🗄️Agency's Record Preservation Requirement for Air Carriers
Agency Information Collection; Activity Under OMB Review; Part 249 Preservation of Records
Summary
In compliance with the Paperwork Reduction Act of 1995, Public Law 104-13, the Bureau of Transportation Statistics invites the general public, industry and other governmental parties to comment on the continuing need for and usefulness of BTS requiring certificated air carriers to preserve accounting records, consumer complaint letters, reservation reports and records, system reports of aircraft movements, etc. Also, public charter operators and overseas military personnel charter operators are required to retain certain contracts, invoices, receipts, bank records and reservation records.
Agencies
- Transportation Department
- Transportation Statistics Bureau
Business Impact
$$ - Med
The text outlines compliance and regulatory requirements for air carriers and charter operators regarding record preservation. This impacts how businesses manage and retain accounting records, which is crucial for audits and data verification. Non-compliance could lead to penalties or issues with auditing processes.