Dissolving or Terminating a PAC

Whenever a PAC or BQC determines that it will no longer accept any contributions or make any expenditures, the committee can file a final campaign finance report and a termination statement. The final report must cover the period from the close of the last reporting period to the date of termination. Prior to terminating, the PAC must dispose of any surplus and report how the funds were disposed of in the final report. The committee can do this by making contributions to other PACs, BQCs, party committees, candidates, non-profits, or by making a transfer back to the general treasury, if appropriate. The committee must also dispose of any loans, debts, or other obligations that are unpaid and outstanding at the time of the committee’s termination in the manner prescribed by the Commission. Until the termination statement is filed, the committee must continue to file campaign finance reports.