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International Fuel Tax Agreement (IFTA) Checklist
License and Decal Maintenance
Ensure all vehicles in the fleet have current IFTA decals displayed
Maintain copies of the IFTA license in each vehicle
Apply for renewal of IFTA decals and licenses before expiration
Mileage Tracking
Implement a system to accurately track and record all miles traveled in each jurisdiction for all vehicles
Cross-check odometer readings with GPS data for consistency
Retain toll receipts as they often contain mileage data
Fuel Purchase Recording
Keep detailed receipts of all fuel purchases, including date, location, gallons/liters purchased, and vehicle identification
Ensure drivers log fuel purchases in the vehicle's trip report
Reconcile fuel receipts with credit card statements or fuel card reports
Quarterly Reporting
Prepare and file quarterly IFTA tax returns by the due date for each quarter
Verify all mileage and fuel data for accuracy before submitting the report
Maintain copies of filed tax returns along with supporting documents for audit purposes
Recordkeeping Compliance
Retain all IFTA-related records for a minimum of four years
Organize records by vehicle and quarter for easy access during audits
Establish a secure and systematic method for storing both paper and electronic records
Audit Preparation
Conduct internal audits regularly to ensure compliance with IFTA regulations
Train staff on IFTA requirements and proper documentation procedures
Develop an action plan to address any discrepancies found during internal audits
