State law requires candidates, political committees and, in some cases, individuals to keep full and accurate records of financial transactions and to file periodic disclosure reports. Since fundraising record keeping is so closely governed by state law, there are some rules you should keep in mind.
While there is generally no requirement for a political committee to close, as long as a committee remains open it has a continuing duty to file disclosure reports as they come due, including quarterly reports, Schedule A-1 or Schedule B-1s (when applicable) and amendments to any of these reports or its Statement of Organization (Form D-1).