Instructions For Forms 720-To And 720-Cs - (March 2001) (Page 3 of 16) in pdf

Line 6. Enter all gains and losses by product code. The amount

Terminal Operator Report, Form 720-TO

entered on line 6 will show any difference, plus or (minus),

between lines 5 and 7.

Purpose of Form

Line 7. Enter the actual physical ending inventory at the

Use Form 720-TO to report receipts and disbursements of all

terminal.

liquid products to and from all approved terminals.

Transaction Reporting Instructions for All

Definitions

Product Codes

Terminal means a taxable fuel storage and distribution facility

that is supplied by pipeline or vessel and from which taxable fuel

Schedule A—Terminal Operator Receipts

may be removed at a rack. However, the term does not include

any facility at which gasoline blendstocks are used in the

Use this schedule to report each receipt of product (bulk and

manufacture of products other than finished gasoline and from

non-bulk) by the terminal operator. A separate Schedule A must

which no gasoline is removed. Also, the term does not include

be used for each product code.

any facility where finished gasoline, undyed diesel fuel, or

Note: Non-bulk receipts of product code 092 or 122 can be

undyed kerosene is stored if the facility is operated by a taxable

reported in summary instead of detail. If you wish to summarize

fuel registrant and all such taxable fuel stored at the facility has

these transactions instead of reporting them as separate

been previously taxed under section 4081 upon removal from a

transactions, use the optional reporting instructions for

refinery or terminal.

Schedule A on page 4 instead of these instructions.

Approved terminal means a terminal that is operated by a

Product code. Enter the product code from Table 2 on page

taxable fuel registrant that is a terminal operator.

5. Product code 122 (blending components, other) includes

Position holder means (for IRS information reporting only),

gasoline blendstocks as defined in Regulations section

with respect to a liquid product in a terminal, the person that

48.4081–1(c)(3)(i) but not listed in the product code table.

holds the inventory position in the liquid product as reflected on

Column (a). Enter the name of the carrier that transports the

the records of the terminal operator. A person holds the

product into the terminal.

inventory position in a liquid product when that person has a

Column (b). Enter the carrier's EIN.

contractual agreement with the terminal operator for the use of

If the EIN is unknown and the carrier is not a foreign flag

storage facilities and terminaling services at a terminal with

vessel, enter 99–9999999.

respect to the liquid product. The term also includes a terminal

If the EIN is unknown and the carrier is a foreign flag vessel,

operator that owns a liquid product in its terminal.

enter 88–8888888.

Net gallons means liquid product measured in U.S. gallons

Column (c). Enter the code from Table 1 on page 4.

corrected to a temperature of sixty-degrees (60°) Fahrenheit or

fifteen-degrees (15°) Celsius and to a pressure of fourteen and

Column (d). Enter the date the product was received into the

seven-tenths (14.7) pounds per square inch (psi).

terminal (mmddyyyy).

Gross gallons means the total product measured in U.S.

Column (e). Enter the identifying number from the document

gallons without temperature or barometric adjustments.

provided by the carrier that reflects the details of the transaction.

This could be the terminal receipts document, pipeline ticket

Consignor means the person that hires the carrier to

number, barge ticket number, etc. Both the carrier and terminal

transport liquid product.

operator must report the same document number.

Who Must File

Column (f). Enter the net gallons received into the terminal per

the document in column (e). For non-bulk deliveries to a terminal

Each terminal operator is required to file a separate Form

where net gallons are not measured, enter gross gallons.

720-TO for each approved terminal.

Schedule B—Terminal Operator Disbursements by

Part II—Terminal

Position Holder

Name and location of terminal. Enter the name and location

of the terminal as published in the Federal Register for that

Use this schedule to report each disbursement of product (bulk

terminal. The list of terminals is also available on the IRS Web

and non-bulk) by the terminal operator by position holder. A

Site at Click on "Tax Info For Business," then

separate Schedule B by position holder must be used for each

click on "Excise Tax," and then click on "Terminal Control

product code.

Number (TCN) Database."

Note: Bulk and non-bulk disbursements of product code 092

Terminal control number (TCN). Enter the TCN assigned to

or 122 can be reported in summary instead of detail. If you wish

the terminal's physical location by the IRS. Follow the

to summarize these transactions instead of reporting them as

instructions above to access the IRS Web Site and the "Terminal

separate transactions, use the optional reporting instructions for

Control Number (TCN) Database." The instructions on the web

Schedule B on page 4 instead of these instructions.

page will tell you how to retrieve the TCN you need.

Position holder (PH) name. Enter the name of the entity

holding the inventory position in the terminal.

Part III—Transactions for the Month

Product code. Enter the product code from Table 2 on

Part III is for the terminal operator to provide a monthly summary

page 5.

of the terminal receipts and disbursements by product code.

Column (a). Enter the name of the carrier that transports the

Line 1. Enter the physical inventory of net gallons by product

product out of the terminal.

code at the beginning of the reporting period. This should be the

Column (b). Enter the carrier's EIN.

same number as reported for actual ending inventory the

If the EIN is unknown and the carrier is not a foreign flag

previous month.

vessel, enter 99–9999999.

Line 2. If you have more than one Schedule A, Terminal

If the EIN is unknown and the carrier is a foreign flag vessel,

Operator Receipts, for a product code, combine the totals from

enter 88–8888888.

each column (f) for the product code and enter the total on

Column (c). Enter the code from Table 1 on page 4.

line 2.

Column (d). Enter the destination state code from Table 3 on

Line 4. If you have more than one Schedule B, Terminal

page 6. The destination state code is required for non-bulk (truck

Operator Disbursements by Position Holder, for a product

or rail car) disbursements only. If a fuel transport truck is

code, combine the totals from each column (g) for the product

receiving fuel destined to different states, the terminal operator

code and enter the total on line 4.

will issue a bill of lading, manifest, or other shipping document

Page 3

Instructions For Forms 720-To And 720-Cs - (March 2001) Page 3

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