In the August 12, 2014 Federal Register, the Coast Guard issued a final rule entitled "Vessel Documentation Renewal Fees." Currently there is no charge for renewals of endorsements; however, as of November 10, 2014, the Coast Guard will assess a $26 fee for the renewal of endorsements on a vessel's Certificate of Documentation, which must be renewed annually. According to the Coast Guard:
The purpose of this rule is to increase the annual Certificate of Documentation (COD) renewal fee collections so that the fees we charge more accurately reflect the actual costs to the Coast Guard of providing the annual documentation renewal services.
The final rule also states:
The estimated $6.1 million in revenue that the government will collect from the fee will enable the Coast Guard to continue offering these services to the public, which will allow private and commercial vessel owners to continue to benefit from the program.
If you have any questions related to this final rule, please contact your Thompson Coburn attorney or one of the maritime attorneys listed below.
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