Report your solo legal practice in Part 2.  In addition, report what will happen to your solo legal practice in Part 3 (see Part 3 of this guide for details).

For You

Part 2

Report a solo legal practice if the value of the practice was more than $1,000 at the end of the reporting period or if you received more than $200 in income during the reporting period.

Description:  Indicate that you practice law as a solo practitioner.  You may also include the name under which you do business; however, it is not required.

EIF:  Select “N/A.”

Value:  Report the value of the practice by selecting the appropriate category.  The value of the practice would include all assets held by the practice, unless itemized separately.

Income Type:  Describe the type of income as “legal fees.”

Income Amount:  Provide the exact amount of income received during the reporting period.

Other Interests

Referral Fees:  If you have an arrangement to receive referral fees from another attorney after you enter government service, report the arrangement in Part 3.

Contingency Fee Interests:  If you have any interests in contingency fee cases, report these interests in Part 2 and Part 3 using the instructions provided in this guide.

Business Assets and Liabilities:  You need not itemize the assets of your legal practice in Part 2.  Disclosing the legal practice itself is normally sufficient.  As an exception to this rule, you would report any assets that are unrelated to the operations of the practice.  Report any liabilities for which you are personally liable in Part 8.