How to Fill Out U.S. Courts Form 107 (w/Examples) + FAQs

Yes, every individual who files a personal bankruptcy case in federal court must complete and sign Official Form 107, the Statement of Financial Affairs, which forces the debtor to disclose income, transfers, lawsuits, and other financial events from the recent past. The form is required under Federal Rule of Bankruptcy Procedure 1007(b)(1), and missing or false answers can lead to case dismissal, denial of discharge, or criminal prosecution under 18 U.S.C. § 152.

Form 107 is one of the most fact-heavy schedules in the bankruptcy packet, and it acts as a sworn snapshot of where the debtor’s money came from, where it went, and who else may have a claim to it. The Chapter 7 panel trustee, the Chapter 13 standing trustee, and the Office of the United States Trustee read this form line by line at the meeting of creditors held under 11 U.S.C. § 341.

According to the Administrative Office of the U.S. Courts caseload data, more than 494,000 non-business bankruptcy cases were filed in the 12-month period ending December 31, 2024, and every one of those individual debtors had to file a Form 107. That single statistic shows the scale of compliance the form demands.

Here is what you will learn in this guide:

• 📄 How to complete each of the 11 parts of Form 107 line by line
• ⚖️ Which federal statutes and rules control each disclosure
• 🧾 Real examples for single filers, joint filers, and small-business debtors
• 🚫 The most common mistakes that trigger trustee objections
• ❓ Answers to the top 10 questions debtors ask about Form 107

What Form 107 Is and Why It Exists

Official Form 107, titled the Statement of Financial Affairs for Individuals Filing for Bankruptcy, is the federal disclosure document every individual debtor must file alongside the petition, schedules, and Form 122 means test. It was rolled out as part of the Forms Modernization Project on December 1, 2015, when the Judicial Conference Advisory Committee on Bankruptcy Rules split the old Form 7 into separate individual and non-individual versions.

The form exists because Congress requires honest disclosure as the price of debt relief. Section 521(a)(1)(B)(iii) of the Bankruptcy Code, found at 11 U.S.C. § 521, forces the debtor to file a statement of the debtor’s financial affairs. The consequence of skipping or fudging this duty is severe, and it ranges from automatic dismissal under 11 U.S.C. § 521(i) to denial of discharge under 11 U.S.C. § 727(a)(4).

A common misconception is that Form 107 only matters in Chapter 7 cases. In reality, it is mandatory in Chapter 7, Chapter 11 (including Subchapter V small-business cases), Chapter 12, and Chapter 13. The same form, the same questions, and the same penalties apply across every consumer chapter.

The Legal Backbone of Form 107

The form’s authority comes from a chain of three sources that work together. The first link is the Bankruptcy Code itself, which compels disclosure. The second is the Federal Rules of Bankruptcy Procedure, which set the timing and the format. The third is the Official Form, which standardizes the questions across all 94 federal judicial districts.

Under Bankruptcy Rule 1007(c), an individual debtor must file the Statement of Financial Affairs within 14 days after the petition date, unless the court extends the deadline. Missing that 14-day window typically leads to an automatic Notice of Intent to Dismiss from the clerk’s office.

A real-world example shows the stakes. Maria, a Chapter 7 filer in the Northern District of Georgia, filed her petition on March 3 but did not file Form 107 until March 25. The clerk dismissed her case on day 22, and she lost the automatic stay just before a scheduled foreclosure sale. She had to refile and pay a second filing fee under 28 U.S.C. § 1930.

Who Must Sign and File

Every individual debtor signs Form 107 under penalty of perjury, and joint debtors each sign their own copy of the same form. If a bankruptcy petition preparer helped fill out the form for a fee, that preparer must also sign and disclose their identifying information under 11 U.S.C. § 110.

The consequence of an unsigned Form 107 is that the clerk treats the filing as deficient. The court issues a deficiency notice, and the debtor has a short window, often 7 days, to cure the defect or face dismissal. A common misconception is that an attorney’s electronic signature substitutes for the debtor’s signature, but the Electronic Case Filing rules require the debtor’s original wet or e-signature retained by counsel.

Part 1 — Marital Status and Where You Lived

Part 1 asks two questions. Question 1 asks for the debtor’s marital status on the petition date. Question 2 asks where the debtor lived during the last three years and whether the debtor’s spouse lived in a separate address.

The plain-English purpose is to lock in the debtor’s residency for venue and exemption purposes. Venue is governed by 28 U.S.C. § 1408, which requires the debtor to file in the district where they have resided for the greater part of the 180 days before filing. Exemptions are governed by 11 U.S.C. § 522(b)(3)(A), which uses a 730-day lookback to pick the controlling state.

The consequence of misstating residence is the loss of valuable exemptions. A debtor who recently moved from Texas to California may still claim Texas exemptions if Texas was the domicile during the larger half of the 730-day period. A common misconception is that the debtor uses the current state’s exemptions automatically, which is wrong under § 522(b)(3)(A).

Example: David moved from Houston to Los Angeles 400 days before filing. He must list both addresses on Form 107 Part 1 Question 2, and he must claim Texas exemptions, which include an unlimited homestead, instead of California’s capped homestead under California Code of Civil Procedure § 704.730.

Part 2 — Sources of Income

Part 2 contains Question 4 (income from employment or operation of a business) and Question 5 (other sources of income). The debtor must report gross income for the current calendar year up to the petition date, plus the two prior calendar years.

The plain-English explanation is that the trustee uses these numbers to test whether the debtor is hiding earnings or a side business. The trustee compares Part 2 to the means test on Form 122A-1 or 122C-1 and to the tax returns required under 11 U.S.C. § 521(e)(2).

The consequence of mismatched numbers is a Rule 2004 examination, where the trustee can compel the debtor to produce pay stubs, 1099s, and bank statements. A common misconception is that gross income equals take-home pay. It does not. Gross income includes pre-tax retirement contributions, health insurance premiums, and garnishments.

Example: Priya, a registered nurse, earned 95,000 dollars in W-2 wages and 12,000 dollars in 1099 contract nursing income. She must list 107,000 dollars in Question 4, broken out by source, even though her bank deposits only show 78,000 dollars in net pay.

Reporting Non-Wage Income

Question 5 captures every other income stream, and the list is broad. It covers Social Security, unemployment, child support, alimony, gambling winnings, tax refunds, lawsuit recoveries, and gifts above 600 dollars. The official instructions, available in the Form 107 Committee Notes, require the debtor to identify the source and the gross amount.

The consequence of omitting non-wage income is two-fold. First, the trustee can revoke a discharge under 11 U.S.C. § 727(d) within one year. Second, the U.S. Trustee Program can refer the case for criminal investigation under 18 U.S.C. § 152(2) for a false oath.

A real example: Marcus won 4,200 dollars at a regional poker tournament eight months before filing. He did not list it because he had already spent the money. The Chapter 7 trustee found the 1099-MISC during the tax review and filed an adversary proceeding to deny discharge. The court denied discharge under § 727(a)(4)(A) for a knowingly false oath.

Part 3 — Certain Payments and Transfers Before Bankruptcy

Part 3 contains Questions 6 through 9, and it is the most litigated section of Form 107. It covers payments to creditors, payments benefiting insiders, repossessions, foreclosures, and setoffs that happened in the 90 days, one year, or two years before filing depending on the question.

The trustee uses these answers to find preferential transfers under 11 U.S.C. § 547 and insider preferences under § 101(31). A preference is a payment to a creditor on an old debt within 90 days of filing (or one year for insiders) that lets that creditor receive more than they would in a hypothetical Chapter 7 liquidation.

The consequence of the trustee finding a preference is a clawback lawsuit against the creditor, often a family member. The family member then has to repay the trustee, who redistributes the cash to the unsecured pool. A common misconception is that paying back Mom and Dad before filing is a good faith move, when in fact it is a textbook insider preference.

The Aggregate Thresholds

Question 6 of Form 107 only requires reporting payments to a single creditor that aggregate to more than 600 dollars in the 90 days before filing for primarily consumer debt cases. This 600-dollar floor comes from 11 U.S.C. § 547(c)(8).

For non-consumer debt cases, the threshold is 7,575 dollars under § 547(c)(9), and that figure adjusts every three years. The most recent adjustment took effect on April 1, 2025, per the Judicial Conference notice, and the next scheduled adjustment lands on April 1, 2028.

Example: Carlos, a sole proprietor, paid 9,000 dollars to a single trade vendor 60 days before filing. Because his debts are primarily business debts, the 7,575-dollar threshold applies, and he must list the payment on Question 6.

Part 4 — Legal Actions, Repossessions, and Setoffs

Part 4 contains Questions 9, 10, and 11. The debtor must list every lawsuit, court action, or administrative proceeding the debtor was a party to in the year before filing, plus any property that was repossessed, seized, or assigned for the benefit of creditors, plus any setoff exercised by a creditor.

The plain-English purpose is to alert the trustee to potential causes of action that belong to the bankruptcy estate. Under 11 U.S.C. § 541(a)(1), every legal claim the debtor owns becomes property of the estate the moment the petition is filed.

The consequence of failing to list a pending lawsuit is judicial estoppel. Federal courts, including the Eleventh Circuit in Burnes v. Pemco Aeroplex, 291 F.3d 1282 (11th Cir. 2002), routinely bar undisclosed claims from being pursued post-discharge. The debtor loses the lawsuit even if it was worth millions.

Example: Aisha had a slip-and-fall personal injury claim worth 80,000 dollars but did not list it on Form 107 Question 9. After discharge, the defendant’s lawyer found the omission and moved to dismiss. The court applied judicial estoppel and dismissed the lawsuit, costing Aisha her entire recovery.

Part 5 — Setoffs, Assignments, and Property in Storage

Part 5 contains Questions 12 through 14. It captures property held by an assignee for the benefit of creditors, property held by another person, and property stored in a public storage unit.

The trustee uses these answers to find non-exempt assets to administer. A storage unit holding antique furniture or a safe deposit box holding gold coins can yield distributions for unsecured creditors, and the trustee will demand the keys at the § 341 meeting.

A common misconception is that storage units holding only sentimental items do not need to be listed. They do. Question 14 has no value floor, and the trustee decides whether the contents are worth liquidating.

Part 6 — Environmental Information

Part 6 contains Questions 15, 16, and 17. It asks about environmental law notices, hazardous materials releases, and judicial or administrative proceedings related to environmental laws.

The trustee uses these answers to gauge potential cleanup liability under statutes like CERCLA, 42 U.S.C. § 9601. Environmental claims can survive bankruptcy under Ohio v. Kovacs, 469 U.S. 274 (1985), so this section matters even in consumer cases involving rural property.

Example: Tom owned a small auto repair shop on rural Pennsylvania land. He did not list a 2023 EPA notice about underground tank leakage. The trustee abandoned the property under 11 U.S.C. § 554, but the state environmental agency still pursued Tom personally for cleanup costs that survived the discharge.

Part 7 — Business Connections

Part 7 contains Question 27 about businesses the debtor has connected to in the four years before filing, and Question 28 about bookkeepers and accountants. Connected to is broad. It covers sole proprietorships, partnerships, LLC memberships, officer or director roles, and 5-percent-or-more equity stakes.

The plain-English purpose is to help the trustee evaluate whether the debtor has a hidden business interest that could yield a recovery. The consequence of omitting a defunct LLC is the same as omitting an active one: a § 727(a)(4) discharge denial.

A common misconception is that a closed business does not need to be listed. The four-year lookback in Question 27 captures even fully wound-up entities, and the trustee may still pursue the business’s outstanding accounts receivable.

Examples of Completed Form 107 Entries

The three scenarios below illustrate how typical fact patterns translate onto the form. Each table is presented as a Fact Pattern → Form 107 Entry map.

Scenario A: W-2 Wage Earner With Family Loan Repayment

Fact Pattern	Form 107 Entry
Debtor earned 72,000 dollars in 2025 W-2 wages	Question 4: list 72,000 dollars, source = ABC Corp
Debtor repaid 3,500 dollars to mother 60 days before filing	Question 7: list mother as insider, 3,500 dollars
Debtor’s wages were garnished 1,800 dollars in last 90 days	Question 8: list garnishing creditor, 1,800 dollars
Debtor lived at one address for 5 years	Question 2: list current address only

Scenario B: Self-Employed Contractor With Lawsuit

Fact Pattern	Form 107 Entry
Sole proprietor earned 110,000 dollars in 1099 income	Question 4: list 110,000 dollars, source = self-employment
Pending breach-of-contract lawsuit against ex-client	Question 9: list case caption, court, status
Truck repossessed 4 months before filing	Question 8: list lender, vehicle VIN, value
Operates DBA “Sam’s Handyman LLC” dissolved 2 years ago	Question 27: list LLC and dissolution date

Scenario C: Joint Filers With Recent Move

Fact Pattern	Form 107 Entry
Spouses moved from Florida to Texas 200 days pre-filing	Question 2: both spouses list both addresses
Joint tax refund of 6,200 dollars received 4 months ago	Question 5: list 6,200 dollars, source = IRS refund
Sold timeshare to friend for 1 dollar 18 months ago	Question 18: list as transfer outside ordinary course
Joint checking account at Chase	Question 20: list Chase account, last 4 digits

Mistakes to Avoid on Form 107

The following errors cause the largest share of trustee objections and discharge denials. The list is not exhaustive, but each item below is a frequent flier in U.S. Trustee enforcement reports.

• Mistake 1: Forgetting to list a tax refund as income on Question 5, which causes the trustee to claim the refund as a non-exempt asset under In re Barowsky, 946 F.2d 1516 (10th Cir. 1991).
• Mistake 2: Treating a payment to a relative as too small to matter, which violates Question 7 because the insider rule has no minimum dollar threshold for the form.
• Mistake 3: Listing only net pay instead of gross pay on Question 4, which triggers a means-test mismatch with Form 122A-1.
• Mistake 4: Omitting a closed LLC on Question 27, which can later be characterized as concealment under 11 U.S.C. § 727(a)(2).
• Mistake 5: Skipping the storage unit on Question 14, which lets the trustee allege fraudulent concealment of assets.
• Mistake 6: Forgetting a lawsuit where the debtor is the plaintiff on Question 9, which leads to judicial estoppel under Burnes v. Pemco.
• Mistake 7: Listing a transfer as gift on Question 18 when it was actually a sale for less than reasonably equivalent value, exposing the recipient to a fraudulent-transfer clawback under 11 U.S.C. § 548.
• Mistake 8: Failing to disclose a safe deposit box on Question 21, which is a stand-alone § 727(a)(4) issue even if the box is empty.
• Mistake 9: Treating gambling winnings as non-income on Question 5, contradicting IRS Topic 419 and creating a false oath risk.

Do’s and Don’ts of Form 107

The following lists summarize the mindset that keeps debtors out of trouble. Each point includes the why so the rule sticks.

Do’s: – Do gather two years of tax returns before answering Part 2, because the trustee will compare every line. – Do print bank statements for the last 12 months, because Question 20 ties to deposit and account history. – Do disclose every pending or threatened lawsuit, because judicial estoppel is permanent. – Do list every business interest from the last four years, because dormancy does not erase the duty. – Do re-read the form before signing, because the perjury oath attaches at signature.

Don’ts: – Don’t guess at dates, because unknown is a safer answer than a wrong date that the trustee will catch. – Don’t omit small payments to family, because insider preferences have no de minimis safe harbor on Form 107. – Don’t sign a blank form, because it is a federal crime under 18 U.S.C. § 152(3). – Don’t rely on memory for storage unit contents, because the trustee will inspect. – Don’t treat amendments as optional, because Bankruptcy Rule 1009 lets you amend Form 107 any time before the case closes.

Pros and Cons of Doing Form 107 Yourself

Filing pro se without a lawyer is allowed under 28 U.S.C. § 1654, but Form 107 is the most common reason pro se cases collapse. The list below weighs the trade-offs.

Pros: – Pro: No attorney fee, which saves an average of 1,500 dollars in Chapter 7 cases per the American Bankruptcy Institute fee survey. – Pro: Full control over the narrative, which some debtors prefer for privacy. – Pro: Faster filing if the debtor is well-organized and the case is simple. – Pro: Access to free help through court-sponsored self-help desks in many districts. – Pro: Form 107 is plain-English, not Latin-heavy, so the questions are readable.

Cons: – Con: A single false oath can destroy the discharge, and the debtor cannot un-file the bankruptcy. – Con: Trustees apply the same standard to pro se debtors as to represented ones, with no leniency. – Con: Mistakes on Question 7 about insider payments often trigger lawsuits against family members. – Con: Pro se debtors miss exemption planning that a lawyer would catch on Question 18 transfers. – Con: A pro se debtor who loses a discharge cannot refile a Chapter 7 for eight years under 11 U.S.C. § 727(a)(8).

Key Entities Behind Form 107

Several federal and state actors shape how Form 107 is drafted, filed, and policed. The Judicial Conference of the United States approves the form. The Advisory Committee on Bankruptcy Rules drafts revisions every few years. The Administrative Office of the U.S. Courts publishes the official version online.

Inside each case, the panel trustee or standing trustee is the primary auditor. The U.S. Trustee Program at the Department of Justice supervises trustees and prosecutes fraud referrals. In the six judicial districts of Alabama and North Carolina, the Bankruptcy Administrator program plays the same role.

Creditors also matter. A creditor can file a motion for Rule 2004 examination to grill the debtor on Form 107 answers, and a creditor can file an adversary proceeding to deny discharge under 11 U.S.C. § 523.

Recap of Key Rulings on Form 107

Several published opinions guide how courts read Form 107 disclosures. In In re Coombs, 193 B.R. 557 (Bankr. S.D. Cal. 1996), the court denied discharge after the debtor omitted a 17,000-dollar gambling loss from the predecessor of Form 107.

In Robb v. Schindler, 142 B.R. 589 (D. Mass. 1992), the court ruled that I forgot is not a defense to a § 727(a)(4) false oath when the omission concerns a major asset. In In re Sholdra, 249 F.3d 380 (5th Cir. 2001), the Fifth Circuit affirmed denial of discharge for a debtor who tried to fix Form 7 (now 107) only after the trustee caught the omissions.

These cases share a theme. Honesty on Form 107 is non-negotiable, and after-the-fact amendments rarely cure intentional omissions.

State Nuance Layer

Federal law controls Form 107, but state law shapes some of the answers. Question 18 transfers are tested against each state’s Uniform Voidable Transactions Act. The lookback period for a state-law fraudulent transfer can stretch to four or even six years, longer than the federal two-year window in § 548.

Texas and Florida apply unlimited homestead exemptions under Texas Property Code § 41.001 and Article X, Section 4 of the Florida Constitution. California offers two exemption systems under CCP § 703.140 and CCP § 704. The choice of system affects how the debtor frames Question 18 transfers and Question 13 property held for others.

How to File and Amend Form 107

Most debtors file Form 107 electronically through their attorney’s CM/ECF account, and pro se debtors file paper originals at the clerk’s office or through the Electronic Self-Representation tool where available. The clerk date-stamps the form and routes it to the trustee.

Amendments are governed by Bankruptcy Rule 1009(a), which allows amendment as a matter of right before the case is closed. The amendment fee is set in the Bankruptcy Court Miscellaneous Fee Schedule, currently 34 dollars for adding or changing creditor information.

Example: Jordan realized two months after filing that he had forgotten a 2,000-dollar payment to his uncle. He filed an amended Form 107 under Rule 1009, paid the 34-dollar fee, and notified the trustee in writing. The trustee accepted the amendment, but still pursued the uncle for an insider preference under § 547(b).

FAQs

Is Form 107 the same as Form 7?

No. Form 7 was the pre-2015 version of the Statement of Financial Affairs. The Forms Modernization Project replaced it on December 1, 2015, splitting it into Form 107 for individuals and Form 207 for non-individuals.

Do joint filers each file a separate Form 107?

No. Joint filers complete one combined Form 107 under Bankruptcy Rule 1015, but each spouse signs the same document under penalty of perjury. The form has clearly marked Debtor 1 and Debtor 2 columns.

Can I amend Form 107 after my § 341 meeting?

Yes. Bankruptcy Rule 1009(a) allows amendments any time before the case closes. However, late amendments may not cure a § 727(a)(4) false oath if the trustee already discovered the omission.

Do I have to list cash gifts I gave to my children?

Yes. Question 13 of Form 107 requires reporting all gifts totaling more than 600 dollars per recipient in the two years before filing, and gifts to insiders have no minimum threshold under 11 U.S.C. § 101(31).

Is Form 107 required in Chapter 13?

Yes. Bankruptcy Rule 1007(b)(1) requires every individual debtor in Chapter 7, 11, 12, or 13 to file the Statement of Financial Affairs alongside the petition.

Can the trustee subpoena documents based on Form 107 answers?

Yes. Under Bankruptcy Rule 2004, the trustee or any party in interest can compel the debtor to produce documents and testify about any disclosure on Form 107.

Do I list payments made by my employer through wage garnishment?

Yes. Question 8 of Form 107 captures involuntary payments, including wage garnishments and tax levies, made in the 90 days before filing. The garnishments may also be recoverable preferences under § 547.

Is gambling income reportable on Form 107?

Yes. Question 5 covers all sources of income, and gambling winnings are income under IRS Topic 419. Failure to disclose can result in denial of discharge under § 727(a)(4)(A).

Will Form 107 information become public?

Yes. Bankruptcy filings are public records under 11 U.S.C. § 107(a), accessible through PACER. Limited redactions are available for Social Security numbers and minor children under Bankruptcy Rule 9037.

Can I lose my discharge for one mistake on Form 107?

Yes. A single materially false statement made knowingly and fraudulently is enough for denial under 11 U.S.C. § 727(a)(4)(A), as the Fifth Circuit confirmed in In re Sholdra. Honesty is the only safe path.