27 CFR § 24.148
Penal sums of bonds
April 24, 2020
The penal sums of bonds prescribed in this part are as follows:
Open Table
| Bond | Basis | Penal sum | |
|---|---|---|---|
| Minimum | Maximum | ||
| (a) Wine Bond, TTB F 5120.36 | (1) Wine operations coverage. (i) Not less than the tax on all wine or spirits possessed, in transit, or unaccounted for at any one time, taking into account the appropriate small producer wine tax credit | $1,000 | $50,000 |
| (ii) Where the liability exceeds $250,000 | 100,000 | ||
| (2) Tax deferral coverage. Where the unpaid tax amounts to more than $500, not less than the amount of tax which, at any one time, has been determined but not paid. Exception: $1,000 of the wine operations coverage may be allocated to cover the amount of tax which, at any one time, has been determined but not paid, if the total operations coverage is $2,000 or more | 500 | 250,000 | |
| (b) Wine Vinegar Plant Bond, TTB F 5510.2 | Not less than the tax on all wine on hand, in transit, or unaccounted for at any one time | 1,000 | 100,000 |
*The proprietor of bonded wine premises who operates an adjacent or contiguous wine vinegar plant with a wine bond that does not cover the operation may file a consent of surety to extend the terms of the wine bond in lieu of filing a wine vinegar plant bond.
(26 U.S.C. 5354, 5362)
(Approved by the Office of Management and Budget under control number 1513-0009)
[T.D. TTB-64, 72 FR 65454, Nov. 21, 2007]
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