On April 1, 2022, adjustments to the dollar amounts stated in various provisions of the Bankruptcy Code and one provision of Title 28 of the United States Code will go into effect for cases filed on or after that date. The adjustments’ timing and calculation are codified in 11 U.S.C. § 104. The adjusted dollar amounts will affect, among other matters:

• the eligibility to file a case under chapters 12 and 13 of the Bankruptcy Code;
• the definition of a small business debtor;
• the maximum values of certain property that a debtor may claim as exempt;
• the maximum amounts of certain claims entitled to priority;
• the calculation of the “means test” for chapter 7 debtors;
• the duration of certain chapter 13 plans;

• the minimum aggregate value of claims needed to commence an involuntary bankruptcy case;

• the minimum value for certain preference actions;
• the value of consumer debts for luxury goods and services presumed to be nondischargeable; and
• where the trustee may commence certain proceedings.

A chart showing the affected sections of the Bankruptcy Code and Title 28, with adjusted dollar amounts in those sections, is attached. On February 4, 2022, the adjusted dollar amounts were published in volume 87, number 24 of the Federal Register at pages 6625-6626. The adjustments reflect the change in the Consumer Price Index for All Urban Consumers published by the U.S. Department of Labor for the three-year period ending immediately before January 1, 2022, and they are rounded to the nearest $25.

Seven Official Bankruptcy Forms and two Director’s Forms contain references to several of the affected dollar amounts.  The revised forms will be effective on April 1, 2022, and they will apply to cases filed on or after that date. The revised forms incorporating the dollar amount adjustments have been posted to the Pending Changes in the Bankruptcy Forms page of the uscourts.gov website. Once effective, the revised forms will be available on the Bankruptcy Forms page.