What do Trucking Companies need to renew at the end of each year?
The last quarter of the year means its time to start looking at getting your renewals scheduled. It’s a busy time of year what with holidays and many people scheduling time off to celebrate, so it can be easy to miss one of the many renewals that are necessary to keep your fleet on the move.
This year is probably more chaotic than most given that so many extensions were given due to offices shutting down and revamping operations to accommodate the new Covid-19 safety measures.
So, we thought we would try and help and compile a list of common year end renewals for trucking operations to help you keep on track.
Yearly Renewals for Trucking Companies
International Registration Plan (IRP)
While this is not normally on a year end list (as it expires annually on your own date), we thought it prudent to add to this year’s list for 2020. As many jurisdictions have delayed the renewal process of IRP due to Covid-19 this may have been put on the back burner for your business. Some jurisdictions, such as Ontario, are now processing IRPs. So, if your IRP expired in the last few months, now might a good time to get the process going as you start to handle the rest of your yearly renewals.
International Fuel Tax Agreement (IFTA)
Your IFTA license and decal expires on December 31. Carriers who are compliant with IFTA must obtain a new IFTA Carrier License and a decal for each applicable vehicle each year. Carriers do have until March 1, to display their new credentials. Carriers who owe or have not filed previous years returns will not be able to renew their license or obtain decals until their account has been cleared up.
Unified Carrier Registration (UCR)
Motor carrier, motor private carrier, freight forwarder, broker and leasing companies operating interstate or internationally in the US must obtain an annual UCR registration. The fee is based on the number of motor vehicles for carriers. UCR fess have been set for 2021- they are the same as 2020. Registration opened as of Oct 1st, so don’t delay crossing this one off of your list.
New Mexico Tax ID
The state requires qualified motor vehicles to register with the state annually. Carriers and trucks without this registration must obtain a single trip permit every time they enter the state. Registration expires December 31.
U.S. Customs Decals
U.S. Customs Decals can be purchased annually or for single trips. If you do U.S. Customs Decals are good through to December 31 and needs to be renewed for each year. If you plan to make more than 30 crossings in a year, your best bet is to pay for the annual pass. As well, the pass is not pro rated should you choose to buy halfway through the year.
Tips to make sure you don’t miss and of your trucking renewals
Get help for handling trucking renewals
This is where having a trucking compliance company to help you out comes in handy. As a business, a good compliance company will make sure that your paperwork gets completed on time. This means sending reminders to send paperwork in for processing and making sure nothing gets missed to prevent documents being accepted by the appropriate governing body.
Another bonus of hiring a trucking compliance company to assist with your paperwork is that you now have an extra set of eyes to spot anomalies and inconsistencies. This can save you time (you don’t have to do it), and money (fines, or out of service time loss) if something gets missed, or erroneously entered.
Make a spreadsheet and calendar alerts
This is a simple method to keep track. Set up your calendar with alerts to when your various authorities and permits are coming due. Then set up a spreadsheet that allows you to highlight when each one is handled. You can even set this up in a shared drive such as Google Docs if you happen to have more than one person handling your renewals. Then highlight each one as they are accomplished. At the end of the year everything should be highlighted so you know you haven’t missed a date.
If your current system looks like this, it might be time to change your system! A little organization can go a long way.
However you choose to handle your trucking year end renewals, we hope that you have a successful time of it and a great last quarter of the year.
If you are interested in finding out how a trucking compliance company such as PSTC could help you this year, click on the button for a free quote on how we can help you keep on top of all your operating authority and permit renewals.