Confidential Financial Disclosure Reports (OGE-450)
Financial Disclosure Reports
Certain Federal government employees in HUD designated covered positions are required to file a Confidential Financial Disclosure Report ( OGE-450
) annually or within 30 days after occupying a covered position. (5 C.F.R § 2634.901-909
) Annual reports must be filed by February 15. Employees who must file are in positions which require government action regarding the following types of matters:
- Contracting or procurement, or;
- Investigating or prosecuting violations of criminal or civil law (Positions in the Office of the Inspector General), or;
- Administering or monitoring grants, subsidies, licenses, or other federally conferred financial or operational benefits, or;
- Regulating or auditing any non-Federal entity; or
- Other activities in which the final decision or action will have a direct and substantial economic effect on the interest of any non-Federal entity.
Public Financial Disclosure Reports (OGE-278)
The Ethics in Government Act of 1978, as amended, requires senior officials in the executive, legislative, and judicial branches to file public reports of their finances and other interests outside the Government. At the Department, individuals including all Senate-confirmed Presidential appointees, all employees appointed to an Executive Schedule position, all members of the Senior Executive Service, all Administrative Law Judges, and all Schedule C employees, are required to file public financial disclosure reports (OGE 278s) within 30 days of entering and leaving a position at HUD, as well as annually while serving in a covered position and within 30 days after they terminate government service. Annual reports, covering the previous calendar year, are due between January 1st and May 15th each year. On April 4, 2012, President Obama signed into law the Stop Trading on Congressional Knowledge Act of 2012 (the STOCK Act), which imposes additional requirements on those individuals required to file an OGE-278.
OGE Form 201: Request to Inspect or Receive Copies of OGE Form 278
The OGE-278 reports filed by HUD officials may be publically available in compliance with OGE’s systems of record requirements. These records are available pursuant to the Ethics in Government Act of 1978 (5 U.S.C. app. 4 § 105) and OGE's regulations implementing this statute. The OGE Form 201 (PDF) is used to request copies of the public financial disclosure reports and other specified records of Presidential appointees subject to Senate confirmation.
However, records cannot be used:
• for any unlawful purpose;
• for any commercial purpose, other than by news and communications media for dissemination to the general public;
• for determining or establishing the credit rating of any individual; or
• for use, directly or indirectly, in the solicitation of money for any political, charitable, or other purpose.
Additionally, drafts and reports still within the first 30 days after submission are not releasable. The Department does not keep OGE-278 reports more than six years.
OGE, not HUD, certifies the Public Financial Disclosure Reports of Senate-confirmed Presidential appointees. Therefore, requests for copies of those reports should be requested from OGE (along with a completed OGE Form 201). Please visit www.oge.gov for more information on requesting these types of reports.
Electronic Filing of Financial Disclosure Reports thru FDOnline
HUD employees are now required to submit financial disclosure report information electronically, through FDOnline. FDonline is a flexible web-based system designed to improve communications, reduce cumbersome and inefficient paperwork processes and improve the overall financial disclosure process. The software is hosted in a secure federal government hosting facility and has undergone extensive security testing. Automated notifications and reminders ensure that paperwork is completed in a timely fashion. An intelligent interview wizard guides the employee through the complex maze of properly completing the financial disclosure paperwork. The system saves information from year to year and only requires that employees update any new information from the previously submitted report.