46 CFR §67.165

1. (a)Option for deposit in lieu of renewal of endorsement. In lieu of renewing the endorsement(s) in accordance with § 67.163, the owner of a vessel which is exempt from the requirement for documentation under paragraph (c) of § 67.9 may deposit the vessel's outstanding Certificate of Documentation with the National Vessel Documentation Center.
2. (b)Reporting requirement. The owner of a vessel whose Certificate is on deposit in accordance with paragraph (a) of this section must make a written report to the National Vessel Documentation Center when:
   1. (1)Exchange of the Certificate is required upon the occurrence of one or more of the events described in § 67.167 (b), (c), or (d); or
   2. (2)The vessel is subject to deletion from the roll of actively documented vessels upon the occurrence of one or more of the events described in § 67.171(a)(1) through (8).
3. (c)Validity of document on deposit. A Certificate of Documentation placed on deposit in accordance with paragraph (a) of this section is valid for the purposes of:
   1. (1)46 U.S.C. chapter 125;
   2. (2)46 U.S.C. chapter 313;
   3. (3)46 U.S.C. 56101, 56102 and 57109; and
   4. (4)46 U.S.C. 56301.