(1) Except as provided in (2), independent, incidental, ballot issue, and political party committees that are not required to file semiannual reports in March and September shall file a year-end closing report pursuant to 13-37-226, MCA. The closing date of books for the report is December 31 and the report shall be filed with the commissioner no later than January 31.

(a) The report shall cover all contributions received and expenditures made since the closing date of books for the most recently filed report.

(b) The closing date of books for the report shall mark the cutoff date for the purpose of computing aggregate contributions and expenditures, and future reports shall use that date as a beginning point for the purpose of aggregation.

(2) No committee shall be required to file the report required by (1) if the committee was required to file a post-election report pursuant to 13-37-226, MCA, during the second half of a calendar year and no further contributions have been received or expenditures have been made by it between the closing date of books for the post-election report and December 31. The post-election report shall be considered as its closing report and the closing date of books for that report shall be used as the cutoff date for the purpose of aggregating contributions and expenditures for future reports. 

(3) A committee that will not participate in future elections and that wishes to end its status as a committee may file a statement of termination with its closing report. Any further activity by a terminated committee will require a new statement of organization.

(4) A committee may file its closing report at any time prior to the date prescribed by statute once it has finished making contributions and expenditures during an election cycle.