ExpressIFTA Blog

Monday, April 6, 2015

Maintaining Your IFTA Records

Have you been keeping up with your IFTA Records? It is very important to keep accurate records in case you are ever requested to participate in an IFTA audit. As stated in the IFTA Procedural Manual, you are required to maintain your records for 4 years from the due date or the quarterly tax return, whichever is later, plus any time period included as a result of waivers or jeopardy assessments. Records may be kept on microfilm, microfiche, or other computerized or condensed record storage system acceptable to the base jurisdiction. Non-compliance with any record keeping requirement may result in the revocation of the license. 

Record Keeping Requirements:

1. Detailed distance records which show operations on an individual-vehicle basis must contain, but not be limited to: taxable and non-taxable usage of fuel, distance traveled for taxable and non-taxable use, and distance recaps for each vehicle for each jurisdiction in which the vehicle operated. 

2. An acceptable distance accounting system is required, and supporting information should include:
- Date of trip (starting and ending)
- Trip origin and destination
- Route travel ( may be waived by base jurisdiction)
- Beginning and ending odometer or hub odometer reading of the trip (may be waived by base jurisdiction)
- Total trip miles/kilometer
- Unit number or vehicle identification number
- Vehicle fleet number
- Registrant's name
- May include additional information at the discretion of the base jurisdiction

Fuel Record Requirements

Complete fuel records of all motor fuel purchased, received, and used in the conduct of its business must be maintained. Separate totals must be compiled for each motor fuel type and retail fuel purchases and bulk fuel purchases are to be accounted for separately.

1. The fuel records shall contain, but not be limited to the following:
- The date of each receipts of fuel
- The name and address of the person from whom fuel was purchased or received
- The number of gallons or liters received
- The type of fuel
- The vehicle or equipment into which the fuel was placed

Fuel Receipt Requirements

Retail purchases must be supported by a receipt, invoice, credit card receipt, automated vendor generated invoice or transaction listing, or microfilm/microfiche of the receipt of invoice. Receipts that have been altered or indicate erasures are not accepted for tax-paid credits unless the licensee can demonstrate the receipt is valid. 

1. An acceptable receipt or invoice must include, but shall not be limited to, the following:
-Date of purchase
- Seller's name and address
- Number of gallons or liters purchased
- Fuel type
- Price per gallon or liter or total amount of sale
- Unit numbers
- Purchaser's name

Bulk Fuel Records

A licensee may claim a tax-paid credit on the IFTA tax return for bulk fuel only when the bulk storage tank from which the fuel is withdrawn is owned, leased or controlled by the licensee; the fuel is placed into the fuel tank of a qualified motor vehicle; and either the purchase price of the fuel includes tax paid to the member jurisdiction where the bulk fuel storage tank is located or the licensee has paid fuel tax to the member jurisdiction where the bulk fuel storage tank is located. 

1. Bulk fuel records must contain the following:
- Date of withdrawal
- Number of gallons or liters
- Fuel type
- Unit number
- Purchase and inventory records to substantiate that taxes were paid on all bulk purchases.

To sum everything up, you want to keep all your fuel receipts and maintain detailed distance records. ExpressIFTA makes it easy to keep accurate trip sheets/distance records and you can keep track of your fuel receipts. If you ever have any questions about e-filing your IFTA return, contact our US based support center, in Rock Hill SC, via phone: 704-234-6005 or email: support@expressIFTA.com.

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