It compares the debtor’s opinion of each scheduled asset’s value, the trustee’s estimated net value to the estate for each estate asset, and the actual value realized by the trustee.

It also supports the decision regarding administration of each asset.  For assets not administered, Form 1 reflects abandonments, whether past or future, formal or informal.  For assets administered or to be administered, Form 1 reflects the amounts realized and the anticipated remaining value of assets not completely liquidated.

Accessing the Report

From the Trustee Suite Main Menu toolbar, select ‘Reports’, click on the ‘UST Forms’ tab and select ‘Form 1, 2 and 3’ from the Print Reports screen to invoke the Parameters for Forms 1, 2 and 3 screen (shown below).

Generating the Report

From the Parameters for Forms 1, 2 and 3 screen, populate the following fields:

• Generate:  Select the ‘Form 1’ checkbox.
• Trustee:  Select the Trustee number or ‘-All’.
• Case:  Select the Case number via the drop-down box.
• Date Range:  Enter the appropriate date range.
• Date Signed:  Enter the date the form was signed (the default is the current date).
• Sort by:  Select either ‘Case No.’ or ‘Case Name’ via the radio buttons.

Printing the Report

From the Parameters for Forms 1, 2 and 3 screen, select from the following options:

• Preview:  Selecting this button enables you to view the form (shown above) before printing.
• Print:  Selecting this button sends the report to the default printer.
• To PDF:  This button prints the report to PDF and saves a copy to Document Management.
• Cancel:  This button undoes any changes and cancels the print job.
• Save Defaults:  This button sets the current field selections as the default each time this report is accessed.
• Options:  Select the ‘Options’ button to invoke the following screen and then select the appropriate parameters:

Unique Form 1, 2 and 3 Parameters

• Trustees to Include when -All- is Chosen (leaving blank selects all):  More than one Trustee generated report can be selected with this.  To choose more than one Trustee, set the parameter screen Trustee field to ‘-All-‘ Then either type the list of Trustee numbers, separated by commas, or right click in the field and select Trustees from a list.
• Case Selection:  Select either ‘All Cases’, ‘Asset Cases Only’, ‘No Asset Cases Only’ or ‘All Asset Cases and No Asset Cases when NDR > 341A + 120’ via the radio buttons.
• Orientation: Select either ‘Landscape’ or ‘Portrait’ via the radio buttons.
• Signature Line:  Select ‘Form 1’ via the checkbox.
• Form 1 and 2:
  • Select either ‘Include Cases with a Closed Date or TDR Date in the Period’ or ‘Include Cases with a TFR Date Before the End of the Period’.
  • Collate:  Select the appropriate option from the drop-down menu.
• Footnote Fields:  One-character fields that you use to indicate on Form 1 and Form 2 certain features.  In this case, only the feature applicable to Form 1 is included below.
  • Diff. Original Trus. Value:  Form 1 only.  The character typed in this field will indicate when the current Trustee value is different than the original Trustee value in Column 3.
• Set to 180 Day Reporting:  When you click on this button, the Forms 1, 2 and 3 Options will be automatically set to the U.S. Trustee guidelines for 180 Day Reports.
• Click on the ‘OK’ button to return to the Parameters for Forms 1, 2 and 3 screen or on the ‘Cancel’ button to discard your selections.
• If you want to save your selected parameters, click on ‘Save Defaults’.
• To run the report, click on ‘Print’, ‘Preview’ or ‘to PDF’.