[Code of Federal Regulations]
[Title 27, Volume 2]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR275.114a]

[Page 71-72]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                          TREASURY (CONTINUED)
 
PART 275--IMPORTATION OF TOBACCO PRODUCTS AND CIGARETTE PAPERS AND TUBES--Table of Contents
 
Subpart G--Puerto Rican Tobacco Products and Cigarette Papers and Tubes, 
                     Brought Into the United States
 
Sec. 275.114a  Qualification for extended deferral.

    Note: This section applies only to removals made before January 1, 
1983.
    (a) Bonded manufacturers with bonds executed before September 1, 
1973. Bonded manufacturers with bonds on Form 2936 executed before 
September 1, 1973, who desire to file returns under this subpart with 
benefit of the extended deferral permitted by Sec. 275.114 shall file 
with the regional director (compliance) an extension of coverage of bond 
on Form 2105. Such extension of coverage shall identify the particular 
bond to which it applies and shall contain a statement of purpose as 
follows:

    To continue in effect said bond (including all extensions or 
limitations of terms and conditions previously consented to and 
approved) notwithstanding that the time for payment of the tax may be 
deferred by the extended deferral period permitted by regulations in 27 
CFR 275.114.


If the bond on Form 2986 is in an amount insufficient to cover an 
extended deferral period, according to the requirements of Sec. 275.121, 
the bonded manufacturer must either file a new bond or file a 
strengthening bond to increase the total amount of the bonds then in 
force to a sufficient amount.
    (b) Bonded manufacturers with bonds executed after September 1, 
1973. Bonded manufacturers operating under original or superseding bonds 
executed after September 1, 1973, are automatically qualified for the 
extended deferral permitted by Sec. 275.114 (unless found in default as 
provided in Sec. 275.116). Such bonds must be executed in an amount 
sufficient to cover an extended deferral period, according to the 
requirements of Sec. 275.121.
    (c) Commencement of extended deferral. Bonded manufacturers may file 
returns with benefit of extended deferral only

[[Page 72]]

after the applicable bonds and extensions of coverage required by this 
section have been filed with and approved by the regional director 
(compliance).

(68A Stat. 847, as amended, 907, as amended; 26 U.S.C. 7101, 7652(a); 26 
U.S.C. 7805)

[T.D. ATF-5, 38 FR 19688, July 23, 1973. Redesignated at 40 FR 16835, 
Apr. 15, 1975, and amended by T.D. ATF-48, 44 FR 55855, Sept. 28, 1979; 
T.D. ATF-125, 48 FR 2123, Jan. 18, 1983; T.D. ATF-251, 52 FR 19340, May 
22, 1987]