Guidance Regarding Statements of Economic Interests
The Illinois Governmental Ethics Act requires certain state officials and employees to file Statements of Economic Interest with the Office of the Secretary of State annually on or before May 1. Further, the Office of the Secretary of State is charged with annually notifying those officials and employees of the duty to file and providing up-to-date Statement of Economic Interest forms and an internet-based system of filing.
The following guidance is required by 5 ILCS 420/4A-102(c).
The General Assembly has determined that certain state officials and employees must annually file a Statement of Economic Interest. A list of those offices and positions required to file can be found at 5 ILCS 420/4A-101. Further, beginning February 1 of each calendar year, certain persons are required to report to the Secretary of State the names and mailing lists of persons required to file. Thereafter, on or before April 1 of each year, the Secretary of State will then notify the required persons of the responsibility to file and will provide in that notice the form and manner in which filing must be accomplished.
Further, the act specifies that local government may enact disclosure requirements which require more information, and requires yet other employees to file Statements of Economic Interest with local county clerks (see 5 ILCS 420/4A-101.5). To that end, anyone unsure of whether to file should contact his or her ethics officer.
The required Economic Interests to be listed in a Statement of Economic Interest was recently updated by the Illinois General Assembly. Each filer should familiarize himself or herself with the requirements of 5 ILCS 420/4A-102 to ensure that all required Economic Interests are properly recorded. The amounts listed in this section are set to change beginning in the year 2025 and every 5 years following, to reflect the rate of inflation as determined by the Consumer Price Index for All Urban Consumers as issued by the United States Department of Labor. The Secretary of State will update this website with the current amounts beginning in December 2025.
The Statement of Economic of Interest form to be filed with the Secretary of State is set forth in 5 ILCS 420/4A-103 and will be made available on this website and at the Secretary of State link to the internet-based filing system.
The form will include the instructions exactly as set forth by the General Assembly in this section.
Any person failing to file the requirement Statement of Economic Interests on or before May 1 will be notified by the employee’s ethics officer within seven days.
Late fees will begin to accrue beginning on May 1 and will increase to a rate of $100 per day from May 16 until the date of filing. Pursuant to 5 ILCS 420A-107, a failure to file the required Statement of Economic Interest by May 31 may result in action taken by the Attorney General, the local State’s Attorney, or forfeiture of the office or position of employment for which the statement was initially required.
The Office of the Secretary of State offers an internet-based filing system. The internet-based system is available at Statement of Economic Interests (ilsos.gov). Please note that not all persons required to file may use the internet-based system of filing. To verify whether a particular position is prohibited from filing on the internet-based system of filing, please refer to 5 ILCS 420/4A-108(b)(3).
Please further note that pursuant to 5 ILCS 420/4A-106, all filings received by the Secretary of State are public documents and shall be made available for examination and copying by the public.