P&SP 3700 Status of Custodial Bank Account for Shipper's Proceeds

OMB Control No. 0580-0015
U.S. DEPARTMENT OF AGRICULTURE
GRAIN INSPECTION, PACKERS AND
STOCKYARDS ADMINISTRATION
PACKERS AND STOCKYARDS PROGRAM

STATUS OF CUSTODIAL BANK ACCOUNT
FOR SHIPPERS’ PROCEEDS
SPECIAL REPORT

NOTE: If space provided in any item is not sufficient, attach additional sheets and make reference to the item
number.

PART I – GENERAL
1. Registrant’s Name and Mailing Address (Street and
No., City, State, and Zip Code), and Telephone No.
NOTE: If Registrant Operates Under A Different
Name(s), List All Names Under Which Registrant
Operates.

2. Name and Mailing Address (Street and No., City,
State, and Zip Code) of Bank Where Custodial Account
is Located:

Telephone No. of Bank:

3. Designation or Title of Custodial Account on Bank
Statement:

4. Designation or Title of Custodial Account on Checks
Issued:

Custodial Account Number(s):

Return report to appropriate regional office specified in the instructions (P&SP-3700-i).
Response is required in order to determine establishment, maintenance and status of custodial account (9 CFR 201.97). Information held
confidential (9 CFR 201.96).
This report is to be filed pursuant to the Packers and Stockyards Act, 1921, as amended and supplemented (7 U.S.C. 181-229) and 9 CFR 201.97.
The market agency filing such report is subject to penalties. The Packers and Stockyards Act, 1921, as amended and supplemented provides in
part that: “Any person who shall willfully make, or cause to be made, any false entry or statement of fact in any report required to be made under
this Act … shall be deemed guilty of an offense against the United States, and shall be subject, upon conviction in any court of the United States
of competent jurisdiction, to a fine of not less that $1,000 nor more than $5,000, or to imprisonment for a term of not more than three years, or to
both such fine and imprisonment.”
According to the Paperwork Reduction Act of 1995, no persons are required to respond to a collection of information unless it displays a valid
OMB control number. The valid OMB control number for this information is 0580-0015. The time required to complete this information
collection is estimated to average 30 minutes per response, including the time to review instructions, search existing data resources, gather the
data needed, and complete and review the information collection.
August 2007

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PART II – ANALYSIS OF CUSTODIAL BANK ACCOUNT FOR SHIPPERS’ PROCEEDS
5. Analysis as of: Date ______________________________
6. Regular Sale Day (s):

‰ Sun

‰ Mon

‰ Tue

‰ Wed

‰ Thu

‰ Fri

‰ Sat

$
7. Balance According to Bank Statement Dated ____________________________

8. Deposits in Transit (in mail or bank, but not on statement)
9. Custodial funds held in a savings account and/or one or more certificates of
deposit(s) that are designated as part of the custodial account and maintained in the
same bank as the custodial account.
10. Proceeds on Hand
11. Current Proceeds Receivable (give details on page 3 of form)
$
12. TOTAL DEBITS
$
13. Outstanding Checks and Drafts That Have Not Cleared Bank
14. Proceeds Due Shippers of Livestock for Which No Checks Were Issued
15. Expense Items Incident to Sales Remaining in Account
$
16. TOTAL CREDITS
CERTIFICATION
I certify that this report has been prepared by me or under my direction and that, to the best of my
knowledge and belief, this report is true and correct.
17. Date

18. Title

August 2007

Form P&SP-3700

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19. Signature of Owner, Partner, or Responsible Officer

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11. CURRENT PROCEEDS RECEIVABLE. All proceeds receivable from the sale of consigned livestock are classified
as current proceeds receivable on the day of sale and thereafter until the close of the seventh day following the sale,
except that, after the close of the next business day after the sale, the classification of the following proceeds
receivable changes from current to noncurrent:
•

Buyers who were extended credit, or otherwise relieved of the duty to transmit or deliver to the market
agency the full amount of the purchase price by the close of the next business day following the
purchase of livestock and

•

Receivables due from the market agency or its owners, officers or employees.

Date of Sale
(a)

Name of Buyer
(b)

$

Total Current Proceeds Receivable

August 2007

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Amount
(c)

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