Owning and operating your own trucking business comes with a unique set of challenges and responsibilities. One critical aspect is staying on top of various deadlines. Missing one can lead to hefty fines, compliance issues, or even suspension of your operating authority. Once suspended, even if reinstated, the clock is reset on the authority age of your operating authority, affecting your ability to haul with certain brokers.
This guide provides an overview of essential deadlines to keep your business running smoothly. From tax filings to vehicle inspections, an owner-operator’s business has many deadlines.
What deadlines are there?
Logistics is a highly regulated industry, and with that comes many deadlines to stay compliant. On top of the usual deadlines that business owners must be aware of, owner-operators have many more to keep track of that are specific to being a trucking business.
1 - Trucking License & Compliance Deadlines
Trucking is a highly regulated industry, and therefore has a lot of licensing requirements and compliance deadlines to meet. Unfortunately, the industry filing requirements are also highly fragmented spread across multiple agencies federal, state, international, and/or interstate.
IRP Plate Renewal
IRP, short for International Registration Plan, is an agreement between the continental US states and Canada with regards to the registration process and fees for commercial vehicles. Carriers need to renew the registration every year and get updated plates. The exact date varies depending on when the original plates were issued and the specific jurisdiction that issues them.
Annual UCR Filing
UCR short for Unified Carrier Registration is a streamlined process to register the motor carrier’s business with a specific jurisdiction, usually requiring an annual fee. Registrations need to be renewed every year between October 1 and December 31, with payment required by December 31st for the following calendar year.
MSC-150
The MSC-150 is a required informational filing with the FMCSA for motor carrier authorities. Due on biennial basis on or before the designated deadline. The FMCSA relies on the MSC-150 for updated self-reported information by the carrier. The deadline varies depending on the last two digits of the assigned USDOT Number.
HVUT Form 2290
HVUT is short for Heavy Vehicle Use Tax. HVUT is a federal excise tax for heavy vehicles to use public highways. Form 2290 needs to be filed and taxes paid to the IRS by August 31st of each year.
The due date for new vehicles registering may vary based on the purchase and/or in use date.
IFTA Annual Renewal
IFTA, short for International Fuel Tax Agreement, is an agreement between the continental US states and Canada with regards to how fuel use is reported for motor carriers that operate interstate and/or cross-border.
The IFTA licenses and decals need to be renewed annually between October 1st and November 30th each year.
IFTA Quarterly Filing
The IFTA quarterly filing is essentially a quarterly tax on fuel based on miles traveled. The information typically required comes from the owner-operators’ ELDs. Carriers have to file for the previous quarter within the following month’s end.
- April 30 for same year Q1
- July 31 for Q2
- October 31 for Q3
- January 31 for prior year Q4
State Specific Trucking Filings & Licensing Renewals
Beyond the international streamlined processes of the IRP and IFTA, some states will also have an additional highway use tax or fee specific to the state. Any carrier which hauls loads through the state will need to renew the appropriate licenses. Some example states that do have a highway use tax include: New York (HUT), Kentucky (KYU), and Connecticut (HUF). The filing deadlines vary by state but are typically quarterly and fall on the same timeframe as IFTA’s quarterly filings.
2 - Vehicle Inspection and Maintenance Deadlines
Regular vehicle inspections and maintenance are additional legal requirements. The Federal Motor Carrier Safety Administration (FMCSA) mandates that commercial vehicles undergo annual inspections to ensure they meet safety standards.
Motor Vehicle Record (MVR)
A MVR is needed for each driver employed or contracted with your carrier. The record is a report which covers information on the driver’s personal information, driving record, licensing information, any offenses, and any other relevant information related to their driving.
The information needs to be collected annually as part of the Driver Qualification Files and mandated by FMCSA regulations. Although it is required for employers to do this annually, there is no stipulation on the exact deadline.
FMCSA Clearinghouse Report
Required by the FMCSA for every driver, the carrier needs to register with the FMCSA Clearinghouse to do an annual check on each driver. The purpose is to ensure that carriers working with truckers are aware of any drug and/or alcohol violations.
Although there’s no specific deadline, this must be done annually for each driver.
Annual Vehicle inspections
Each vehicle on the fleet must have annual vehicle inspections as mandated by the FMCSA. The purpose of this requirement is to ensure that vehicles meet safety standards. The inspection report and dates must be kept with the vehicle.
3 - Insurance Renewals
A commonly missed deadline on trucking compliance checklist are insurance renewals. Insurance, much like licensing, is a requirement in order for carriers to operate. Most brokers and shipping companies will not contract loads out to carriers who are not insured or are underinsured.
In particular, in the month leading up to an insurance renewal event, some brokers may pause on approving a carrier’s setup request during compliance review because the date of insurance expiration is coming up.
The renewal date is dependent on each owner-operators’ policy coverage period and needs to be renewed every year.
4 - Annual International Road Check
Although not an actual deadline, this annual event that usually falls in mid-May is important to prepare for. Every year the Commercial Vehicle Safety Alliance (CVSA) in collaboration with government agencies from the US, Canada, and Mexico perform continuous, randomized inspections over a 72-hour period. The inspection typically looks at both the driver and the vehicle, with a particular focus on a few target areas that change each year.
In 2024, the CVSA annual road check occurred between May 14-16, 2024.
5 - Quarterly Tax Deadlines
As a business owner or self-employed individual, owner-operators like other businesses have to be aware of quarterly income tax and self-employment tax deadlines. This usually applies at both the federal and state levels. Late filings can incur penalties.
The federal quarterly tax deadlines typically fall annually on the following dates:
- April 15th for the first payment
- June 15th for the second payment
- September 15th for the third payment
- January 15th of the following calendar year for the fourth payment.
Generally, the dates for the state payments follow the federal dates, but there are exceptions. For exact dates, check with your state’s official website to confirm. Additionally, in some years, the dates for the federal deadlines will shift by a few days if the 15th falls on a weekend or a federal holiday.
Don’t Forget Annual Income Tax Filings
Annual income and self-employment tax filings are also due to the IRS at the federal level on April 15th or May 15th, depending on your business corporate structure. Similarly, state tax filings generally follow the federal deadline, though refer to your state’s specific website for updated information.
Note that if you are not ready to file your taxes by the deadline, you can file for an extension. Extensions, however, apply to the actual tax filing but not the quarterly estimated tax payments.
6 - IRS Personnel Related Filings
Form 1099-NEC for Non-Employee Compensation
If you are an owner-operator leased onto another carrier or have truckers leased onto your authority, then usually your business will receive (or issue) the form 1099-NEC for any non-employee compensation, i.e. for compensation tied to moving the load.
For businesses issuing out 1099-NECs, the deadlines to look out for are:
- January 31 – to issue to the recipient, and
- March 31 – to file with the IRS.
Similarly, if you expect to receive 1099-NEC for your tax filings, mark your calendar for when you expect to receive these forms. Note that in some cases a business is not required to issue a 1099-NECs. In those cases, the business who received the compensation is expected to keep their own records for income tax purposes.
Form W-2 for Employee Compensation
If your business employs drivers, then Form W-2 needs to be filed and issued to the employee by the following date for the prior tax year:
- January 31 – to issue to the recipient.
7 - Business Entity Annual Reports
If you operate your business as a LLC or corporation, then most states require either an annual or biennial report. This informational filing is required in order to keep the business entity in good standing with the state where it is incorporated. Some states may also require a franchise tax or annual filing fee to be paid at the time of the annual report.
The exact due date varies by state and is dependent on when the business was incorporated.
What are some key dates to remember?
We’ve covered a lot of deadlines which can be overwhelming. To help you stay organized, here’s a recap of some of the essential deadlines detailed above:
- UCR Annual Filing
- October 1 - December 31. By December 31 for the following year.
- IRP Plates Renewal
- Annual based on issued date
- IFTA Renewal
- October 1 - November 30
- Quarterly IFTA Filing Dates
- April 30
- July 31
- October 31
- January 31
- Heavy Vehicle Use Tax - Form 2290
- August 31
- Quarterly Tax Estimates
- April 15
- June 15
- September 15
- January 15
- 1099 and W2 Due Dates
- January 31
Mark these dates on your calendar and set reminders to ensure you never miss a deadline.
Note that this is a condensed list. As can be seen above, there are more deadlines with dates specific to the owner-operator’s business and specific situations.
How to stay on top of deadlines?
Staying organized is key to meeting all these deadlines. Here are some tips to help you stay on top of your responsibilities:
1 - Create Calendar Reminders
Add each of the events onto your calendar whether it’s on Google Calendar, Microsoft Outlook, or a physical calendar. For cloud-based calendars, events can be set to recur annually with the ability to add attachments and descriptions to ensure there’s context and information available for future filings or historical reference.
2 - Have a Checklist
Not a calendar person? Then have an annual checklist of all the events and deadlines for the upcoming 12 months and keep it with all of your important records. Then check in at the beginning of every month for any upcoming events.
3 - Dedicate Time
Most importantly, carve out time to cover these business administrative tasks. Although the time dedicated here is time not earning income on the road, staying up to date on deadlines help to ensure your business can continue to operate.
4 - Consult with a Professional
If this is overwhelming for you, then consult with a professional such as a tax CPA from reputable firms like ATBS or purchase compliance software to help manage your business.
Need more information?
The deadlines that owner-operators are subject to are highly fragmented both in when they are due as well as to which agency a registration, renewal, or filing must be submitted to. The number of forms to comb through can feel overwhelming. Additionally, requirements can change from time to time if new regulations come out or are updated.
Here are some resources to help you stay updated on deadlines and compliance:
- FMCSA Website: The Federal Motor Carrier Safety Administration’s website is a comprehensive resource for all regulations, deadlines, and compliance requirements.
- IRS Website: For tax-related information, the IRS website provides detailed guidelines on quarterly tax payments, deductions, and penalties.
- Industry Associations: Organizations like the Owner-Operator Independent Drivers Association (OOIDA) offer valuable resources, including compliance guides, legal advice, and industry news.
- Trucking Professionals: Trucking is a massive industry. There are trucking specific professionals in taxes, law, and compliance specializing in various areas of transportation.
This is a shortlist to help you get started, but there are even more options available. Getting ahead of these deadlines can help you focus on running your business.
Don’t Miss Another Deadline
Understanding and managing deadlines is a must for owner-operators to succeed at the trade. At first blush, the process of staying on top of deadlines can feel daunting. However, by being organized, staying updated, and dedicating time, meeting deadlines is a solvable business problem. Add to that the capabilities of modern digital calendars, project management apps, and a plethora of professionals in the field, owner-operators can tap into solutions to ensure you and your business remains up to date on filings.
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