Each air carrier collecting PFCs for a public agency must provide quarterly reports to the public agency unless otherwise agreed by the collecting air carrier and public agency, providing an accounting of funds collected and funds remitted.
Unless otherwise agreed by the collecting air carrier and public agency, reports must state:
The collecting air carrier and airport involved,
The total PFC revenue collected,
The total PFC revenue refunded to passengers,
The collected revenue withheld for reimbursement of expenses under § 158.53, and
The dates and amounts of each remittance for the quarter.
The report must be filed by the last day of the month following the calendar quarter or other period agreed by the collecting carrier and public agency for which funds were collected.
A covered air carrier must provide the FAA with:
A copy of its quarterly report by the established schedule under paragraph (a) of this section; and
A monthly PFC account statement delivered not later than the fifth day of the following month. This monthly statement must include:
The balance in the account on the first day of the month,
The total funds deposited during the month,
The total funds disbursed during the month, and
The closing balance in the account.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.