Consumer Bankruptcy Journal Fall 2015 | Page 78

Form Modernization Overview

Official Form 106A/B

Overview:
Official Form 106A/B, Schedule A/B: Property replaces Official Form 6A, Real Property and Official Form
6b, Personal Property in cases of individual debtors.
New Form Elements:

Part 4, Describe Your Financial Assets, is designed to allow the debtor to list information pertaining to specific
financial accounts on designated line numbers. Two new categories of financial assets are added: “Bonds, mutual
funds, or publicly traded stocks” and “Claims against third parties, whether or not you have filed a lawsuit or made
a demand for payment.” In addition, qualified ABLE accounts, as defined in 26 U.S.C. § 529A(b), are added to the
list of accounts in question 24. This change is made in response to the Tax Increase Prevention Act of 2014, Pub.
Law No. 113-295, which excludes ABLE account contributions meeting the specified requirements from property of
the estate.

Line 31 was formerly line
9 of Schedule B
Line 31 adds a new
section to list the
beneficiary and cash
surrender value
Line 32 was formerly line
20 of Schedule B
Line 33 was formerly line
21 of Schedule B
Line 34 was formerly line
21 of Schedule B
Line 35 was formerly
included in line 35 of
Schedule B
A line has been added to
total all the entries in
Part 4

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