Ice Fishing Equipment List:
First needs:
Safety equipment: Cleats for boots, Whistle, Hand spike, Cell phone
Water-proof fishing gloves
Fingernail Clippers for cutting line
Needle Nose Pliers: Hook removal
Slush dipper: Removes ice from the hole
Flashlight for night fishing
5 or 6" Hand auger
5 gallon pail and cushion: Doubles as a seat and fish hauler
Two rods rigged with 2-4lb test. Small pocket tackle box, ice fishing jigs.
Wax worms (keep on counter at home and in pocket, cold will kill them)
Tape Measure
Food, snacks
Hot chocolate or coffee in thermos
Plastic shopping bag: For garbage or fish
Propane lantern (also serves as heater)
Dry towel
Plastic sled to pull your gear
Extra clothes and blanket in the car: You never know

Secondary: (optional)
Electronic Fish locator: Vexilar  (Best item you will ever buy!)
Underwater Camera
GPS or Compass
1 million candle power light: Very nice at night
Gas Auger
Additional propane heater
Hand or foot warmer packets
Portable Ice Shelter
Radio for entertainment
Gaff hook
Extra propane tank
ATV or snowmobile
Small propane grill or burner (cheddar brats!)
Digital camera
Folding bag chair (much better than a bucket for extended periods)