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4-998 NMRA, the Conservator’s Report

New Mexico’s yearly report and account for a conservator. The court sends every one to the State Auditor.

By Fidura staff. Last reviewed .

Who files
Every conservator
A guardian reports separately, on Form 4-996.
When it’s due
Within 30 days of each anniversary of your appointment
NMSA §45-5-409(A) (opens in a new tab)
Where
The district court that appointed you
Copies go to the protected person, any guardian, and anyone the court named.
The form
Form 4-998
The court’s copy (PDF) (opens in a new tab)

The statute and this form say within 30 days of the anniversary. The inventory form says 30 days after it. Form 4-997, instruction 2(a) (opens in a new tab)

What you need

Have the inventory or last year’s report, and the year’s bank and investment statements. Line A is last year’s line F, or the inventory’s net asset value on a first report.

The summary, income and expenses each go in three columns: this period, last year and two years ago. The last two come from the reports you already filed. Assets and debts are only as of the last day.

The example follows Anselmo Trujillo, an invented ward whose conservator was appointed 06/02/2025. This first report covers 06/02/2025 to 06/01/2026 and is due by 07/02/2026. A first report leaves the two earlier columns blank.

Line F must equal assets less debts

The summary walks net worth. Start from last year’s net value, add income, take off expenses, and adjust for assets and debts that changed without cash. Line F must match what Sections IV and V list on the last day.

Anselmo Trujillo, invented ward · financial summary, current column
A. Net asset value of the beginning inventory$220,722.36
B. Plus income (Section II)27,312.44
C. Less expenses (Section III)26,360.70
D. Plus additions or minus deletions to inventory0.00
E. Minus additions or plus deletions to debt1,240.00
F. Net asset value$222,914.10
Assets (Section IV)222,914.10
Less debts (Section V)0.00
Net asset value (line F)$222,914.10

Where the figures came from

Section II, income
Social Security, $1,580.00 × 12$18,960.00
Pension, $620.00 × 127,440.00
Interest income212.44
Realized gain on sale of asset700.00
Section II total$27,312.44
Section III, expenses
In-home care, $1,200.00 × 1214,400.00
Utilities2,316.58
Food, groceries, dining, $260.00 × 123,120.00
Property tax1,487.22
Homeowner’s insurance1,104.00
Medications642.90
Credit card payments1,240.00
Fees paid to conservator, $150.00 × 121,800.00
Conservator’s bond250.00
Section III total$26,360.70
Section IV, assets on the last day
Checking15,651.66
Savings21,262.44
Home, market value (method: tax assessment)186,000.00
Section IV total$222,914.10

The sale

The inventory listed Anselmo’s 2014 pickup at $6,500.00. His conservator sold it for $7,200.00. Only the $700.00 difference from the inventory’s value goes in Section II, on the realized gain or loss line. The rest of the price is the truck’s value turned into cash. An item that was never inventoried goes on its own line at the full price.

The form does not say how a sale touches line D. Here line D stays at 0.00. Counting the truck there as well would leave line F $6,500.00 short of Section IV.

The paid-off card

The inventory listed a $1,240.00 credit card balance. Paying it off is an expense in Section III. The debt it removed goes on line E as a deletion to debt, added back. Section V is then empty. Leave line E blank and line F falls short by the amount paid.

After you file

The court forwards the report to the State Auditor within five business days. Within 15 business days the Auditor declines an audit, accepts one, or asks a professional conservator for more. An audit report follows within 90 days. §45-5-409(H) (opens in a new tab)

If VA benefits are part of the estate, the VA office is entitled to a copy. §45-5-409(F) (opens in a new tab)

The final report

When the protected person dies, you resign or are removed, or the conservatorship ends, file a final report on this same form, with the death certificate if there is one. The form says within 60 days of your resignation, removal or termination.

If the protected person dies, hold the estate for the personal representative. If none is appointed or applied for within 40 days, you may ask the court for a personal representative’s powers. NMSA §45-5-425(E) (opens in a new tab)

Common mistakes

Empty comparison columns

From the second report on, fill the last-year and two-years-ago columns. Copy them from the reports you filed.

No notice of bonding

Unless the court waived bond, file Form 4-995 with each report, with the surety’s Form 4-995.1 attached. Rule 1-140(C) NMRA (opens in a new tab)

A professional conservator without the bank statements

If you serve more than two people you are not related to, you are a professional conservator. File the institutions’ unredacted statements at the same time as every report, under a Form 4-998.1 (opens in a new tab) cover sheet. They are sealed, and only the State Auditor sees them without an order. Rule 1-145(E) NMRA (opens in a new tab)

The court cannot waive this report, but it can grant more time. A late report can draw a fine of $25.00 a day. §45-5-409(C), (D) (opens in a new tab)

Sources

Also for New Mexico: 4-997 NMRA, Conservator’s Inventory

We make Fidura, guardianship accounting software built on a reconciled register for each ward. See the product

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