Capital Construction Fund - Documents and Forms
Application Documents
The law requires that applicants enter into a formal agreement with the Secretary of Commerce. The agreement allows the vessel's owner to deposit tax deferred funds which can be used for the construction, reconstruction, or acquisition and reconstruction of a qualified vessel. Applications are accepted at any time, however a complete application must be submitted by your tax due date including extensions to be effective for that particular tax year.
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List
of all CCF Application Documents
| *Capital Construction Fund Brochure | |
| 1. | Application Information Cover Letter [Appcov~1] |
| 2. | 50-CFR, Part 259.31 [259-31] |
| 3. | Instructions [Ap_Inst] |
| 4. | Agreement (you must submit 2 copies) [AGREEMENT] |
| 5. | Fishing Vessel CCF Application [AppLet_temp] |
| 6. | Partnership Authorization [Partners] |
| 7. | Schedule A Eligible Vessel [Sch A.for] |
| 8. | Schedule B - Qualified Vessel for Construction, Acquisition and/or Mortgage Payments [Schbcam] |
| 9. | Schedule B - Qualified Vessel for Reconstruction [Schbreco] |
| 10. | Declaration of Citizenship - Corporation [Corpcitz] |
| 11. | Certificate of Corporate Secretary [Corpsec] |
| 12. | Declaration of Citizenship Partnership [Citzpartn] |
| 13. | Capital Construction Fund (CCF) Program Investment Guide [Investgd] |
| 14. | Mutual Fund List [CCF1] |
| 15. | IRS Publication 595 [page 7] |
INDIVIDUAL GROUPING OF CCF APPLICATION DOCUMENTS
Schedule A and Schedule B Forms
Complete a Schedule A for each income producing vessel. Complete a Schedule B form for each qualified vessel project. Schedule B data should include actual or anticipated plans for either construction, acquisition, reconstruction or safety reconstruction. If you are not currently a CCF agreement holder, these forms should be submitted as part of the application.
- Schedule A - Eligible Vessel [Sch A.for]
- Schedule B - Qualified Vessel for Construction, Acquisition and/or Mortgage Payments [Schbcam]
- Schedule B - Qualified Vessel for Reconstruction [Schbreco]
- Schedule B - Qualified Vessel for Safety Reconstruction [Schbsafe]
Safety Projects
CCF funds can be used for acquisition and installation of safety equipment if the expenditure is required under the Commercial Fishing Industry Vessel Safety Act of 1988, or its central purpose is to materially increase the safety of the vessel. This objective is limited to safety items only.
- 50-CFR-PART 259.31e [259-31e]
- Schedule B - Qualified Vessel for Safety Reconstruction [Schbsafe]
Documents Dealing with Withdrawal permission Requirements
Withdrawal permission is conditioned upon receipt of certain forms. These forms include:
- Schedule A Eligible Vessel [Sch_A.for]
- Certificate of Construction/Reconstruction [Constcer.for]
- Schedule of Tax Basis [taxbasis]
Deposit/Withdrawal Report Annual Filing (NOAA Form 34-82)
The Deposit/Withdrawal Report is required to be filed each year within 30 days after the due date of that year’s tax return, even if no deposits or withdrawals are made. The Deposit/Withdrawal Report must be signed and be attached to a complete copy of the tax return (as filed with the IRS).
- NOAA FORM 34-82 General Information [DWR-P1 & p2]
- Deposit/Withdrawal Report Form [form 34-82]
- Net Proceeds Worksheet [net proceeds form]
- Non-Qualified Withdrawals Interest Rate
Terminations
Prior to terminating your agreement, you must notify us in writing. You must include the date the account was closed or will be closed. Your file will be reviewed by the CCF Staff and any documents that are missing will be requested. We must receive all missing documents and all requirements of your Agreements must be met before we can terminate your Agreement. Under limited circumstances, you may be relieved of the paperwork burden of supplying missing Deposit/Withdrawal Reports and for tax returns by filing the following forms:
- Affidavit of CCF Agreement's Inactive Status [Inact_2]
- Affidavit of NO CCF Activity [Noact_1]
