A Freight Broker’s Guide to Success: How to File for Voluntary Revocation
Estimated Read Time: 2 minutes
01-23-2024
Step One- Complete the Forms:
(A) Complete the FMCSA Form OCE-46. This form identifies the business, requests a change to your authority status and must be notarized or signed in front of an FMCSA employee.
(B) Complete the FMCSA Form MCS-150. This form inactivates or updates the status of your USDOT number.
DOWNLOAD MCS-150
DOWNLOAD MCS-150B (for Hazmat Carriers Only)
If you wish to inactivate your USDOT number, make sure that under the section “Reason for Filing”, check the box “Out of Business Notification”. If you intend to strictly update your USDOT to continue operations outside broker authority, select the box “Biennial Update or Changes”.
Step Two- Submit the Forms:
There are multiple ways to submit these forms, the best way being submitting a ticket to the FMCSA support email. FMCSA lists this as the quickest option to complete the task.
If you are unable to use the online support ticket submission in the link above, you can mail in a physical copy of the forms required to the address below or fax to (202) 366-3477:
Federal Motor Carrier Safety Administration
Office of Registration and Safety Information
1200 New Jersey Ave, SE, Room W65-206
Washington, D.C. 20590
You will need to include a copy of the owner’s Drivers License when submitting Form MCS-150 or MCS-150B by using a scanned image of the ID belonging to the owner.
From the perspective of a surety bond provider, sending this notification to the FMCSA is an important task to complete if you have interest in resuming your freight broker authority in the future without any delays or price increases. If your surety bond is canceled with zero notice provided to the FMCSA, your public profile will automatically show as Involuntary Revocation. A surety bond company can only guess whether the revocation was due to bond claim activity, missed surety bond payment or disciplinary action. It’s best not to leave this up for assumption, which is where Voluntary Revocation comes into play.
A voluntary revocation shows that the broker exited the industry intentionally and in good standing. This small bit of information can benefit your brokerage if you decide to step back into the industry. With Jet, this kind of initiative can help reduce your rate and qualify you for monthly payments.
If you have other questions regarding Voluntary Revocation, you can visit the FMCSA portal here. If you are interested in a surety bond quote, visit Jet’s Freight Broker Surety Bond page.
