27 CFR 24.154 - Superseding bonds and new bonds for existing proprietors.

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§ 24.154 Superseding bonds and new bonds for existing proprietors.

(a)Superseding bonds. When, in the opinion of the appropriate TTB officer, the interests of the Government demand it, or in any case where the validity of the bond becomes impaired in whole or in part for any reason, the principal must give a new bond that supersedes the existing bond. A superseding bond will be required immediately in the case of the insolvency of a corporate surety. Executors, administrators, assignees, receivers, trustees, or other persons acting in a fiduciary capacity, to continue or to liquidate the business of the principal, must execute and file a superseding bond or obtain the consent of the surety or sureties on the existing bond or bonds. When under the provisions of § 24.157 the surety has filed an application to be relieved of liability under any bond given under this part and the principal desires or intends to continue business or operations to which the bond relates, the principal must file a valid superseding bond to be effective on or before the date specified in the surety's notice. Superseding bonds will show the current date of execution and the effective date.

(b)New bonds for existing proprietors -

(1)General. Subject to paragraph (b)(2) of this section, if an existing proprietor has not furnished a bond or bonds covering operations and withdrawals of wine for nonindustrial use because the proprietor was exempt from bond requirements under § 24.146(d), the proprietormust furnish a bond or bonds as provided in this subpart beginning in any portion of a calendar year following the first date on which the aggregate amount of tax due from the proprietor during the calendar year exceeds $50,000. When furnishing the bond or bonds, the proprietormust also file an amended application as provided in § 24.132 to change the proprietor's bond status.

(2)Grace period for wine bonds under § 24.146(a). An existing proprietor who must furnish a wine bond under § 24.146(a) as provided in paragraph (b)(1) of this section will be treated as having furnished the required bond if the proprietor submits the bond on TTB F 5120.36 no later than 30 days following the first date on which the aggregate amount of tax due from the proprietor during the relevant calendar year exceeds $50,000. The proprietor will be treated as having furnished the required wine bond for purposes of this paragraph until TTB approves or disapproves the bond. Until TTB takes action on a bond submission, a proprietor who complies with the requirements of this paragraph may remove wine on which the tax has been determined, but not paid, to the extent that the proprietor's liability for tax on those removals does not exceed $1,000.

(3)Tax deferral bonds under § 24.146(b). The grace period specified in paragraph (b)(2) of this section does not apply to tax deferral bonds under § 24.146(b). Except to the extent authorized under paragraph (b)(2) of this section, a proprietor who must furnish a tax deferral bond under paragraph (b)(1) of this section may not withdraw wine from the bonded premises on which the tax has been determined, but not paid, until TTB approves the tax deferral bond.

(Sec. 201, Pub. L. 85-859, 72 Stat. 1379, as amended, 1380, as amended, 1394, as amended (26 U.S.C. 5354, 5362, 5551))
(Approved by the Office of Management and Budget under control number 1513-0009)
[T.D. TTB-146, 82 FR 1125, Jan. 4, 2017]

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
U.S. Code: Title 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES
U.S. Code: Title 26 - INTERNAL REVENUE CODE

§ 5001 - Imposition, rate, and attachment of tax

§ 5008 - Abatement, remission, refund, and allowance for loss or destruction of distilled spirits

§ 5041 - Imposition and rate of tax

§ 5042 - Exemption from tax

§ 5044 - Refund of tax on wine

§ 5061 - Method of collecting tax

§ 5062 - Refund and drawback in case of exportation

§ 5121 - Recordkeeping by wholesale dealers

§ 5122 - Recordkeeping by retail dealers

§ 5123 - Preservation and inspection of records, and entry of premises for inspection

§ 5124 - Registration by dealers

§ 5173 - Bonds

§ 5206 - Containers

§ 5214 - Withdrawal of distilled spirits from bonded premises free of tax or without payment of tax

§ 5215 - Return of tax determined distilled spirits to bonded premises

§ 5351 - Bonded wine cellar

§ 5353 - Bonded wine warehouse

§ 5354 - Bond

§ 5356 - Application

§ 5357 - Premises

§ 5361 - Bonded wine cellar operations

§ 5362 - Removals of wine from bonded wine cellars

§ 5364 - Wine imported in bulk

§ 5365 - Segregation of operations

§ 5366 - Supervision

§ 5367 - Records

§ 5368 - Gauging and marking

§ 5369 - Inventories

§ 5370 - Losses

§ 5371 - Insurance coverage, etc.

§ 5372 - Sampling

§ 5373 - Wine spirits

§ 5381 - Natural wine

§ 5382 - Cellar treatment of natural wine

§ 5383 - Amelioration and sweetening limitations for natural grape wines

§ 5384 - Amelioration and sweetening limitations for natural fruit and berry wines

§ 5385 - Specially sweetened natural wines

§ 5386 - Special natural wines

§ 5387 - Agricultural wines

§ 5388 - Designation of wines

§ 5391 - Exemption from distilled spirits taxes

§ 5392 - Definitions

§ 5511 - Establishment and operation

§ 5551 - General provisions relating to bonds

§ 5552 - Installation of meters, tanks, and other apparatus

§ 5661 - Penalty and forfeiture for violation of laws and regulations relating to wine

§ 5662 - Penalty for alteration of wine labels

§ 5684 - Penalties relating to the payment and collection of liquor taxes

§ 6065 - Verification of returns

§ 6091 - Place for filing returns or other documents

§ 6109 - Identifying numbers

§ 6301 - Collection authority

§ 6302 - Mode or time of collection

§ 6311 - Payment of tax by commercially acceptable means

§ 6651 - Failure to file tax return or to pay tax

§ 6676 - Erroneous claim for refund or credit

§ 7302 - Property used in violation of internal revenue laws

§ 7342 - Penalty for refusal to permit entry or examination

§ 7502 - Timely mailing treated as timely filing and paying

§ 7503 - Time for performance of acts where last day falls on Saturday, Sunday, or legal holiday

§ 7606 - Entry of premises for examination of taxable objects

§ 7805 - Rules and regulations

§ 7851 - Applicability of revenue laws

U.S. Code: Title 31 - MONEY AND FINANCE

Title 27 published on 2015-11-28

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 27 CFR Part 24 after this date.

  • 2017-01-04; vol. 82 # 2 - Wednesday, January 4, 2017
    1. 82 FR 1108 - Changes to Certain Alcohol-Related Regulations Governing Bond Requirements and Tax Return Filing Periods
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Alcohol and Tobacco Tax and Trade Bureau
      Temporary rule; Treasury decision; cross reference to notice of proposed rulemaking.
      This rule is effective January 4, 2017.
      27 CFR Parts 18, 19, 24, 25, 26, 27, 28, and 30
The section you are viewing is cited by the following CFR sections.

Title 27 published on 2015-11-28.

The following are only the Rules published in the Federal Register after the published date of Title 27.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2017-01-04; vol. 82 # 2 - Wednesday, January 4, 2017
    1. 82 FR 1108 - Changes to Certain Alcohol-Related Regulations Governing Bond Requirements and Tax Return Filing Periods
      GPO FDSys: XML | Text
      DEPARTMENT OF THE TREASURY, Alcohol and Tobacco Tax and Trade Bureau
      Temporary rule; Treasury decision; cross reference to notice of proposed rulemaking.
      This rule is effective January 4, 2017.
      27 CFR Parts 18, 19, 24, 25, 26, 27, 28, and 30