OUT OF STATE PAC DISCLOSURE REQUIREMENTS
Iowa Code section 68A.201(5) requires a committee or organization not organized as a committee in Iowa to disclose each contribution to the Board.
If a committee or organization is not registered and filing campaign disclosure reports with the Federal Election Commission (FEC) or another state's disclosure agency, the committee or organization must register and file disclosure reports with the Board as a political committee (PAC) or as a permanent organization making a one-time contribution.
If a committee or organization is registered with the FEC or another state's disclosure agency, the committee or organization may either register as an Iowa PAC and file disclosure reports or for each contribution in excess of $50 file a verified statement of registration (VSR) with the Board.
1. A VSR is required to be filed for each contribution of $50 or more to an Iowa committee. Click here to register or file.
2. VSR's are required to be received in the Board's office on or before the 15th day after the date of the contribution (date of contribution is the date of the contribution check). Reports are required to be filed electronically by mandate.
3. A VSR that is late-filed is subject to a monetary penalty. Additional criminal and civil sanctions may also be imposed.
4. The VSR requires an Iowa Resident Agent. This is an Iowa resident who agrees to be responsible for any correspondence regarding the contribution.
5. There is no need to send the Board copies of the FEC report that shows the contribution.
6. The general operating funds of corporations, financial institutions, and insurance companies may not be used for contributions to an Iowa candidate. Such funds may be used for contributions to a ballot issue committee.
7. Iowa has no contribution limits (the amount of money that may be received from any one source).
8. The fair market value purchase of an item from an Iowa committee does NOT require the filing of a VSR.