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Page 1 of 8 Instructions for Form 720-TO (9-2010) 16:17 - 30-SEP-2010
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
Department of the Treasury
Instructions for Form Internal Revenue Service
720-TO
(September 2010)
Terminal Operator Report
Section references are to the Internal Revenue Code unless How To Complete Form 720-TO
otherwise noted. Below are suggestions that will allow the IRS to process the
submitted forms in the most economical manner:
Reminders
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no entry is required. Leave the boxes blank unless the
General Instructions instructions specifically require that you enter a 0 (zero).
Purpose of Form Substitute Form 720-TO
Use Form 720-TO if you are a terminal operator to report If you want to prepare and use a substitute Form 720-TO, see
monthly receipts and disbursements of all liquid products to and Pub. 1167, General Rules and Specifications for Substitute
from all approved terminals. Forms and Schedules. If your substitute Form 720-TO is
approved, the form approval number must be printed in the
Reporting is required for inactive terminals. A separate lower left margin of each substitute form you file with the IRS.
! Schedule B must be prepared for each position holder
CAUTION and for each related product code that is destined for Extension of Time To File
more than one state or has more than one mode of A first time request for a 30 day extension will be granted, if
transportation. received in writing on or before the due date of the report.
Additional extensions may be considered if received prior to the
A liquid product is any liquid that is transported into storage due date of the return. Send your request to:
at a terminal or delivered out of a terminal. See Table 2.
Product Codes on page 6. Internal Revenue Service
Attn: Excise Unit
Who Must File Stop 5701G
Each terminal operator is required to file a separate Form Cincinnati, OH 45999
720-TO for each approved terminal.
Requests may also be faxed to (859) 669-5788.
When To File
Form 720-TO must be filed monthly. The report is due the last Corrected Returns
day of the month following the month in which the transaction If you filed a return with the IRS and later discover you made an
occurs. error, you must correct it as soon as possible. If you filed your
return electronically, see Pub. 3536 for instructions.
If any due date for filing a return falls on a Saturday, Sunday, When making a correction to a paper filed return, you must
or legal holiday, you may file the return on the next business send in the first page of Form 720-TO and the schedule(s) that
day. needs to be corrected with the “Void” box checked. Identify the
Send your information return using the U.S. Postal Service transaction you are correcting, either by highlighting or
or a designated private delivery service to meet the “timely attaching an explanation. Then, complete another first page of
mailing as timely filing/paying” rule. See Private Delivery Form 720-TO along with the corrected schedule(s) with the
Services on page 2. “Corrected” box checked. On the corrected schedule(s), only
enter the information for the transaction you are correcting.
Where To File Recordkeeping
Mail Form 720-TO to: Keep copies of information returns you have filed with the IRS
or the data to reconstruct them for at least 3 years from the date
Internal Revenue Service of the return. Your records must be available at all times for
Attn: Excise Unit inspection by the IRS.
Stop 5701G
Cincinnati, OH 45999
Penalty
Send the forms in a flat mailing (not folded). Do not staple, tear, Failure to file correct information returns by the due date.
or tape any of these forms. If you are sending a large number of If you fail to file a correct information return by the due date and
forms in conveniently sized packages, write your name and EIN you cannot show reasonable cause, you may be subject to a
on each package and number the packages consecutively. penalty. The penalty applies if you fail to file timely, you fail to
Postal regulations require forms and packages to be sent by include all information required to be shown on a return, or you
First-Class Mail. include incorrect information on a return. The penalty also
Cat. No. 54564T