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 that can be used for the construction, reconstruction, or acquisition and reconstruction of a qualified vessel. Applications are accepted at any time, but a complete application must be submitted by your tax due date, including extensions to be effective for that particular tax year.
List of All Capital Construction Fund Application Documents
- Application Information Cover Letter
- Fishing Vessel CCF Application
- Application Instructions
- Capital Construction Fund Agreement
- Schedule A Eligible Vessel
- Schedule B - Qualified Vessel for Construction, Acquisition and/or Mortgage Payments
- Schedule B - Qualified Vessel for Reconstruction
- Declaration of Citizenship - Corporation
- Corporate Authorization
- Declaration of Citizenship - Partnership
- Partnership Authorization
- Declaration of Citizenship - Limited Liability Company
- Limited Liability Company Authorization
- Capital Construction Fund Investment Guidelines
- Capital Construction Fund Frequently Asked Questions
Forms to Establish Projects
Complete a Schedule B form for each qualified vessel project. Schedule B data should include actual or anticipated plans for either construction, acquisition, or reconstruction. If you are not currently a Capital Construction Fund agreement holder, these forms should be submitted as part of the application.
- Schedule B - Qualified Vessel for Construction, Acquisition and/or Mortgage Payments
- Schedule B - Qualified Vessel for Reconstruction
Documents Dealing with Withdrawal Permission Requirements
Withdrawal permission is conditioned upon receipt of certain forms, including:
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
- Deposit/Withdrawal Report Form
- Net Proceeds Worksheet
- 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 Capital Construction Fund 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:
