ExpressIFTA Blog

Tuesday, September 23, 2014

IRP & IFTA Record Retention Requirements

Can you believe the 3rd Quarter IFTA deadline is almost here? The team at ExpressIFTA.com would like to remind you, it is on October 31st. What a perfect day for an IFTA deadline isn't it? Before the deadline gets here, let's go over the IRP and IFTA Record Retention Requirements. I can already sense your excitement...

IRP
When it comes to IRP record retention requirements, every state jurisdiction is different. Some states will require you to maintain records longer than others. Three years is the usual amount of time, but contact your state jurisdiction for the exact requirements.
The purpose of filing away your IRP records properly is to defeat a dreaded audit with no problems. Audits happen periodically to ensure that acceptable records are maintained.

IFTA
Just like IRP, IFTA record retention requirements depend on your state jurisdiction. Every state has to do it differently, but all you need to do is contact your jurisdiction office and ask them. Generally the requirement is Four Years, and the records support the information accurately reported on your fuel tax returns.

It is very important to maintain accurate IFTA records because by law, base jurisdictions are required to audit 3% of IFTA accounts per year. When using ExpressIFTA.com to generate your IFTA returns, you will always have a saved copy in your ExpressIFTA account. So you always have a backup to the backup you printed out.

For both IRP and IFTA records, the vehicle mileage and fuel trip reports must contain the following:

  • Date of trip (start and end)
  • Trip origin and destination
  • Routes of travel and/or state line odometer readings
  • Beginning and ending odometer or hub odometer readings
  • Total trip miles
  • Mileage by state/province
  • Unit number or VIN
  • Vehicle fleet number
  • Registrant's name
To know exactly the amount of time to hold on to IRP and IFTA records, contact your base jurisdiction. You can find out more about IFTA requirements by visiting the following blogs:

Do You Know What Is Required For Your IFTA Distance Records

IFTA Things To Know: Late/No Filing Penalties

Don't Make These Mistakes On Your IFTA


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