Section 500.330  Cancellation of License

a)         The Department may, at the request of a licensee or on its own initiative, cancel a license if the licensee has complied with all applicable provisions of the IFTA agreement, including the satisfaction of  all reporting requirements and tax liabilities. A licensee shall make a request for cancellation by making a notation on its electronic return and indicating its final date of operations.

b)         Upon cancellation, the carrier must destroy its original license and all copies, and decals.

c)         A final audit may be conducted by the Department, or by any IFTA jurisdiction, upon cancellation of the license. When a license is cancelled, a carrier must retain all records for a period of four years from the due date of the final quarterly tax return.

(Source:  Amended at 36 Ill. Reg. 6677, effective April 12, 2012)