UC Legal - Office of the General Counsel
Form 700: Common Questions and Errors
The most common questions and filing errors are addressed below. Please contact email@example.com if you need additional assistance.
- Report your spouse’s interests. Your spouse’s investments and interests in real property are reportable. Fifty percent of your spouse’s income is considered your income and must be disclosed.
- University salary or reimbursements. You are not required to report the salary or reimbursements for expenses, including travel expenses, that you receive from the University.
- Don’t report personal residences. You need only to report the portion of a personal residence that is used as a place of business for tax purposes.
- Diversified mutual funds are not reportable. Neither are bank accounts, savings accounts, insurance policies or government bonds.
- Use the schedules. Don’t attach brokerage statements or other extraneous information.
- Annual Form 700 is due April 1, 2021. There is no provision in the law for extensions of filing deadlines.