(b) Reporting requirements.
(1) Use of the NASA Contractor Financial Management Reports, the NASA form 533 series, is required on cost-type, price redetermination, and fixed-price incentive contracts when the following dollar, period of performance, and scope criteria are met:
|Contract value/scope||Period of performance||533M||533Q|
|$500K to $999K||1 year or more||Required||Optional.|
|$1,000,000 and over||Less than 1 year||Required||Optional.|
|$1,000,000 and over||1 year or more||Required||Required.|
(2) When it is probable that a contract will ultimately meet the criteria in paragraph (b)(1) of this section through change orders, supplemental agreements, etc., the reporting requirement must be implemented in the contract based on the estimated final contract value at the time of award.