CCF Application Aids
1. If you have an extension for filing your tax return, you must submit a copy of the tax extension notice. If it‘s not an automatic extension, it must include the IRS approval.
2. A Certificate of Documentation or Abstract of Title must be included for all Schedule A vessels.
4. All forms submitted which require a signature, must be originals. No copies will be accepted.
5. If the application includes a used vessel acquisition, you must submit the additional Schedule B objective.
- A. If the vessel is less than 5 years old, you must submit a Schedule B for either of the following objectives:
- B. If the vessel is 5 years old or more, you must submit the following objective:
- Reconstruction of that vessel acquired within 7 years from the purchase date [Schbreco].
6. If you intend to make a deposit of sale or insurance proceeds, please provide us with the name of the vessel which was sold, a copy of the Bill of Sale and a completed Net Proceeds Worksheet [net proceeds form].
7. Two years of Federal Income tax returns are required.
8. Application must include the name of depository and the city and state where it is located.
Find it on the Web
If you are unsure of a Coast Guard Documented Vessel’s net and gross tonnage and the year the vessel was built, please refer to the web site:
*The Port State Information Exchange (PSIX) system contains vessel specific information derived from the U.S. Coast Guard.
If the net and gross tons of a vessel are unknown, and the manufacturer, Coast Guard, and the state have no record of the data, please refer to this web site for the "Interactive Application for Simplified Measurement": http://www.uscg.mil/hq/cg5/msc/interactive_tonnage.asp
Our sister agency, Capital Construction Fund in the Department of Transportation, assists owners of large vessels as barges, tugs, tankers, and others. The program encourages construction, reconstruction, or acquisition of vessels through the deferment of Federal income taxes on certain deposits of money or other property placed into a Capital Construction Fund. Refer to:
If you want to check on a bill in Congress, refer to thomas.loc.gov.
If you have an IRS tax question relating to the fishing industry, e-mail questions to firstname.lastname@example.org.