Mitt and Ann Romney failed to list an unknown amount of investment income from a variety of sources, including a Swiss bank account, on financial disclosure forms filed last year, the presidential hopeful's campaign announced Thursday as it worked to correct the omissions.
Also missing is income from at least 20 different investment funds in the Romneys' blind trusts that are either not listed on his disclosure or contradict information listed on the former Massachusetts governor's 2010 tax return. At least one of the 20 is an investment fund held by Ann Romney carries an "offshore" label. It's part of a fund operated by Bain Capital, the private equity firm Romney ran for 15 years.
A campaign spokeswoman offered no explanation for the omission. She said Thursday the adjustments would be "trivial" and would not alter the overall picture of the Romney's finances. The former Massachusetts governor has estimated his wealth at as much as $250 million.
The Swiss account was held in Ann Romney's blind trust. The tax returns show the Romneys made $1,783 in interest income from that account in 2010.Former House Speaker Newt Gingrich also failed to report income from his 2010 tax return on his financial disclosure. Gingrich will amend his disclosure to show $252,500 in salary from one of his businesses, spokesman R.C. Hammond said Thursday.
Romney's campaign said it was updating 2011 financial disclosure forms after the Romneys' 2010 tax return, released this week after intense pressure from his rivals, showed income from the Swiss account. Romney reported earning nearly $22 million that year, mainly from investments, and paid about $3 million in federal taxes.
Gingrich had hammered Romney to release his tax returns while Republican voters were still choosing a nominee. Romney initially said he would release them in April, during tax filing season, but then gave in to demands that he make the tax returns public sooner.
Romney's missing income, first reported by the Los Angeles Times, could become a campaign issue as Gingrich looks to criticize Romney ahead of Florida's Jan. 31 primary.
Gingrich on Thursday called Romney's campaign desperate in the wake of attacks from the former Massachusetts governor and his supporters over Gingrich's fees for consulting for the quasi-government mortgage giant Freddie Mac.