Should a brief “Note” or “Next Activity” statement print after each case on Form 3?
There is no requirement for case status comments to appear on Form 3. The Form 1 section entitled “Major Activities Affecting Case Closure” is sufficient. Certain chapter 7 software products offer an optional feature that prints brief case status or “next activity” comments on Form 3. Some trustees find the brief comments on Form 3 to be helpful in administering their cases. 28) There is a change to Column 7 of Form 3, which shows for each case the date of actual disposition by final report (TFR), final account (TDR), no-asset report (NDR), conversion (C), dismissal (D), or reassignment (R). In cases without a TFR, the trustee must now enter the projected TFR filing date. At the onset of a case, the trustee may not be able to estimate the TFR filing date. Is it permissible for Column 7 to be blank until a TFR date can be projected? No. For the first reporting period after the case is filed, the trustee must enter a realistic estimate of when the TFR will be filed. This date appears on
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- Should a brief "Note" or "Next Activity" statement print after each case on Form 3?
