🚛Financial Responsibility Requirements for Motor Carriers and Brokers
Agency Information Collection Activities; Revision of an Approved Information Collection Request: Financial Responsibility Motor Carriers, Freight Forwarders, and Brokers
Summary
In accordance with the Paperwork Reduction Act of 1995, FMCSA announces its plan to submit the Information Collection Request (ICR) described below to the Office of Management and Budget (OMB) for review and approval. FMCSA requests approval to renew an ICR titled, "Financial Responsibility Motor Carriers, Freight Forwarders, and Brokers." The purpose of this ICR is to provide registered motor carriers, property brokers, and freight forwarders a means of meeting financial responsibility filing requirements. This ICR sets forth the financial responsibility documentation requirements for motor carriers, freight forwarders, and brokers as a result of Agency jurisdictional statutes. On January 6, 2025, FMCSA published a 60-day notice in the Federal Register announcing its intention to submit this ICR to OMB for renewal. FMCSA received two comments in response to the published notice.
Agencies
- Transportation Department
- Federal Motor Carrier Safety Administration
Business Impact
$$$ - High
This notice announces regulatory requirements for motor carriers, freight forwarders, and brokers to meet financial responsibility through filings. This impacts business operations, compliance costs, and administrative burden regarding insurance and bonds, specifically affecting 200,147 respondents.