Uniform Financial Reporting Requirements

The Uniform Financial Reporting Requirements collection is required to obtain and/or retain benefits. The Form MA-172, is sent to, and prepared by, companies doing business with MARAD in order to determine compliance with regulatory and contractual requirements. It is used as a basis for preparing and filing semi-annual and annual financial statements with MARAD. Companies are required to provide their financial data to MARAD twice a year. Regulations requiring financial reports to MARAD are authorized by Section 801, Merchant Marine Act, 1936, as amended (46 App. U.S.C. 1211). Financial Reports are also required by regulation of purchasers of ships from MARAD on credit, companies chartering ships from MARAD, and of companies having Title XI guarantee obligations (46 CFR Part 298). The information is used within MARAD, retained for 3-5 years and is not disclosed outside of the agency (it is confidential business information).

The latest form for Uniform Financial Reporting Requirements expires 2021-01-31 and can be found here.