11 U.S.C. § 1116

Duties of trustee or debtor in possession in small business cases

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In a small business case, a trustee or the debtor in possession, in addition to the duties provided in this title and as otherwise required by law, shall—(1) append to the voluntary petition or, in an involuntary case, file not later than 7 days after the date of the order for relief—(A) its most recent balance sheet, statement of operations, cash-flow statement, and Federal income tax return; or(B) a statement made under penalty of perjury that no balance sheet, statement of operations, or cash-flow statement has been prepared and no Federal tax return has been filed;(2) attend, through its senior management personnel and counsel, meetings scheduled by the court or the United States trustee, including initial debtor interviews, scheduling conferences, and meetings of creditors convened under section 341 unless the court, after notice and a hearing, waives that requirement upon a finding of extraordinary and compelling circumstances;(3) timely file all schedules and statements of financial affairs, unless the court, after notice and a hearing, grants an extension, which shall not extend such time period to a date later than 30 days after the date of the order for relief, absent extraordinary and compelling circumstances;(4) file all postpetition financial and other reports required by the Federal Rules of Bankruptcy Procedure or by local rule of the district court;(5) subject to section 363(c)(2), maintain insurance customary and appropriate to the industry;(6)(A) timely file tax returns and other required government filings; and(B) subject to section 363(c)(2), timely pay all taxes entitled to administrative expense priority except those being contested by appropriate proceedings being diligently prosecuted; and(7) allow the United States trustee, or a designated representative of the United States trustee, to inspect the debtor’s business premises, books, and records at reasonable times, after reasonable prior written notice, unless notice is waived by the debtor.(Added Pub. L. 109–8, title IV, § 436(a), Apr. 20, 2005, 119 Stat. 112.)Editorial NotesReferences in Text

The Federal Rules of Bankruptcy Procedure, referred to in par. (4), are set out in the Appendix to this title.

Statutory Notes and Related SubsidiariesEffective Date

Section effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under this title before such effective date, except as otherwise provided, see section 1501 of Pub. L. 109–8, set out as an Effective Date of 2005 Amendment note under section 101 of this title.

Notes of Decisions

Cited in 12 cases (6 in the last 5 years), 2006–2025 · leading case: In Re Franmar, Inc., 361 B.R. 170 (Bankr.D. Colo. 2006).

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In Re Franmar, Inc., 361 B.R. 170 (Bankr.D. Colo. 2006). · cites it 13× “AMENDED MEMORANDUM OPINION AND ORDER DENYING THE UNITED STATES TRUSTEE’S MOTION TO DISMISS FOR FAILURE TO COMPLY WITH 11 U.S.C. § 1116 AND FOR OTHER CAUSE UNDER 11 U.”

Andover Covered Bridge, LLC v. Harrington (Andover Covered Bridge, LLC), 553 B.R. 162 (1st Cir. BAP 2016). “Finally, § 1116(4) requires a small business debtor to “file all postpe- *173 tition financial and other reports required by the Federal Rules of Bankruptcy Procedure or by local rule of the district court.”

In re Anvil Holdings LP, 595 B.R. 622 (Bankr. W.D.N.Y. 2019). · cites it 3× “( See 11 U.S.C. § 1116 (1) and § 521(a) ). Anvil still has not bothered to file any monthly operating reports, proof of the establishment of a debtor in possession account, and has not had the retention of counsel approved.”

In re Dreamplay, Inc., 534 B.R. 106 (Bankr. D. Md. 2015). “See 11 U.S.C. § 1116 (1). In response, the Debtor submitted its tax return for the 12 months ending on June 30, 2012 but also asserted that it did not have a "balance sheet, statement of operations, or cash flow statement” because none had been prepared (Dkt.”

In Re Daniels, 362 B.R. 428 (Bankr. S.D. Iowa 2007). “They cite 11 U.S.C. § 1116 (1)(A) as requiring such statements.”

Animo Bancorp, Inc. v. the Capital Markets Co., LLC (Tex. App. 2024). · cites it 2× “If this sub-box is selected, attach the most to proceed under subchapter V recent balance sheet, statement of operations, cash-flow statement, and federal of chapter 11 (whether or not income tax return or if any of these documents do not exist, follow the procedure the debtor…”

Hamilton Staples v. Wood-Staples (M.D. Fla. 2023). “” 11 U.S.C. § 1116 (4). See also 11 U.S.C. § 1187 (b) (requiring compliance with 1116(4) and (7)).”

REILS Fin. SPV v. CIP 1300 U Street Owner, LLC (S.D.N.Y. 2022). “If this sub-box is selected, attach the most recent balance sheet, statement of operations, cash-flow statement, and federal income tax return, or if any of these documents do not exist, follow the procedure in 11 U.S.C. § 1116 (1)(B). O Aplan is being fited with this petition O…”

United Saf. & Alarms, Inc. (Bankr. S.D. Florida 2024). “28 See 11 U.S.C. §§ 1116 (1), 1187(a). 29 ECF No.”

Charles W. Fuqua, II & Ruth A. Fuqua (Bankr. C.D. Ill. 2019). “They also scheduled ownership of about $83,000 of 1 The direction is made pursuant to the requirements of 11 U.S.C. §1116 (1). -2- personal property including automobiles, trucks, a boat, a camper, tools, several small bank accounts, clothing and personal effects, and household…”

M.A.R. Designs & Constr., Inc. (Bankr. S.D. Tex. 2023). “201 11 U.S.C. § 1116 (4). 202 In re Ozcelebi, 639 B.”

Cinemex Holdings USA, Inc. (Bankr. S.D. Florida 2025). “2 Declaration of Rafael Muñoz Pedregal in Support of Subchapter V Petitions and First Day Motions (ECF #13); Ch 11 Case Management Summary (ECF #12); Declaration of Rafael Muñoz Pedregal, Pursuant to 11 U.S.C. § 1116 (1) (ECF #59); Schedules (ECF ##72, 77, 79).”

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