Bankruptcy Reporting Made Easy: Chapter 11 MOR & UST Checklist

Chapter 11 Bankruptcy Reporting Checklist: Stay Compliant

Introduction

Chapter 11 bankruptcy carries strict financial reporting rules. Failure to meet these obligations can result in loss of court confidence or even case dismissal. This checklist outlines the key filings and deadlines for attorneys, CFOs, and consultants navigating a corporate reorganization, helping ensure your team stays in full compliance.

1. Submit the 7-Day Package Immediately

Immediately after filing a Chapter 11 petition, debtors must submit the initial “7-day package” of documents. This includes:

A list of the 20 largest unsecured creditors
A complete creditor matrix with names and addresses
Proof of insurance
Initial financial documents

Timely submission of this package demonstrates cooperation with the U.S. Trustee and sets a strong foundation for the case.

2. Prepare and File Monthly Operating Reports (MORs)

Debtors must track and report monthly income, expenses, cash flow, and financial performance. Use your district’s official U.S. Trustee MOR forms and include:

Bank statements
Balance sheets
Profit and loss statements

These reports are due monthly and must be accurate. Late, incomplete, or incorrect MORs can result in fines, motions to convert or dismiss, or loss of creditor trust. TrueScope Consulting’s MOR services help ensure accuracy and timeliness.

3. Pay U.S. Trustee Fees on Time

Chapter 11 debtors must pay quarterly fees to the U.S. Trustee based on disbursements. To stay compliant:

Calculate fees using the UST fee schedule
Pay each quarter’s fees by the due date (typically the last day of the following month)

Failure to pay timely or underpaying can trigger penalties or court objections.

4. File Post-Confirmation Reports (PCRs) If Required

After a reorganization plan is confirmed, debtors must continue filing quarterly Post-Confirmation Reports until the case closes. These updates document:

Payments to creditors
Plan compliance and performance

Don’t ignore PCRs—even after confirmation, the court expects transparency.

5. Avoid Common Pitfalls

Many Chapter 11 cases are jeopardized by basic missteps:

Never commingle debtor-in-possession (DIP) funds with other accounts
Don’t make unauthorized transfers or payments without court approval
Always meet deadlines for leases, filings, and plan submissions

Violations can trigger trustee motions to convert the case to Chapter 7 or seek dismissal for cause.

Conclusion

Strict compliance builds trust with the court and creditors. This checklist helps attorneys and financial officers stay on top of all obligations—from the initial petition to post-confirmation reporting. TrueScope Consulting provides Chapter 11 compliance support to help debtors avoid critical mistakes and stay in good standing with the U.S. Trustee.