but typed forms reduce data-entry errors at the agency and shorten review time. Save a digital copy with your file name including your broker license number and the quarter (e.g., RE859_01234567_Q1-2026.pdf) so audit retrieval is fast.
If you cannot download the form, you may request a paper copy by writing to the DRE Mortgage Loan Activities Unit, P.O. Box 137007, Sacramento, CA 95813-7007, or by calling the DRE’s licensee line at (877) 373-4542. The agency does not currently accept RE 859 through its eLicensing portal, although the DRE has signaled in recent Real Estate Bulletin issues that an online filing channel is under study. For now, paper-by-mail is the standard route.
Brokers who outsource compliance to third-party servicers should still personally download the form and personally sign the certification block. The DRE holds the broker of record — not the servicer — responsible under B&P §10159.2.
Step-by-Step: How to Fill Out Form RE 859 Line by Line
The form has a header block, a Section I summary of trust fund activity, a Section II loan-by-loan schedule, a Section III delinquency and foreclosure schedule, and a broker certification block. Complete each section in the order printed on the form. Do not skip ahead — Section II totals must agree with Section I, and Section III must agree with the delinquency columns of Section II.
Reporting Period (Quarter Ended)
The first field at the top of page 1 asks for the calendar quarter you are reporting on. Enter the quarter end date in MM/DD/YYYY format using the last day of the quarter. For the first quarter of 2026 you would write 03/31/2026; for the fourth quarter you would write 12/31/2026.
For example, broker Maria Lopez reporting January through March 2026 enters 03/31/2026 in the Quarter Ended field. If you file late and the next quarter has begun, you still report the original quarter end date — never the date you are mailing the form. A common mistake is entering the date you signed the report, which causes the DRE to read the report as covering the wrong quarter and ask for a corrected refile. The misconception filers carry is that “quarter ended” means the date the report ends; it actually means the date the calendar quarter ended.
Broker Name and License Number
Enter the broker of record’s full legal name as shown on the DRE license record, followed by the eight-digit broker license number. Use uppercase letters and no nicknames. MARIA LOPEZ, License No. 01234567 is the correct format.
If you operate as a corporation, list the corporate broker’s legal name and corporate license number, with the designated officer named on the signature line later. The most common mistake is using a DBA in this field, which causes the DRE to flag the report as filed by an unlicensed entity and may trigger a B&P §10130 inquiry. The misconception is that team or branding names are acceptable here; only the licensed legal name belongs in this box.
Business Address and Telephone
Provide the address on file with the DRE for your main office. Use street format with no abbreviations the U.S. Postal Service does not recognize, and include suite or unit numbers. 4500 Wilshire Blvd., Suite 300, Los Angeles, CA 90010 is properly formatted.
If you have moved and not yet filed a Change of Address (RE 204), file that first, then put the new address on RE 859. Listing a P.O. Box without a physical address violates 10 CCR §2715, which requires a street address of record. The misconception is that any mailing address is fine; the DRE wants the address that matches your license file.
NMLS Unique Identifier
If you originate consumer-purpose multi-lender loans, you must list your NMLS ID here. Enter the seven-digit number with no dashes. NMLS ID 1234567 is the entry format.
If your multi-lender activity is purely business-purpose and you are not an MLO, write Not Applicable rather than leaving it blank. Leaving the field empty without an explanation creates ambiguity and the DRE typically returns the form for clarification under its MLO oversight rules. The misconception is that NMLS only applies to lenders; brokers who arrange consumer loans must also be MLO-endorsed under SAFE Act requirements.
Section I, Line 1 — Beginning Trust Fund Balance
Enter the dollar amount of investor trust funds you held on the first day of the quarter, tied to multi-lender activity only. This number must equal the prior quarter’s ending balance to the penny. Maria Lopez writes $148,732.16 if her prior Q4 RE 859 ended at that figure.
If this is your first RE 859, enter $0.00 and attach a short cover note explaining the start of activity. The biggest mistake here is rounding to whole dollars, which throws the three-way reconciliation off by cents and triggers a review under 10 CCR §2831.2. The misconception is that pennies do not matter; in trust fund reporting they always do.
Section I, Line 2 — Funds Received from Investors
Report the total dollars investors deposited with you during the quarter to fund or hold for multi-lender loans. Sum all incoming wires, checks, and ACH credits identified as investor principal contributions. $425,000.00 is a typical entry for a mid-size brokerage.
Funds returned to the same investor within 24 hours because of a failed loan funding may be netted, but document each instance in your work papers. Including operating-account deposits here — a frequent error — overstates trust activity and invites a forensic audit. The misconception is that loan-payoff proceeds belong on Line 2; they do not — those go on Line 4.
Section I, Line 3 — Funds Disbursed to Borrowers
Enter the total dollars released from trust to fund new multi-lender loans during the quarter. This figure ties to escrow funding instructions and should match recorded deeds of trust dated within the quarter. $390,000.00 would be the entry if Maria funded three new loans totaling that amount.
Wires that left trust but were returned because of a cancelled escrow are excluded if they came back the same business day; otherwise they count and the return appears on Line 2. A common mistake is including broker fees here, which inflates disbursement totals and misstates loan funding. The misconception is that any cash leaving the trust account is a “disbursement to borrower”; only escrow-funded loan principal qualifies.
Section I, Line 4 — Loan Payments and Payoffs Received
Report all principal, interest, and payoff dollars received on multi-lender loans during the quarter. Break out impound and reserve receipts on the supporting schedule but combine them on Line 4. $112,480.55 would represent the sum of monthly payments and one full payoff.
If a borrower pays late and the funds clear after the quarter ends, do not accrue — record on a cash basis. The frequent error is reporting on an accrual basis, which creates a permanent gap between bank reality and the form. The misconception is that GAAP accounting governs RE 859; the DRE wants cash-basis trust activity.
Section I, Line 5 — Funds Disbursed to Investors
Enter the total dollars paid out to investors during the quarter, including monthly interest distributions and payoff proceeds. Tie the figure to your investor distribution register. $108,910.00 is a realistic example.
If you held a portion of a payoff for trustee-sale costs or insurance reserves, report only the amount that actually reached investors. Reporting gross payoffs without netting reserves overstates Line 5 and forces a refile. The misconception is that distributions equal collections; reserves and unpaid servicing fees often create a small gap.
Section I, Line 6 — Ending Trust Fund Balance
Compute Beginning Balance plus Receipts minus Disbursements. The ending balance must agree with the broker’s three-way trust account reconciliation for the last day of the quarter. $148,732.16 + $537,480.55 − $498,910.00 = $187,302.71, which is what Maria writes on Line 6.
If the math does not tie, do not “plug” the number — fix the underlying ledger first. Plugging is a top-three reason for B&P §10145 discipline. The misconception is that small variances can be “rounded out”; even a $1 plug is a trust-fund violation.
Section II — Loan-by-Loan Schedule
Section II is a row-per-loan schedule that lists every multi-lender loan you arranged, sold, or serviced during the quarter. Each row includes the DRE loan number, property address, original principal, current principal, number of investors, recording date of the deed of trust, interest rate, maturity date, and current status. The schedule must include every loan that was active for any portion of the quarter, even if it paid off mid-quarter.
For a new loan funded on March 12, 2026, Marcus Chen enters loan number 2026-014, property 812 Cedar Ave., Fresno, CA 93720, original principal $185,000.00, current principal $185,000.00, four investors, recording date 03/14/2026, rate 9.50%, maturity 03/14/2028, status Current. Common mistakes include omitting paid-off loans or listing the wrong recording date — both create discrepancies between Section II totals and Section I cash flow. The misconception is that paid-off loans drop off the schedule; they remain until the quarter after payoff so the DRE can trace the cash trail.
Section II — Investor Count and Percentage Interests
For each loan, list the number of fractional investors and confirm no investor exceeds the percentage limits in §10238(h). Investors are counted as of the last day of the quarter. Aisha Patel lists 4 investors on a $185,000 loan with vesting percentages of 35%, 30%, 20%, 15%.
If an investor assigned a fractional interest mid-quarter, list the post-assignment count. The frequent mistake is listing original investors and ignoring assignments, which obscures who actually owns the loan and complicates DRE investor-protection review. The misconception is that assignments do not need DRE visibility; under 10 CCR §2848 they do.
Section II — Loan Status Codes
Enter a status code for each loan: C for current, 30 for 30-day delinquent, 60, 90, 120+, FCL for in-foreclosure, REO for owned post-sale, or PIF for paid in full during the quarter. Use the code printed in the form’s instructions and not your internal abbreviations.
For a loan that became 65 days past due as of quarter end, Janet Reyes enters 60 — not 65 and not “Late”. The frequent mistake is freelancing the codes, which causes the DRE’s automated intake to flag the row. The misconception is that a partial payment resets aging; under DRE practice, aging continues from the contractual due date.
Section III — Delinquency and Foreclosure Detail
Section III expands every loan in Section II marked 60+, FCL, or REO. For each, you provide the date of first delinquency, the date the Notice of Default recorded, the scheduled trustee’s sale date, and the disposition. Carlos Mendez lists loan 2025-099, first delinquency 11/01/2025, NOD recorded 02/12/2026, sale set 06/15/2026, status FCL.
If a loan was reinstated mid-quarter, note the reinstatement date and revert the status to Current on Section II while still showing the foreclosure history on Section III for the quarter it occurred. The frequent mistake is omitting reinstated loans from Section III, which deprives the DRE of the foreclosure-trail data the agency uses for investor-protection enforcement. The misconception is that resolved problems can be quietly removed; quarterly history must be preserved on the report.
Broker Certification and Signature
The certification block at the bottom of the last page requires the broker of record’s wet signature, printed name, license number, and date. By signing, the broker certifies under penalty of perjury that the report is true and complete and that all multi-lender activity was conducted in compliance with §10238 and 10 CCR §2848. Maria Lopez signs in blue ink, prints MARIA LOPEZ, lists 01234567, and dates 04/12/2026.
Electronic signatures are accepted only if they meet the Uniform Electronic Transactions Act standard and are accompanied by an audit trail. The frequent mistake is letting a salesperson or office manager sign for the broker, which voids the certification and exposes the broker to a B&P §10176 charge. The misconception is that an “approved” delegate may sign; only the licensed broker of record can.
Three Filled-Out Examples Using Real Scenarios
The three scenarios below show different sized brokerages working through RE 859 for the quarter ending 03/31/2026. Names and numbers are illustrative.
Scenario 1 — Maria Lopez, Sole Broker, One New Multi-Lender Loan
Maria runs a one-broker shop in Los Angeles and arranged a single new $185,000 multi-lender loan funded by four private investors during the quarter. She also services two prior loans.
| Form Section | What Maria Enters |
|---|---|
| Quarter Ended | 03/31/2026 |
| Broker Name and License | MARIA LOPEZ, 01234567 |
| Business Address | 4500 Wilshire Blvd., Suite 300, Los Angeles, CA 90010 |
| NMLS ID | 1234567 |
| Section I, Line 1 (Beginning Balance) | $148,732.16 |
| Section I, Line 2 (Investor Receipts) | $190,000.00 |
| Section I, Line 3 (Loan Disbursements) | $185,000.00 |
| Section I, Line 6 (Ending Balance) | $165,302.71 |
| Section II Rows | 3 loans listed, all status C |
| Certification | Signed 04/12/2026 in blue ink |
Scenario 2 — Marcus Chen, Mid-Size Brokerage, 25 Active Loans
Marcus operates a Fresno brokerage with 25 active multi-lender loans, three new fundings, two payoffs, and one 60-day delinquency.
| Form Section | What Marcus Enters |
|---|---|
| Quarter Ended | 03/31/2026 |
| Broker Name and License | CHEN CAPITAL, INC., 01998877 |
| Business Address | 812 Cedar Ave., Fresno, CA 93720 |
| NMLS ID | Not Applicable (business-purpose only) |
| Section I, Line 1 | $1,842,615.04 |
| Section I, Line 2 | $612,400.00 |
| Section I, Line 3 | $555,000.00 |
| Section I, Line 6 | $1,798,210.59 |
| Section II Rows | 25 loans listed, 24 C and 1 status 60 |
| Section III | Loan 2025-099 listed with first delinquency 02/01/2026 |
Scenario 3 — Janet Reyes, Negative Quarter with One Foreclosure
Janet’s San Diego brokerage closed no new multi-lender loans this quarter but has one loan in foreclosure that requires Section III reporting.
| Form Section | What Janet Enters |
|---|---|
| Quarter Ended | 03/31/2026 |
| Broker Name and License | JANET REYES, 02114455 |
| Business Address | 1330 Orange Ave., Coronado, CA 92118 |
| NMLS ID | 2114455 |
| Section I, Line 1 | $84,210.00 |
| Section I, Line 2 | $0.00 |
| Section I, Line 3 | $0.00 |
| Section I, Line 6 | $84,210.00 |
| Section II Rows | 1 loan, status FCL |
| Section III | NOD recorded 02/12/2026, sale set 06/15/2026 |
How to File the Completed Form
Mail the original signed RE 859 and any required attachments to the DRE Mortgage Loan Activities Unit, P.O. Box 137007, Sacramento, CA 95813-7007. The DRE does not currently charge a filing fee for RE 859, and there is no online portal accepting the form as of the latest Real Estate Bulletin. Use USPS Certified Mail with Return Receipt so you have a date-stamped proof of filing; many brokers also use USPS Priority Mail Express for in-transit tracking when the deadline is close.
Hand delivery is permitted at the DRE’s Sacramento office at 1651 Exposition Blvd., Sacramento, CA 95815 during posted business hours. Ask the front desk to date-stamp your courtesy copy and keep that copy in your audit binder. The DRE does not currently accept RE 859 by fax, and email submissions are not considered filed. Processing time runs three to six weeks, after which the DRE either accepts the report silently or sends a deficiency letter requesting corrections.
Retain a complete copy — including all attachments and your trust account reconciliation — for at least three years per B&P §10148. The retained copy plus your USPS green card is your proof of timely filing if a dispute arises later. Brokers who file electronically using a service bureau still keep a wet-ink original in the file, since the DRE may demand the original during an inspection.
The hard deadline is 30 days after the calendar quarter ends, meaning April 30, July 30, October 30, and January 30 (or the next business day if those dates fall on a weekend or holiday). A late report is treated as a §10238(k) violation and can be combined with other findings to support license discipline.
What Happens After You File
Once mailed, RE 859 enters the DRE Mortgage Loan Activities Unit’s intake queue. Staff review the form for math accuracy, internal consistency between Sections I, II, and III, and agreement with the prior quarter’s ending balance. If everything ties, you typically hear nothing — silence equals acceptance under DRE practice.
If staff find a deficiency, you receive a written letter requesting clarification, a corrected refile, or supporting documents within a stated timeline (usually 15 to 30 days). Failure to respond is itself a violation and can ripen into a formal accusation under B&P §10100. The DRE publishes selected disciplinary outcomes in its Real Estate Bulletin, and recent issues show suspensions and restricted licenses tied to repeated late or false RE 859 filings.
Repeated red flags (large unexplained swings in trust balances, multiple delinquencies, or ending balances that do not match three-way reconciliations) typically trigger an on-site audit by a DRE Special Investigator. Audit scope can expand from the multi-lender book to your entire trust fund operation under 10 CCR §2831.2. Brokers who maintain clean reconciliations and respond promptly to deficiency letters rarely escalate to formal discipline.
Mistakes to Avoid When Filling Out the Form
- Filing after the 30-day deadline. Late filing is a standalone §10238(k) violation that can support discipline.
- Beginning balance does not match prior quarter ending balance. This is the single most common deficiency and forces an immediate refile.
- Plugging the math on Line 6. Any unsupported plug is a trust-fund violation under §10145.
- Using a DBA in the broker name field. The DRE reads this as filing by an unlicensed entity.
- Skipping paid-off loans on Section II. Their cash flow drives Section I; omission breaks the tie-out.
- Misusing status codes. Free-form labels like “Late” or “OK” cause automated intake to bounce the row.
- Letting a non-broker sign the certification. The certification is void and the broker faces a §10176 charge.
- Listing a P.O. Box as the business address. This violates the address-of-record rule.
- Reporting on accrual instead of cash basis. Creates permanent gaps between trust bank activity and the report.
- Forgetting Section III when a loan is 60+ delinquent. The omission is a substantive disclosure failure, not a clerical error.
- Using an outdated form revision. The DRE rejects superseded versions on intake.
- Filing by email or fax. Those channels are not accepted; only mail or hand delivery counts.
Do’s and Don’ts
- Do download the form fresh from the DRE Forms Library every quarter, because the agency replaces revisions without notice.
- Do reconcile your trust account three ways before opening the form, because the math drives every Section I line.
- Do keep the broker’s wet-ink certification, because the DRE may demand the original during an inspection.
- Do mail by USPS Certified Mail, because the green card is your only proof of timely filing.
- Do retain the complete file for at least three years, because B&P §10148 requires it.
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Do file a negative report when activity is zero, because silence is treated as non-compliance.
-
Don’t let a salesperson sign for the broker of record, because the certification will be void.
- Don’t round to whole dollars, because penny variances signal trust-fund problems.
- Don’t combine multi-lender activity with non-multi-lender loans, because RE 859 covers only §10238 transactions.
- Don’t use email or fax to submit, because those channels are not accepted.
- Don’t delete paid-off loans from Section II in the quarter they paid off, because the DRE needs the cash trail.
- Don’t file on the deadline day at the post office, because mail delays can push the postmark past the cutoff.
Pros and Cons of Filing on Your Own vs. With Help
| Filing Pro Se | Using a Compliance Service |
|---|---|
| Lower cost | Higher cost but predictable |
| Full familiarity with your loans | Specialist familiarity with DRE expectations |
| Faster turnaround when math is clean | Built-in second set of eyes on reconciliations |
| Direct DRE contact in deficiencies | Service handles correspondence for you |
| Builds in-house expertise long term | Reduces audit risk in busy quarters |
Filing on your own makes sense when your multi-lender book is small and your bookkeeping is tight. Outsourcing to a compliance service or CPA familiar with §10238 makes sense when your loan count grows past 10 active loans, when you have any loans past 30 days delinquent, or when prior filings drew DRE deficiency letters. Either way, the broker of record signs and remains personally responsible.
A growing number of California private money brokers also use specialized trust deed servicing platforms that auto-generate Section II and III schedules from the underlying loan ledger. These platforms reduce error rates dramatically but do not absolve the broker of certification responsibility.
FAQs
Is RE 859 the same as the threshold report under §10232?
No. RE 859 reports §10238 multi-lender activity quarterly. The §10232 threshold report uses Form RE 853 and applies when annual loan volume crosses statutory thresholds.
Do I file RE 859 if I had zero multi-lender activity?
Yes. A negative report is required if you previously notified the DRE of intent to do multi-lender business. Filing zero protects you from a non-filing finding.
Can I file RE 859 electronically?
No. The DRE currently accepts RE 859 only by mail or hand delivery to the Mortgage Loan Activities Unit. The agency has discussed an online channel but none is live.
When is the report due each quarter?
Yes, there is a fixed deadline — 30 days after the calendar quarter ends, so April 30, July 30, October 30, and January 30, with the next business day applying when those dates fall on a weekend or holiday.
Do I write my DBA or my legal license name in the Broker Name field?
No to the DBA. Use the legal licensed name shown on your DRE record; using a DBA can be read as filing by an unlicensed entity.
Do I list paid-off loans on Section II?
Yes. Loans paid off during the reporting quarter must appear on Section II with status PIF so the cash trail ties to Section I.
Should I list assigned investor interests at quarter-end count?
Yes. Investor counts and percentages on Section II reflect the post-assignment ownership as of the last day of the quarter.
Can my office manager sign the certification?
No. Only the broker of record can sign. A delegate signature voids the certification and exposes the broker to discipline.
Do I need an NMLS ID on the form?
Yes, if you arrange consumer-purpose multi-lender loans. Business-purpose only brokers write Not Applicable in the field.
Is there a filing fee for RE 859?
No. The DRE does not currently charge a fee for RE 859 filings, but late or deficient filings can carry indirect costs through audits and discipline.
Do I report on cash or accrual basis?
No to accrual. RE 859 is cash-basis only; record receipts and disbursements when they actually clear the trust account.
Can I round to whole dollars to keep the form clean?
No. Penny accuracy is required because the form must tie to the three-way trust reconciliation under 10 CCR §2831.2.
What happens if my beginning balance does not match last quarter’s ending balance?
No acceptance — the DRE returns the report as deficient. Fix the underlying ledger and refile rather than plug the difference.
How long must I keep my RE 859 file?
Yes, at least three years under B&P §10148. Keep the signed original, attachments, reconciliations, and USPS proof of mailing together.
Related reading
- How to Fill Out California Form RE 227 (w/Examples) + FAQs
- How to Fill Out California Form RE 4053 (w/Examples) + FAQs
- How to Fill Out California Form RE 851 (w/Examples) + FAQs
- How to Fill Out California Form RE 870 (w/Examples) + FAQs
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