The recordkeeping rules for the International Fuel Tax Agreement (IFTA) and the International Registration Plan (IRP) are extensive. Both programs, however, require that you keep the same basic types of information (for interstate vehicles over 26,000 pounds or with three or more axles):
Fuel receipts and bulk-fuel usage (IFTA only) IFTA requires quarterly tax filings as well as annual renewal, while IRP involves yearly registration. Keeping reliable records and avoiding things like missing receipts or unaccounted-for gap miles in mileage reports is vital when the auditors arrive.
Also vital is keeping track of how long each record must be maintained. For example, mileage data must be kept for three years for IRP purposes but four years for IFTA. However, the IRP timeframe may extend to over six years, depending on the timing of registration.
Confusing? Yes, but an electronic record management system, like J. J. Keller® Encompass® Fleet Management, can prevent headaches by tracking timelines for you.
NTA is an official reseller of JJ Keller products & services.
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