Whether you have a reportable Section 1071 application can generally be determined by the following equation:
Non-Consumer Credit*
+ Small Business Applicant Gross Annual Revenue ≤ $1 Million
+ 1071 Covered Application*
= Reportable 1071 Application
Close attention must be paid to the asterisks here as several exclusions could apply. For example, agricultural loans and HMDA-reportable transactions are not 1071-reportable.
Published 2026/10/09