{"data":{"id":"us/30-cfr-553.23","jurisdiction":"us","citation":"30 CFR 553.23","heading":"What information must I submit to support my net worth demonstration?","body":"You must support your net worth evaluation with information contained in your previous fiscal year's audited annual financial statement.\n(a) Audited annual financial statements must be in the form of:\n(1) An annual report, prepared in accordance with the generally accepted accounting practices (GAAP) of the United States or other international accounting practices determined to be equivalent by BOEM; or\n(2) A Form 10-K or Form 20-F, prepared in accordance with Securities and Exchange Commission regulations.\n(b) Audited annual financial statements must be submitted together with a letter signed by your treasurer highlighting:\n(1) The State or the country of incorporation;\n(2) The total amount of the stockholders' equity as shown on the balance sheet;\n(3) The net amount of the plant, property, and equipment shown on the balance sheet; and\n(4) The net amount of the identifiable U.S. assets and the identifiable total assets in the auditor's notes to the financial statement (i.e., a geographic segmented business note).","path":["Title 30—Mineral Resources","CHAPTER V—BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR","SUBCHAPTER B—OFFSHORE","PART 553—OIL SPILL FINANCIAL RESPONSIBILITY FOR OFFSHORE FACILITIES","Subpart C—Methods for Demonstrating OSFR"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-30.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:24Z","sha256":"b81ee4bbaf70726c63ef25453ddc2032927d58fd775139925bc86e4155a3b594","source_id":"us-cfr","stale":true,"prev":"us/30-cfr-553.22","next":"us/30-cfr-553.24"},"notice":"GroundRules: Original legal text. Not legal advice."}