How to Fill Out and File Official Bankruptcy Form 106C: Exemptions and Columns

To fill out Bankruptcy Form 106C, work line by line through a four-column table: describe each piece of property you want to keep, copy its value from Schedule A/B, enter either that value or the exemption cap (whichever is lower), and cite the exact statute that authorizes the exemption. The form is short, but every entry has to match an item you already listed on Schedule A/B and a specific exemption law you are entitled to use.

Gather These Before You Open the Form

Schedule C is a derivative document. It pulls from work you have already done and from statutes you need to look up, so having the right materials in front of you prevents most of the mistakes trustees flag later.

Your completed Schedule A/B (Official Form 106A/B). Every row on Schedule C has to reference a line from this inventory, and the values must match.
Current fair market values for each asset you want to protect. Use what the item would sell for today in its present condition, not what you paid. For vehicles, use an industry pricing guide; for household goods, check used-goods marketplaces.
Current payoff balances on any mortgage, car loan, or recorded judgment against your property. You need these to figure out your equity.
The exemption statutes you plan to cite. If you are using federal exemptions, that means specific subsections of 11 U.S.C. § 522(d). If you are using state exemptions, you need the exact code section and dollar cap for each category.

Pick Federal or State Exemptions First

At the top of Schedule C you check one box declaring which exemption system you are using. Under 11 U.S.C. § 522(b), you choose between the federal exemptions listed in § 522(d) and the exemptions your home state provides. You cannot combine the two. One system covers your entire filing.¹

Most states have opted out of the federal list, which means residents must use state exemptions. A smaller group of states lets you choose, and the choice is worth running both ways because homestead protection in particular ranges from a few thousand dollars in some states to unlimited coverage in others.

The 730-Day Residency Rule

If you moved within the two years before filing, your current state’s exemptions may not be available. Section 522(b)(3)(A) ties your exemption rights to the state where you lived for the full 730 days before your filing date. If you were not in a single state for that entire stretch, the law looks to where you lived for the majority of the 180 days preceding the 730-day period. If that math leaves you with no state’s exemptions, you can fall back on the federal list regardless of whether your state has opted out.¹

Working Through the Four Columns

The body of the form is a table. Each row is one piece of property. Fill in the columns left to right.

Column 1: Describe the Property and Cite Schedule A/B

Enter a brief, specific description and reference the line number from Schedule A/B. “Furniture” is too vague; “living room sofa” works. If you own the item jointly with someone else, note that and describe only your ownership interest.²

Column 2: Current Value of Your Portion

Copy the value straight from Schedule A/B. This is the full fair market value of your interest. Do not subtract mortgages, car loans, or other liens; equity math happens separately. If you share ownership, enter only the value of your share.²

Column 3: Amount of Exemption Claimed

For each row you check one of two boxes. Check “100% of fair market value” when the exemption law protects that property category entirely (some states fully exempt all clothing, for example) or when the property’s value falls below the applicable cap. Enter a specific dollar amount when the property is worth more than the exemption allows; the number you enter is the statutory maximum. The working rule is simple: enter the Column 2 value or the exemption cap, whichever is less.

Column 4: Specific Law That Allows the Exemption

Enter the exact statute. Federal citations look like “11 U.S.C. § 522(d)(1)” for the homestead or “11 U.S.C. § 522(d)(5)” for the wildcard. State citations need the exact code section and subsection. Citing the wrong provision is one of the most common reasons trustees object, so check your citation against your state’s exemption table or your bankruptcy court’s local reference chart.

Common Property Categories and Their Federal Caps

Federal exemption amounts adjust every three years. The figures below apply to cases filed between April 1, 2025, and March 31, 2028. If you are using state exemptions, these numbers do not apply and you need to look up your own.

Homestead, § 522(d)(1): up to $31,575 in equity in your primary residence.
Motor vehicle, § 522(d)(2): up to $5,025 in equity in one vehicle.
Household goods, § 522(d)(3): up to $800 per item, $16,850 aggregate.
Jewelry, § 522(d)(4): up to $2,125.
Wildcard, § 522(d)(5): $1,675 in any property, plus up to $15,800 of any unused homestead. A renter with no home equity effectively has $17,475 to protect anything.
Tools of the trade, § 522(d)(6): up to $3,175 in tools, books, or equipment used in your profession.

How to Handle Property With a Loan on It

Column 2 asks for the full value, but what the trustee cares about is your equity. If your house is worth $250,000 and you owe $240,000 on the mortgage, your equity is $10,000, and that is what your homestead exemption needs to cover. If the exemption fully covers your equity, the trustee has no financial reason to sell. If it falls short, the difference is non-exempt equity. Run this analysis before you finalize Column 3 so you know whether a specific dollar claim will do the job.

Retirement Accounts

Retirement savings are often the largest asset a filer owns, and they get strong protection. Employer plans governed by ERISA (401(k)s, pensions, 403(b)s, 457 plans) are protected without any dollar cap under the anti-alienation provision of 29 U.S.C. § 1056(d).⁴ Traditional and Roth IRAs are capped. Under 11 U.S.C. § 522(n), the combined value is exempt up to $1,711,975 for cases filed on or after April 1, 2025, and amounts rolled over from an employer plan do not count against that cap.¹

List each retirement account on its own row. Check “100% of fair market value” if the balance is below the applicable cap. For the law column, cite 29 U.S.C. § 1056(d) for ERISA-qualified plans and either 11 U.S.C. § 522(d)(12) or your state’s equivalent for IRAs.

Filing the Form

Schedule C is part of the full petition package and carries no separate filing fee. File it with your initial petition if at all possible. Under Federal Rule of Bankruptcy Procedure 1007, if your schedules are not ready at filing you have 14 days to submit them; missing that deadline can get your case dismissed.⁵ After filing, provide a complete copy to the assigned trustee so there are no follow-up requests ahead of the meeting of creditors.

What Happens After You File

Every case includes a meeting of creditors, usually called the 341 meeting, where the trustee questions you under oath about your assets and the exemptions you claimed. Expect questions about how you valued specific items and why you picked particular exemptions. Bring documentation: vehicle pricing printouts, comparable sales for real estate, and bank statements as of the filing date.

The trustee and any creditor have 30 days after the 341 meeting concludes to object to an exemption. An objection typically argues that you undervalued the property, cited the wrong statute, or claimed more than the law allows. If no one objects within that window, the exemptions become final.⁶

Amending Schedule C

Federal Rule of Bankruptcy Procedure 1009 lets you amend your schedules at any time before your case closes, whether you forgot an item, misstated a value, or realized a different exemption statute offers better protection.⁷ An amended Schedule C costs $34, which the court can waive for good cause.⁸ The 30-day objection clock resets on any item you modify, and you must notify the trustee and affected parties.⁶

One last point on accuracy. Everything on Schedule C is signed under oath. Under 18 U.S.C. § 152, intentionally undervaluing property or concealing assets in a bankruptcy filing is a federal crime punishable by up to five years in prison, a fine, or both.⁹ Courts treat honest errors that get amended very differently from deliberate concealment, so if you spot a mistake, file an amendment promptly.

1
Office of the Law Revision Counsel. 11 USC 522 – Exemptions
2
United States Courts. Official Form 106C – Schedule C: The Property You Claim as Exempt
3
National Consumer Law Center. April 1 Increase of Federal Bankruptcy Exemptions, Other Dollar Amounts
4
Office of the Law Revision Counsel. 29 USC 1056 – Form and Payment of Benefits
5
Legal Information Institute. Federal Rules of Bankruptcy Procedure Rule 1007 – Lists, Schedules, Statements, and Other Documents; Time to File
6
Legal Information Institute. Federal Rules of Bankruptcy Procedure Rule 4003 – Exemptions
7
Legal Information Institute. Federal Rules of Bankruptcy Procedure Rule 1009 – Amending a Voluntary Petition, List, Schedule, or Statement
8
United States Courts. Bankruptcy Court Miscellaneous Fee Schedule
9
Office of the Law Revision Counsel. 18 USC 152 – Concealment of Assets; False Oaths and Claims; Bribery