🚛FMCSA Announces Financial Responsibility Requirements for Carriers
Agency Information Collection Activities; Revision of an Approved Information Collection: 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 its review and approval and invites public comment. 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.
Agencies
- Transportation Department
- Federal Motor Carrier Safety Administration
Business Impact
$$ - Med
The notice outlines the regulatory requirements for financial responsibility documentation for motor carriers, freight forwarders, and brokers, impacting compliance costs and operational procedures for these businesses. Specifically, companies must adhere to insurance and bond requirements to maintain authority to operate, as detailed in the ICR.