Department of Education Related Party Disclosure Administrative Procedure
Procedure
This document provides guidance on the procedures governing compliance with the “Related Party Disclosure” requirements of Department of Education regulation 34 CFR § 668.23(d). The requirements mandate that institutions receiving federal student aid provide extensive details (name, location, description, and the nature and amount of transactions, financial or otherwise) on all related party transactions in their annual audited financial statements, effective for fiscal years beginning on or after July 1, 2024. The procedure defines both related parties and reportable transactions.
Related Forms
- There are no related forms.