How to list data and records in the intangibles section of Schedule A/B

Where do data and records go on Schedule A/B?

Operational records and databases belong in the intangibles and intellectual property part of Official Form 206A/B, the asset schedule for non-individual debtors (Part 10 on current versions of the form; confirm you are using the edition your court requires). That part has separate lines for patents, copyrights, trademarks and trade secrets; internet domain names and websites; licenses, franchises and royalties; customer lists, mailing lists or other compilations; other intangibles or intellectual property; and goodwill. It also asks whether the debtor's lists or records include personally identifiable information of customers.

A CRM database usually fits customer lists or other compilations. Email archives, ticket histories, file shares and engineering repositories usually fit other intangibles. The schedules are signed under penalty of perjury and read closely by the US Trustee, committees, lenders and bidders, so a clear entry is also how a trustee or committee spots a records asset worth a second look.

What to gather before drafting

• A system list. Every platform the company used, the year its records start, where it is hosted and who administers it. The data inventory builder is a convenient way to structure the list.
• Ownership facts. Documents employees create within the scope of their jobs are generally works made for hire owned by the employer, while material from contractors may not be unless the parties agreed in a signed writing (Copyright Office Circular 30).
• Privacy history. Every privacy policy and terms-of-service version in effect while customer data was collected.
• Client contracts. Any data-ownership or confidentiality clauses that limit what the debtor can do with records it created for clients.
• The lien search. Who claims a security interest in general intangibles.

Questions for the CFO and IT lead before filing

Management knows the systems; counsel knows the form. A short call with both closes the gap before the schedules are due.

1. Which systems hold records older than five years, and are any of them switched off but still recoverable?
2. Which subscriptions are paid on corporate cards rather than through accounts payable?
3. Did the company ever promise customers it would not share or sell their data, and when did that wording change?
4. Which records were created for clients under contracts that give the client ownership?
5. Who could run a full export today if the case needed one?

How to list the records, step by step

1. Group systems by record type. Treat the CRM and marketing database as one compilation; list email, chat, file storage, ticketing and engineering history as separate other-intangibles entries if each has a meaningful date range.
2. Separate what the debtor owns from what it holds for others. Data processed for clients, or a franchisor's copies of franchisee operating data, should be described as held for others rather than claimed as estate property; the franchisor bankruptcy brief shows where that line usually falls.
3. Write a factual description. Name the system type, the record type, the date range, an approximate volume and the current custodian. Leave out customer names, record samples and anything confidential.
4. State value carefully. Internally generated records usually carry no book value. If nobody has appraised them, list current value as unknown and explain why, rather than inserting a speculative figure for AI licensing.
5. Answer the personal information question accurately. If the answer is yes, flag it to counsel now: a later sale or lease of that information can require a consumer privacy ombudsman, whom the court directs the US Trustee to appoint no later than 7 days before the hearing (11 U.S.C. 332).
6. Cross-check the other filings. Match the descriptions with the statement of financial affairs, which has its own questions about books and records, and with what management told the US Trustee at the initial debtor interview.
7. Amend when new systems surface. Archived platforms and card-paid subscriptions often turn up after filing; add them rather than leave the schedule stale.

Privacy scrutiny of data assets is not hypothetical. In 23andMe's 2025 bankruptcy, the consumer privacy ombudsman recommended barring any transfer of customers' genetic or personally identifiable data without renewed opt-in consent (The Record). Most operating businesses hold far less sensitive data, but the schedule entry is where that review begins.

Illustrative entries

Illustrative: a fictional 180-person freight software company filing under chapter 11.

The entries tell a reader what exists and for how long without disclosing a single customer or employee.

Common mistakes and how to fix them

How trustees and committees use the entries

A clear schedule tells a trustee or committee three things: whether the company kept long, connected records, whether the debtor owns them, and whether privacy limits apply. Set against SourceX's baseline, which looks for a US company with 50+ full-time employees at peak (contractors excluded), several years of documented operations, licensing rights and an authorized representative, that is usually enough to decide whether a license review is worth a call.

Sale teams can carry the same descriptions into the 363 sale due diligence checklist and the records inventory folder in the sale data room. For a dissolved corporation that later finds records it never scheduled, the comparison of Delaware sections 280 and 281(b) explains how leftover assets are handled.

This is general information, not legal, tax or financial advice. Form versions, local practice and valuation conventions change; confirm each entry with debtor's counsel and the US Trustee's guidance for your district.

Next step

Draft the record lines from the system list well before the schedules deadline, then compare the debtor with who qualifies for a SourceX license. Counsel who expect to refer a debtor or a post-sale estate can register as a partner and log the introduction there.