11 U.S.C. § 501 — Filing of proofs of claims or interests

Page 103 TITLE 11—BANKRUPTCY § 501 1990—Pub. L. 101–311, title I, § 106(b), June 25, 1990, 104 Stat. 268, added item 560. 1986—Pub. L. 99–554, title II, § 283(q), Oct. 27, 1986, 100 Stat. 3118, amended items 557 to 559 generally, sub- stituting ‘‘interests in, and abandonment or other dis- position of grain assets’’ for ‘‘in and disposition of grain’’ in item 557. 1984—Pub. L. 98–353, title III, §§ 352(b), 396(b), 470(b), July 10, 1984, 98 Stat. 361, 366, 380, added items 557, 558, and 559. 1982—Pub. L. 97–222, § 6(b), July 27, 1982, 96 Stat. 237, added items 555 and 556. SUBCHAPTER I—CREDITORS AND CLAIMS § 501. Filing of proofs of claims or interests (a) A creditor or an indenture trustee may file a proof of claim. An equity security holder may file a proof of interest. (b) If a creditor does not timely file a proof of such creditor’s claim, an entity that is liable to such creditor with the debtor, or that has se- cured such creditor, may file a proof of such claim. (c) If a creditor does not timely file a proof of such creditor’s claim, the debtor or the trustee may file a proof of such claim. (d) A claim of a kind specified in section 502(e)(2), 502(f), 502(g), 502(h) or 502(i) of this title may be filed under subsection (a), (b), or (c) of this section the same as if such claim were a claim against the debtor and had arisen before the date of the filing of the petition. (e) A claim arising from the liability of a debt- or for fuel use tax assessed consistent with the requirements of section 31705 of title 49 may be filed by the base jurisdiction designated pursu- ant to the International Fuel Tax Agreement (as defined in section 31701 of title 49) and, if so filed, shall be allowed as a single claim. (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2578; Pub. L. 98–353, title III, § 444, July 10, 1984, 98 Stat. 373; Pub. L. 109–8, title VII, § 702, Apr. 20, 2005, 119 Stat. 125; Pub. L. 116–260, div. FF, title X, § 1001(d)(1), (3)(A), Dec. 27, 2020, 134 Stat. 3217, 3218.) HISTORICAL AND REVISION NOTES LEGISLATIVE STATEMENTS The House amendment adopts section 501(b) of the Senate amendment leaving the Rules of Bankruptcy Procedure free to determine where a proof of claim must be filed. Section 501(c) expands language contained in section 501(c) of the House bill and Senate amendment to per- mit the debtor to file a proof of claim if a creditor does not timely file a proof of the creditor’s claim in a case under title 11. The House amendment deletes section 501(e) of the Senate amendment as a matter to be left to the rules of bankruptcy procedure. It is anticipated that the rules will enable governmental units, like other credi- tors, to have a reasonable time to file proofs of claim in bankruptcy cases. For purposes of section 501, a proof of ‘‘interest’’ in- cludes the interest of a general or limited partner in a partnership, the interest of a proprietor in a sole pro- prietorship, or the interest of a common or preferred stockholder in a corporation. SENATE REPORT NO. 95–989 This section governs the means by which creditors and equity security holders present their claims or in- terests to the court. Subsection (a) permits a creditor to file a proof of claim or interest. An indenture trustee representing creditors may file a proof of claim on be- half of the creditors he represents. This subsection is permissive only, and does not re- quire filing of a proof of claim by any creditor. It per- mits filing where some purpose would be served, such as where a claim that appears on a list filed under pro- posed 11 U.S.C. 924 or 1111 was incorrectly stated or list- ed as disputed, contingent, or unliquidated, where a creditor with a lien is undersecured and asserts a claim for the balance of the debt owed him (his unsecured claim, as determined under proposed 11 U.S.C. 506(a)), or in a liquidation case where there will be a distribu- tion of assets to the holders of allowed claims. In other instances, such as in no-asset liquidation cases, in situ- ations where a secured creditor does not assert any claim against the estate and a determination of his claim is not made under proposed 11 U.S.C. 506, or in situations where the claim asserted would be subordi- nated and the creditor would not recover from the es- tate in any event, filing of a proof of claim may simply not be necessary. The Rules of Bankruptcy Procedure and practice under the law will guide creditors as to when filing is necessary and when it may be dispensed with. In general, however, unless a claim is listed in a chapter 9 or chapter 11 case and allowed as a result of the list, a proof of claim will be a prerequisite to allow- ance for unsecured claims, including priority claims and the unsecured portion of a claim asserted by the holder of a lien. The Rules of Bankruptcy Procedure will set the time limits, the form, and the procedure for filing, which will determine whether claims are timely or tardily filed. The rules governing time limits for filing proofs of claims will continue to apply under section 405(d) of the bill. These provide a 6-month-bar date for the filing of tax claims. Subsection (b) permits a codebtor, surety, or guar- antor to file a proof of claim on behalf of the creditor to which he is liable if the creditor does not timely file a proof of claim. In liquidation and individual repayment plan cases, the trustee or the debtor may file a proof of claim under subsection (c) if the creditor does not timely file. The purpose of this subsection is mainly to protect the debtor if the creditor’s claim is nondischargeable. If the creditor does not file, there would be no distribu- tion on the claim, and the debtor would have a greater debt to repay after the case is closed than if the claim were paid in part or in full in the case or under the plan. Subsection (d) governs the filing of claims of the kind specified in subsections (f), (g), (h), (i), or (j) of proposed 11 U.S.C. 502. The separation of this provision from the other claim-filing provisions in this section is intended to indicate that claims of the kind specified, which do not become fixed or do not arise until after the com- mencement of the case, must be treated differently for filing purposes such as the bar date for filing claims. The rules will provide for later filing of claims of these kinds. Subsection (e) gives governmental units (including tax authorities) at least six months following the date for the first meeting of creditors in a chapter 7 or chap- ter 13 case within which to file proof of claims. Editorial Notes AMENDMENTS 2020—Subsec. (f). Pub. L. 116–260, § 1001(d)(3)(A), struck out subsec. (f) which related to CARES forbearance claims. Pub. L. 116–260, § 1001(d)(1), added subsec. (f). 2005—Subsec. (e). Pub. L. 109–8 added subsec. (e). 1984—Subsec. (d). Pub. L. 98–353 inserted ‘‘502(e)(2),’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2020 AMENDMENT Pub. L. 116–260, div. FF, title X, § 1001(d)(3), Dec. 27, 2020, 134 Stat. 3218, provided that the amendment made Page 104 TITLE 11—BANKRUPTCY § 502 by section 1001(d)(3)(A) is effective on the date that is 1 year after Dec. 27, 2020. EFFECTIVE DATE OF 2005 AMENDMENT Amendment by Pub. L. 109–8 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 a note under section 101 of this title. EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–353 effective with respect to cases filed 90 days after July 10, 1984, see section 552(a) of Pub. L. 98–353, set out as a note under section 101 of this title. CHILD SUPPORT CREDITORS OR THEIR REPRESENTATIVES; APPEARANCE BEFORE COURT Pub. L. 103–394, title III, § 304(g), Oct. 22, 1994, 108 Stat. 4134, provided that: ‘‘Child support creditors or their representatives shall be permitted to appear and inter- vene without charge, and without meeting any special local court rule requirement for attorney appearances, in any bankruptcy case or proceeding in any bank- ruptcy court or district court of the United States if such creditors or representatives file a form in such court that contains information detailing the child support debt, its status, and other characteristics.’’ § 502. Allowance of claims or interests (a) A claim or interest, proof of which is filed under section 501 of this title, is deemed al- lowed, unless a party in interest, including a creditor of a general partner in a partnership that is a debtor in a case under chapter 7 of this title, objects. (b) Except as provided in subsections (e)(2), (f), (g), (h) and (i) of this section, if such objection to a claim is made, the court, after notice and a hearing, shall determine the amount of such claim in lawful currency of the United States as of the date of the filing of the petition, and shall allow such claim in such amount, except to the extent that— (1) such claim is unenforceable against the debtor and property of the debtor, under any agreement or applicable law for a reason other than because such claim is contingent or unmatured; (2) such claim is for unmatured interest; (3) if such claim is for a tax assessed against property of the estate, such claim exceeds the value of the interest of the estate in such property; (4) if such claim is for services of an insider or attorney of the debtor, such claim exceeds the reasonable value of such services; (5) such claim is for a debt that is unmatured on the date of the filing of the pe- tition and that is excepted from discharge under section 523(a)(5) of this title; (6) if such claim is the claim of a lessor for damages resulting from the termination of a lease of real property, such claim exceeds— (A) the rent reserved by such lease, with- out acceleration, for the greater of one year, or 15 percent, not to exceed three years, of the remaining term of such lease, following the earlier of— (i) the date of the filing of the petition; and (ii) the date on which such lessor repos- sessed, or the lessee surrendered, the leased property; plus (B) any unpaid rent due under such lease, without acceleration, on the earlier of such dates; (7) if such claim is the claim of an employee for damages resulting from the termination of an employment contract, such claim exceeds— (A) the compensation provided by such contract, without acceleration, for one year following the earlier of— (i) the date of the filing of the petition; or (ii) the date on which the employer di- rected the employee to terminate, or such employee terminated, performance under such contract; plus (B) any unpaid compensation due under such contract, without acceleration, on the earlier of such dates; (8) such claim results from a reduction, due to late payment, in the amount of an other- wise applicable credit available to the debtor in connection with an employment tax on wages, salaries, or commissions earned from the debtor; or (9) proof of such claim is not timely filed, ex- cept to the extent tardily filed as permitted under paragraph (1), (2), or (3) of section 726(a) or under the Federal Rules of Bankruptcy Pro- cedure, except that— (A) a claim of a governmental unit shall be timely filed if it is filed before 180 days after the date of the order for relief or such later time as the Federal Rules of Bankruptcy Procedure may provide; and (B) in a case under chapter 13, a claim of a governmental unit for a tax with respect to a return filed under section 1308 shall be timely if the claim is filed on or before the date that is 60 days after the date on which such return was filed as required. (c) There shall be estimated for purpose of al- lowance under this section— (1) any contingent or unliquidated claim, the fixing or liquidation of which, as the case may be, would unduly delay the administration of the case; or (2) any right to payment arising from a right to an equitable remedy for breach of perform- ance. (d) Notwithstanding subsections (a) and (b) of this section, the court shall disallow any claim of any entity from which property is recoverable under section 542, 543, 550, or 553 of this title or that is a transferee of a transfer avoidable under section 522(f), 522(h), 544, 545, 547, 548, 549, or 724(a) of this title, unless such entity or trans- feree has paid the amount, or turned over any such property, for which such entity or trans- feree is liable under section 522(i), 542, 543, 550, or 553 of this title. (e)(1) Notwithstanding subsections (a), (b), and (c) of this section and paragraph (2) of this sub- section, the court shall disallow any claim for reimbursement or contribution of an entity that is liable with the debtor on or has secured the claim of a creditor, to the extent that— (A) such creditor’s claim against the estate is disallowed; (B) such claim for reimbursement or con- tribution is contingent as of the time of allow-