How to Fill Out U.S. Courts Form 101B (w/Examples) + FAQs

Form 101B is the Attachment to Voluntary Petition for Non-Individuals Filing for Bankruptcy Under Chapter 11, and you fill it out by checking the boxes that confirm your debtor’s eligibility under 11 U.S.C. § 1116, attaching the most recent balance sheet, statement of operations, cash-flow statement, and federal tax return, and signing under penalty of perjury before filing it with your voluntary Chapter 11 petition. The form is short, but every line carries weight because the U.S. Trustee, the bankruptcy judge, and your creditors will use it to confirm whether your case qualifies as a small business case or a Subchapter V case under the Small Business Reorganization Act of 2019.

The problem this form solves is simple. Federal bankruptcy law treats small business debtors differently from large corporate debtors, and the court needs a sworn, standardized way to confirm the debtor’s status on day one of the case. Without Form 101B, the court cannot apply the streamlined deadlines in Federal Rule of Bankruptcy Procedure 1007 or the fast-track plan rules in 11 U.S.C. § 1187, and the case can be dismissed or converted.

According to the Administrative Office of the U.S. Courts, business bankruptcy filings rose more than 40% in 2024 alone, and Subchapter V cases now make up nearly one in three Chapter 11 filings, which means Form 101B errors trigger more dismissals each year than ever before.

Here is what you will learn in this guide:

📑 How to read every line of Form 101B and pick the right boxes the first time
⚖️ Which federal statutes and rules govern each disclosure on the form
🏢 Real-world filing examples from retail, healthcare, and crypto debtors
🚫 The seven costliest mistakes that get cases dismissed or converted
🧾 The exact financial attachments the U.S. Trustee will demand on day one

What Form 101B Actually Is

Form 101B is an Official Bankruptcy Form promulgated by the Judicial Conference of the United States under the authority of 28 U.S.C. § 2075. It is an attachment, not a stand-alone petition, which means it never travels alone. It rides with Official Form 101, the Voluntary Petition for Non-Individuals Filing for Bankruptcy, when the debtor is a corporation, partnership, limited liability company, or other non-individual entity that elects Chapter 11.

The form’s plain-English purpose is to let the debtor swear, on the record, whether it qualifies as a small business debtor or a Subchapter V debtor. The consequence of getting this wrong is severe. If the debtor falsely claims small business status, the U.S. Trustee can move to strike the election under 11 U.S.C. § 1188, and the court can sanction the signer under Federal Rule of Bankruptcy Procedure 9011.

A common misconception is that Form 101B is optional for non-individual debtors. It is not. If the debtor is a non-individual filing under Chapter 11, the form must accompany the petition, and the Clerk of the Bankruptcy Court will reject the filing without it. Real example: when Sarah Chen, a paralegal at a Dallas firm, omitted Form 101B from a furniture retailer’s emergency filing, the clerk in the Northern District of Texas flagged the petition as deficient within hours.

Statutory Anchor: 11 U.S.C. § 101(51D) and § 1182

The definition of a small business debtor lives in 11 U.S.C. § 101(51D), and the definition of a Subchapter V debtor lives in 11 U.S.C. § 1182. Both definitions hinge on the debtor’s aggregate noncontingent liquidated debts as of the petition date. The current Subchapter V cap, after the June 21, 2024 Supreme Court order returning the threshold to its statutory level, is \$3,024,725 in aggregate noncontingent liquidated secured and unsecured debts.

The consequence of miscounting debt is that the debtor either loses Subchapter V eligibility or commits fraud on the court. A common misconception is that contingent guarantees count toward the cap; they do not, because § 101(51D) explicitly excludes contingent and unliquidated debts. Marcus Whitfield, owner of a small HVAC company in Phoenix, almost lost his Subchapter V election when his accountant included a contingent personal guarantee on a commercial lease, until counsel corrected the figure before the § 341 meeting.

Where Form 101B Lives in the Filing Stack

The voluntary petition is the lead document, Form 101B is the eligibility attachment, and the Schedules A/B through J plus the Statement of Financial Affairs follow within 14 days under Rule 1007(c). Missing any of these triggers automatic dismissal motions from the U.S. Trustee Program.

Line-by-Line Walkthrough of Form 101B

The form has a small number of lines, but each one is a sworn statement. Skipping or guessing is not allowed under 28 U.S.C. § 1746.

Caption Block

The top of the form repeats the debtor’s full legal name, any aka, fka, or dba names from the last eight years, the case number (if assigned), and the federal judicial district. The plain-English rule is that the caption must match Form 101 exactly, character for character. The consequence of a mismatch is docket confusion, which can delay the automatic stay protections from reaching creditors who search by name.

A real example is Riverbend Coffee Roasters LLC, which filed in the District of Oregon using its trade name Riverbend Coffee in the caption. The court flagged the inconsistency, and counsel had to file an amended petition under Rule 1009. A common misconception is that the dba alone is enough; the registered legal name from the Secretary of State is mandatory.

Box 1: Small Business Debtor Election

Box 1 asks the debtor to declare whether it is a small business debtor as defined in § 101(51D). The debtor checks yes only if its aggregate noncontingent liquidated secured and unsecured debts are at or below the statutory threshold and its primary activity is not the business of owning single-asset real estate.

The consequence of checking yes is that the debtor accepts the streamlined timeline in § 1121(e), which gives a 180-day exclusivity window. The consequence of checking no when yes applies is the loss of those tighter deadlines, which usually means higher legal fees and slower confirmation. A common misconception is that small refers to revenue; the statute focuses on debt size and the nature of the business.

Box 2: Subchapter V Election

Box 2 is the Subchapter V election. Checking this box invokes the small-business reorganization regime created by the Small Business Reorganization Act of 2019, which adds a Subchapter V trustee, eliminates the unsecured creditors’ committee by default, and lets the debtor confirm a plan without a fully consenting class.

The consequence of electing Subchapter V is a 90-day plan deadline under § 1189(b), which is much faster than ordinary Chapter 11. The consequence of missing the deadline is loss of the cramdown benefit and possible dismissal. Aisha Bermudez, owner of a New Jersey bakery, used Box 2 to lock in Subchapter V status and confirmed her plan in 110 days, well below the typical Chapter 11 timeline.

Box 3: Attached Financial Documents

Box 3 requires the debtor to attach the most recent balance sheet, statement of operations, cash-flow statement, and federal income tax return, or a sworn statement that no such documents exist. This requirement comes directly from § 1116(1), which applies to small business debtors as a condition of filing.

The consequence of missing these attachments is an immediate motion to dismiss or convert under § 1112(b). The U.S. Trustee uses these documents to verify the debt cap, set the initial debtor interview, and decide whether to object to the Subchapter V election. A common misconception is that QuickBooks printouts suffice; courts in the Southern District of New York and elsewhere have accepted them, but only when signed under penalty of perjury.

Signature and Verification Block

The signature block requires the debtor’s authorized representative to sign under 28 U.S.C. § 1746. For a corporation, this is usually a board-authorized officer; for an LLC, a manager or member with authority under the operating agreement; for a partnership, a general partner.

The consequence of an unauthorized signature is that the filing can be voided as ultra vires, as the bankruptcy court held in In re Quad-C Funding LLC when a non-managing member signed without board approval. A common misconception is that an attorney can sign Form 101B for the debtor; the attorney signs the petition as counsel, but the debtor representative must sign 101B personally.

Three Real-World Filing Scenarios

The form’s real difficulty shows up in how facts on the ground translate to the boxes. The three scenarios below show the most common patterns.

Filing Situation	Form 101B Outcome
Family-owned restaurant with \$1.8M in debt and a single LLC structure files Chapter 11	Box 1 yes, Box 2 yes, attach last filed Form 1120-S, balance sheet, P&L, cash flow; case proceeds under Subchapter V with a Subchapter V trustee appointed within 7 days
Mid-size retail chain with \$48M in debt across 12 stores files Chapter 11	Box 1 no, Box 2 no, attach audited financials per § 1116 is not required, traditional Chapter 11 deadlines under § 1121 apply, creditors’ committee likely formed
Crypto trading firm with \$2.9M in liquidated debt and \$200M in disputed customer claims files Chapter 11	Box 1 yes, Box 2 yes if disputed claims are unliquidated, attach reviewed financials and tax return, expect a § 1188 status conference within 60 days

Scenario Deep Dive: The Restaurant

Consider Coastal Plate LLC, a seafood restaurant in Charleston with \$1.8 million in debts and three years of tax returns. The owner-manager checks Box 1 and Box 2, attaches the most recent Form 1065 or 1120-S, the balance sheet, the P&L, and the cash-flow statement, and signs personally. The case enters Subchapter V immediately, and the trustee schedules the § 1188 status conference within 60 days.

The consequence of Coastal Plate skipping Box 2 would be loss of the streamlined plan timeline, which usually adds \$50,000 or more in professional fees. A common misconception is that restaurants automatically qualify; landlords with large unliquidated damage claims can push the debtor over the cap if the claims become liquidated before the petition.

Scenario Deep Dive: The Mid-Size Retailer

A 12-store apparel chain with \$48 million in funded debt cannot use Box 1 or Box 2. The debtor checks no on both, files traditional Chapter 11, and prepares for a § 1102 creditors’ committee appointment by the U.S. Trustee. The consequence of trying to game the cap by excluding intercompany debt is conversion to Chapter 7 under § 1112(b).

Real example: in In re Toys “R” Us, Inc., the debtor proceeded as a traditional Chapter 11 because its debt vastly exceeded the small business cap, and Form 101B confirmed that status on day one. A common misconception is that small business is about store count; it is not, it is about debt.

Scenario Deep Dive: The Crypto Firm

A crypto exchange with \$2.9 million in liquidated trade debt and \$200 million in disputed, unliquidated customer claims can sometimes qualify for Subchapter V if the customer claims are truly unliquidated on the petition date. The case In re Caesars Entertainment Operating Co. shows the opposite end of the spectrum, where massive liquidated debt foreclosed any small business election.

The consequence of misclassifying disputed claims is a § 1188 objection from the U.S. Trustee, which can knock the debtor out of Subchapter V mid-case. A common misconception is that disputed equals unliquidated; the two are distinct under § 101(51D).

Federal Statutes and Rules That Govern Form 101B

The form sits at the intersection of several federal authorities. Each authority creates its own consequence.

11 U.S.C. § 1116 is the duty statute that requires the financial attachments. The plain-English rule is that small business debtors must hand over the financials with the petition. The consequence of noncompliance is a § 1112(b)(4)(F) cause for dismissal. David Okonkwo, a paralegal in SDNY, once filed Form 101B without the cash-flow statement, and the U.S. Trustee filed a dismissal motion within nine days.

Federal Rule of Bankruptcy Procedure 1007 sets the time limits for related schedules. The consequence of missing the 14-day deadline is automatic dismissal under Rule 1017(c).

Federal Rule of Bankruptcy Procedure 9011 governs the truthfulness of every signed filing. Sanctions can include monetary penalties, attorney discipline, and referral for prosecution under 18 U.S.C. § 152 for bankruptcy fraud, which carries up to five years in federal prison.

State Nuances and Local Forms

While bankruptcy is exclusively federal under Article I, Section 8 of the U.S. Constitution, each bankruptcy district has local rules that can require extra disclosures. The District of Delaware requires a corporate ownership statement under Local Rule 1007-2, the Southern District of Texas requires a Complex Chapter 11 designation for cases over a debt threshold, and the Northern District of Illinois requires a creditor matrix in a specific format.

The consequence of ignoring local rules is rejection of the filing or loss of complex case benefits like extended deadlines. A common misconception is that local rules are suggestions; under 28 U.S.C. § 2071, each district court has full authority to enforce them.

Mistakes to Avoid When Filling Out Form 101B

Form 101B is short, but the most common mistakes carry outsized consequences. Avoid each of the following.

Listing the trade name instead of the legal name in the caption, which causes PACER docket mismatches and delays creditor notice
Counting contingent guarantees in the small business debt cap, which artificially disqualifies the debtor from Subchapter V
Omitting the federal tax return, which triggers an immediate § 1112(b) dismissal motion from the U.S. Trustee
Letting the attorney sign the form instead of an authorized officer, which can void the filing as unauthorized
Checking Box 2 without checking Box 1, which creates internal inconsistency and invites a § 1188 objection
Filing the form alone without Form 101 attached, which causes the clerk to reject the filing for deficiency
Backdating the signature, which is a federal crime under 18 U.S.C. § 152 and grounds for sanctions under Rule 9011
Using outdated form versions instead of the current Official Form 101B, which causes automatic clerk rejection
Failing to update Box 1 or Box 2 when post-petition facts change, which violates the continuing duty to amend

Do’s and Don’ts

The following do’s and don’ts apply to every Form 101B filing under Chapter 11.

Do’s:

Do verify the debt cap the day you file, because the § 101(51D) threshold can change with each statutory adjustment cycle
Do attach signed and dated financial statements, because unsigned drafts do not satisfy § 1116
Do confirm authority of the signer in the entity’s governing documents before filing
Do preserve electronic backups of all attachments, because the PACER record will be the public record forever
Do calendar all post-filing deadlines under Rule 1007, because missed deadlines can convert the case to Chapter 7

Don’ts:

Don’t guess on Box 2, because a wrong election can cost \$100,000 or more in extra fees
Don’t reuse a prior tax return older than required, because the U.S. Trustee will demand the most recent
Don’t skip the verification language, because 28 U.S.C. § 1746 requires the under penalty of perjury clause
Don’t file paper in districts that mandate CM/ECF e-filing, because the clerk will reject paper filings
Don’t forget to update the form if you discover errors, because Rule 1009 makes amendments mandatory

Pros and Cons of the Subchapter V Election on Form 101B

Choosing Box 2 is one of the most consequential strategic moves in modern bankruptcy practice. Here is how the trade-offs play out.

Pros:

Faster plan confirmation within 90 days under § 1189(b), which lowers professional fees
No creditors’ committee by default under § 1181, which reduces administrative cost
Cramdown without a consenting class under § 1191(b), which gives the debtor real leverage
Equity retention is allowed under § 1181(a), which preserves owner value
Direct dialogue with a Subchapter V trustee instead of a hostile committee, which speeds negotiation

Cons:

Debt cap pressure, because the \$3,024,725 limit can disqualify growing debtors
Disposable income commitment under § 1191(c)(2), which extends payment obligations 3–5 years
No discharge until completion under § 1192, which keeps the debtor on a leash
Trustee oversight fees, because the Subchapter V trustee is paid from the estate
Limited precedent, because Subchapter V is younger than five years in many circuits

Court Rulings That Shape Form 101B Practice

Several recent rulings clarify how courts read Form 101B elections.

In re Phenomenon Marketing & Entertainment, LLC held that a debtor’s single-asset real estate primary activity disqualifies the small business election, even when the debtor’s structure suggests otherwise. The consequence is that the debtor must amend Form 101B and lose Subchapter V benefits.

In re Free Speech Systems LLC addressed how disputed, unliquidated tort liabilities affect the debt cap. The court allowed the Subchapter V election to stand because the disputed defamation judgments were not liquidated as of the petition date.

In re Wright reinforced that misstating debt on Form 101B can support sanctions under Rule 9011 and conversion under § 1112(b). The consequence is that careful debt counting matters more than ever.

Key People, Places, and Organizations

The following entities all play a role in a Form 101B filing.

The Administrative Office of the U.S. Courts publishes the official form
The Judicial Conference Committee on Rules of Practice and Procedure approves form changes
The U.S. Trustee Program reviews every filing for compliance
The Subchapter V trustee is appointed within seven days of the election
The bankruptcy clerk screens the filing for completeness
The bankruptcy judge decides eligibility disputes
The Internal Revenue Service is a frequent priority creditor and reviewer of attached returns

State-Level Procedural Nuances

Although bankruptcy is federal, the venue rules in 28 U.S.C. § 1408 push debtors to specific states. The District of Delaware, the Southern District of New York, and the Southern District of Texas handle the largest share of complex Chapter 11 cases. Each district pairs Form 101B with local supplements, such as the Delaware Local Rule 1007-2 ownership statement or the SDNY General Order M-447 on first-day motions.

The consequence of choosing the wrong venue is a venue transfer motion under 28 U.S.C. § 1412, which can delay relief by weeks. A common misconception is that any state with a single creditor is a proper venue; venue must rest on domicile, principal place of business, principal assets, or a pending affiliate case.

Step-by-Step Filing Workflow

The actual filing sequence rewards preparation. Each step has its own consequence if skipped.

Confirm entity authority through a board or member resolution, because an unauthorized filing can be dismissed for cause under § 1112(b)
Pull the most recent financials and tax return, because § 1116 requires them on day one
Calculate noncontingent liquidated debt as of the petition moment, because that figure controls Box 1 and Box 2
Complete Form 101 first, because Form 101B’s caption must mirror it exactly
Check the correct boxes on Form 101B with sworn certainty
Attach all financial documents in PDF/A format, because CM/ECF requires text-searchable files
Have the authorized representative sign under penalty of perjury per 28 U.S.C. § 1746
File via CM/ECF with the petition, schedules to follow within 14 days
Calendar the § 341 meeting and the § 1188 status conference
Update the form by amendment under Rule 1009 if facts change

Named Example: Tech Startup Filing

Priya Ramaswamy, the CEO of a 25-person SaaS startup in Austin with \$2.4 million in noncontingent liquidated debt, files Chapter 11 in the Western District of Texas. She checks Box 1 and Box 2, attaches the latest Form 1120, the audited balance sheet, the P&L, and the cash-flow statement. She personally signs Form 101B, and the case proceeds smoothly under Subchapter V with confirmation in 88 days.

Form Versioning and Where to Get the Current PDF

The Judicial Conference periodically revises bankruptcy forms, with the most recent updates posted on the official forms page. The consequence of using an outdated form is automatic clerk rejection under most local rules. Always download Form 101B fresh from uscourts.gov on the day of filing, never reuse a stored copy from a prior case, and confirm the revision date stamp at the bottom-left corner of the form.

A common misconception is that bankruptcy software always has the current version; vendor updates can lag the official release by weeks. Real example: Jamal Foster, a paralegal in Atlanta, once submitted a 2020 version of Form 101B in 2024 because his software had not auto-updated, and the clerk bounced the filing within an hour.

How U.S. Trustees Audit Form 101B Filings

The U.S. Trustee Program reviews every Form 101B for accuracy. Reviewers cross-check the attached tax return against IRS transcripts, compare the balance sheet to creditor proofs of claim, and request the initial debtor interview within 14 days of filing.

The consequence of any inconsistency is a follow-up document request, a § 1188 status conference letter, or a motion to convert under § 1112(b). A common misconception is that the U.S. Trustee only acts on creditor complaints; the program runs proactive compliance reviews on every Subchapter V filing.

FAQs

Is Form 101B required for every Chapter 11 case?

No. Form 101B is required only when the debtor is a non-individual entity electing Chapter 11 and either claiming small business or Subchapter V status under § 101(51D) or § 1182.

Can the debtor’s attorney sign Form 101B?

No. The signature must come from an authorized representative of the debtor entity per 28 U.S.C. § 1746; the attorney signs the petition itself but not the eligibility attachment.

Does Form 101B have to be filed on the petition date?

Yes. It is an attachment to Form 101 and must accompany the voluntary petition under Rule 1007 or the clerk will reject the filing as deficient.

Can the debtor change a Box 1 or Box 2 election later?

Yes. The debtor can amend Form 101B at any time under Rule 1009, but the U.S. Trustee can object and the court can deny the amendment if it prejudices creditors.

Do contingent debts count toward the Subchapter V cap?

No. Only noncontingent and liquidated debts count under § 101(51D); contingent guarantees and unliquidated tort claims are excluded from the calculation.

Is the most recent tax return mandatory if the entity has never filed one?

Yes. The debtor must attach a sworn statement under § 1116(1)(B) explaining why no return exists, and failure to do so triggers a dismissal motion.

Can a single-asset real estate entity check Box 1?

No. Single-asset real estate debtors are excluded from the small business definition by § 101(51D) and must proceed under traditional Chapter 11.

Do affiliated debtors all have to make the same election?

Yes. Affiliated debtors generally aggregate their debts under § 101(51D), and inconsistent elections invite a § 1188 objection from the U.S. Trustee.

Can Form 101B be filed in paper instead of electronically?

No. Almost every district mandates CM/ECF e-filing under Rule 5005, and paper submissions are returned unfiled.

Is misstating debt on Form 101B a federal crime?

Yes. False statements on a sworn bankruptcy filing can be prosecuted under 18 U.S.C. § 152 with penalties including up to five years in federal prison.

Does Box 2 automatically appoint a Subchapter V trustee?

Yes. Once Box 2 is checked, the U.S. Trustee appoints a Subchapter V trustee under § 1183 within seven days of the petition.

Can the debtor opt out of Subchapter V after checking Box 2?

Yes. The debtor can move to revoke the election under Rule 1009, but the court will weigh creditor reliance and may deny the motion if substantial proceedings have occurred.

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