Justification for a Nonsubstantive Change--OGE 450

U. S. OFFICE OF GOVERNMENT ETHICS
JUSTIFICATION FOR A NONMATERIAL/NONSUBSTANTIVE CHANGE
OGE FORM 450 EXECUTIVE BRANCH CONFIDENTIAL
FINANCIAL DISCLOSURE REPORT
MAY 2020

In December 2019, the Office of Management and Budget reviewed and approved
a three-year extension under the Paperwork Reduction Act of the OGE Form 450
Executive Branch Confidential Financial Disclosure Report. OGE will be issuing final
rule amendments soon that revise the executive branch financial disclosure regulation at 5
C.F.R. §§ 2634.304 and 2634.907(g) to reflect the retroactive increase, applicable as of
January 1, 2020, of the threshold for reporting of gifts, reimbursements and travel
expenses for both the public and confidential report systems. The Ethics in Government
Act and OGE regulations tie these increases to the increase in March 2020 by the General
Services Administration of “minimal value” for purposes of the Foreign Gifts and
Decorations Act to $415 for the three-year period 2020-2022. See GSA, FMR B-50,
Foreign Gift and Decoration Minimal Value (2020). The new aggregation threshold for
the reporting of gifts and reimbursements received from any one source on financial
disclosure reports is “more than $415”; items worth “$166 or less” do not need to be
counted towards that overall threshold.
These reporting threshold values are indicated in several places on the OGE Form
450 in the instructions and examples to Part V: Gifts and Travel Reimbursements. OGE
proposes to update these threshold values from “$156” and “$390” to “$166” and “$415,”
respectively. These changes to the OGE Form 450 have no material effect on the burden
to filers; rather, the changes simply update the form to provide the correct information to
filers regarding the currently-applicable aggregation threshold for reporting gifts and
travel reimbursements. OGE also proposes minor changes to the example dates in Part IV
and Part V to make them more contemporary.