New York mandates comprehensive financial disclosure in every divorce case involving maintenance, child support, or equitable distribution. Under N.Y. Dom. Rel. Law § 236(B)(4), both spouses must submit a sworn Statement of Net Worth within 20 days of receiving a written demand, or within 10 days after joinder of issue if no demand is made. The filing fee totals $335, combining the $210 Index Number fee and $125 Request for Judicial Intervention fee. New York courts treat complete financial disclosure as a non-negotiable requirement, and noncompliance triggers penalties under CPLR § 3126, including case dismissal, preclusion of evidence, or contempt findings.
Key Facts: Financial Disclosure in New York Divorce
| Requirement | Details |
|---|---|
| Filing Fee | $335 total ($210 Index Number + $125 RJI) |
| Waiting Period | No mandatory waiting period after filing |
| Residency Requirement | 1-2 years depending on connection to NY |
| Grounds | No-fault (irretrievable breakdown 6+ months) |
| Property Division | Equitable distribution (not 50/50) |
| Primary Disclosure Form | Statement of Net Worth (sworn affidavit) |
| Disclosure Deadline | 20 days from written demand |
| Income Cap for Maintenance | $241,000 (as of March 1, 2026) |
| Child Support Income Cap | $193,000 combined (as of March 1, 2026) |
What Is Financial Disclosure in New York Divorce
Financial disclosure in New York divorce is the mandatory exchange of complete financial information between spouses, required by N.Y. Dom. Rel. Law § 236(B)(4) in all cases involving maintenance, child support, or property division. No showing of special circumstances is required before the court orders disclosure. Both parties must reveal all income, assets, expenses, and liabilities regardless of whether property is claimed as separate or marital. The rationale is straightforward: courts must determine the marital versus separate character of property, and full disclosure enables each party to verify any separate property claims.
The cornerstone of financial disclosure is the Statement of Net Worth, a sworn affidavit that spans more than 12 pages and requires detailed information across 8 major categories. This document must be signed before a notary public and certified by your attorney if you have one. False statements, omissions, or inaccuracies constitute perjury under New York law, carrying penalties ranging from misdemeanor charges with up to 1 year in jail and $1,000 fines (third-degree perjury) to felony charges with up to 7 years in prison (first-degree perjury).
Effective December 1, 2025, New York courts implemented a revised Statement of Net Worth form pursuant to 22 NYCRR 202.16(b). Additional revisions took effect March 1, 2026, adjusting the Child Support Standards Act income cap from $183,000 to $193,000 and the Maintenance Guidelines Act payor income cap from $228,000 to $241,000, reflecting Consumer Price Index increases.
The Statement of Net Worth: New York's Primary Disclosure Document
The Statement of Net Worth is the most important document you will complete in your New York divorce. This sworn financial affidavit requires disclosure across 8 comprehensive sections totaling over 12 pages of detailed financial information. Courts use this document to calculate child support, determine maintenance awards, and divide marital property equitably. Accuracy is essential because you sign under penalty of perjury.
Section 1: Family Data
The family data section captures biographical information including full legal names, Social Security numbers, dates of birth, education levels, current employers, occupations, and health status. You must list the date and location of your marriage, the date of separation (if applicable), and the names and birth dates of all children from the marriage. This section establishes jurisdiction and identifies dependents for support calculations.
Section 2: Expenses
The expense section requires an exhaustive itemization of monthly household costs across categories including housing (mortgage or rent, property taxes, homeowners insurance, maintenance), utilities (electric, gas, water, telephone, internet), food and household supplies, clothing, medical expenses not covered by insurance, automobile costs (payments, insurance, gas, maintenance), educational expenses, recreational activities, religious contributions, and miscellaneous items such as haircuts, toiletries, and subscriptions.
To complete this section accurately, review 3-4 months of bills and bank statements, then calculate monthly averages. Courts reject estimated or fabricated figures. Total monthly expenses directly impact maintenance calculations, as New York courts consider each party's reasonable needs when setting support awards.
Section 3: Income
The income section captures all sources of revenue including W-2 wages, self-employment income, bonuses, commissions, investment income, rental income, Social Security benefits, disability payments, and veterans benefits. W-2 employees can rely on their annual tax forms, but business owners, partners, and self-employed individuals face more complex calculations requiring professional guidance.
New York uses gross income for child support calculations under the Child Support Standards Act. As of March 1, 2026, the combined parental income cap is $193,000, above which courts have discretion in calculating support. For maintenance, the payor's income cap is $241,000 under the current Maintenance Guidelines Act.
Section 4: Assets
The assets section requires comprehensive disclosure of everything you own, including cash and bank accounts (checking, savings, money market), investment accounts (stocks, bonds, mutual funds), retirement accounts (401(k), IRA, pension), real estate, vehicles, jewelry, artwork, collectibles, business interests, and any other property of value. Include account numbers, current balances, and dates of valuation.
Critically, you must list assets held in your spouse's name or jointly if you believe they are marital property. New York follows equitable distribution, meaning courts divide marital property fairly though not necessarily equally. Separate property (owned before marriage, inherited, or received as gifts) is not subject to division but must still be disclosed so courts can verify classification.
Section 5: Liabilities
The liabilities section itemizes all debts including mortgages, home equity loans, auto loans, student loans, credit card balances, personal loans, and any amounts owed to family members. For each debt, provide the creditor's name, current balance, monthly payment amount, and whose name appears on the obligation.
Marital debts are subject to equitable distribution just like assets. Courts consider which spouse incurred the debt, whether it benefited the marriage, and each party's ability to pay when allocating responsibility.
Section 6: Assets Transferred
This section requires disclosure of any assets transferred, sold, given away, or disposed of within the last 3 years or during the marriage, whichever period is shorter. Provide the date of transfer, asset description, value at transfer, and recipient's identity.
This provision exists to identify potential dissipation of marital assets. If a spouse transferred assets in anticipation of divorce to reduce the marital estate, courts can account for those transfers when dividing property.
Section 7: Support Requests
Indicate whether you currently receive or are requesting maintenance (spousal support) or child support. State the amounts received or requested. Complete this section with attorney guidance to ensure your request aligns with statutory guidelines and reflects your documented expenses and income.
Section 8: Legal and Expert Fees
The final section details attorney fees and expert fees paid to date. Your retainer agreement must be annexed to the Statement of Net Worth. This section helps courts evaluate requests for counsel fee awards, which New York permits under DRL § 237 to level the playing field between spouses with disparate resources.
Timeline for Financial Disclosure in New York Divorce
New York imposes strict deadlines for financial disclosure to ensure divorce proceedings move efficiently toward resolution. Missing these deadlines can result in sanctions, preclusion of evidence, or adverse inferences at trial.
Disclosure Deadlines
| Event | Deadline |
|---|---|
| Statement of Net Worth after written demand | 20 days from receipt |
| Statement of Net Worth without demand | 10 days after joinder of issue |
| Exchange before Preliminary Conference | No later than 10 days prior |
| All discovery completion | Within 6 months of conference |
| Interrogatory limits | 25 questions including subparts |
| Deposition limits | 7 hours maximum |
The Preliminary Conference is a critical milestone in New York divorce cases. Under 22 NYCRR 202.16(f), the court uses this conference to establish a discovery timetable and address compliance with compulsory financial disclosure. Both parties must exchange Statements of Net Worth no later than 10 days before this conference. The court may require supplemental statements showing material changes to previously exchanged information.
All discovery procedures must be completed and the Note of Issue filed within 6 months of the Preliminary Conference unless the court shortens or extends this period based on case complexity.
Automatic Orders and Asset Protection
Upon commencement of a divorce action in New York, automatic restraining orders take immediate effect under DRL § 236(B)(2)(b) and 22 NYCRR 202.16-a. These orders bind the plaintiff upon filing and the defendant upon service. They remain in effect until entry of the Judgment of Divorce or until modified by court order or written agreement.
Automatic Orders Prohibit Both Parties From:
- Selling, transferring, encumbering, concealing, or disposing of marital property without written consent or court approval
- Removing children from New York without consent or court order
- Canceling, modifying, or allowing to lapse any existing insurance policies (life, health, automobile, homeowners)
- Incurring unreasonable debts, including excessive credit card charges or cash advances
- Changing beneficiaries on life insurance, retirement accounts, or other assets
2025 Amendment: Tax and Litigation Notices
Effective 2025, 22 NYCRR 202.16-a was amended to require any party who receives notice of a tax lien, foreclosure, bankruptcy filing, litigation, or lifting of a bankruptcy stay that could adversely affect the marital estate to provide notice to the other party within 10 days of receipt.
Exceptions to Automatic Orders
Spouses may spend money on customary and usual household expenses, reasonable attorney fees, and normal business operations. However, any extraordinary expenditure or asset disposition requires written agreement between the parties or prior court approval.
What Documents Must Be Disclosed in New York Divorce
Beyond the Statement of Net Worth, New York divorce cases typically require production of extensive supporting documentation. While specific discovery requests vary by case, standard disclosure includes:
Income Documentation
- Federal and state income tax returns (3-5 years)
- W-2 forms and 1099 statements
- Pay stubs (6-12 months)
- Business financial statements (if self-employed)
- K-1 partnership statements
- Social Security benefit statements
- Pension and retirement account statements
Asset Documentation
- Bank statements for all accounts (12-24 months)
- Investment account statements
- Real estate deeds and mortgage documents
- Vehicle titles and loan statements
- Retirement account statements (401(k), IRA, pension)
- Life insurance policies with cash values
- Business ownership documents and valuations
Expense Documentation
- Mortgage or lease agreements
- Utility bills (3-4 months for averaging)
- Credit card statements (12 months)
- Medical bills and insurance explanation of benefits
- Child-related expenses (tuition, activities, childcare)
Liability Documentation
- Credit card statements showing balances
- Loan agreements and amortization schedules
- Student loan statements
- Tax lien or judgment documentation
Penalties for Failing to Disclose Assets in New York Divorce
New York courts take financial disclosure violations seriously. Under DRL § 236(B)(4), noncompliance is punishable by any or all penalties prescribed in CPLR § 3126.
Court Sanctions Under CPLR 3126
- Preclusion orders preventing use of undisclosed evidence at trial
- Striking of pleadings
- Dismissal of claims or defenses
- Default judgment against the non-complying party
- Adverse inference instructions to the jury or judge
- Award of attorney fees to the opposing party
Criminal Penalties for Perjury
Because the Statement of Net Worth is a sworn document, false statements constitute perjury under New York Penal Law:
| Perjury Degree | Classification | Potential Sentence |
|---|---|---|
| Third Degree | Class A Misdemeanor | Up to 1 year jail, $1,000 fine |
| Second Degree | Class E Felony | Up to 4 years prison |
| First Degree | Class D Felony | 1-7 years prison |
The severity of charges depends on the value of hidden assets and degree of deception. Courts also consider contempt of court charges under Judiciary Law § 753 and DRL § 245 for willful violation of court orders.
Forensic Accountant Investigation
When asset concealment is suspected, courts may permit forensic accountant examination. These expert witnesses use financial auditing techniques to trace hidden assets, identify unreported income, and expose fraudulent transfers. Their testimony carries significant weight in court proceedings.
How Equitable Distribution Uses Financial Disclosure
New York follows equitable distribution under DRL § 236(B)(5), meaning courts divide marital property fairly based on multiple statutory factors rather than using a strict 50/50 split. Complete financial disclosure is essential because courts must evaluate:
Statutory Factors for Property Division
- Income and property of each party at marriage and at divorce
- Duration of the marriage
- Age and health of both parties
- Need for custodial parent to occupy marital residence
- Loss of inheritance or pension rights
- Award of maintenance (if any)
- Direct or indirect contributions to marital property
- Liquid or non-liquid character of marital property
- Future financial circumstances of each party
- Difficulty of valuing business interests
- Tax consequences of proposed distribution
- Wasteful dissipation of assets
- Transfer of assets in contemplation of divorce
- Any other factor the court finds just and proper
Valuation Date for Assets
Under DRL § 236(B)(4)(b), the court sets valuation dates for each asset as soon as practicable after the action commences. Valuation may occur anytime from filing date to trial date. Common approaches include date of commencement, date of separation, or date of trial depending on asset type and circumstances.
Special Considerations for High-Net-Worth Divorces
Divorces involving substantial assets require enhanced financial disclosure procedures. New York courts routinely appoint neutral experts, extend discovery periods, and scrutinize complex holdings.
Business Valuation Requirements
Closely held businesses, professional practices, and partnership interests present valuation challenges. Courts typically order formal business valuations by certified professionals. The valuing expert examines financial statements, tax returns, industry comparables, and intangible assets like goodwill.
Stock Options and Deferred Compensation
Unvested stock options, restricted stock units, and deferred compensation plans require disclosure even if their value is contingent. Courts apply various formulas to determine marital versus separate portions based on grant dates relative to marriage duration.
Trust Interests and Inheritance
Beneficial interests in trusts must be disclosed, including distributions received during marriage. While separate property inheritance is not subject to division, any commingling with marital funds or appreciation during marriage may create marital components.