New Source of Funds Requirement for TTB Permit Applications

Those of you that may have recently filed an original TTB application as a brewery, winery, distillery, importer or wholesaler may have noticed that the TTB now requires “source of funds” documentation as part of the application materials.  The requirement simply requires disclosure as to the source of the funds you will be using to start and/or operate your business, and can typically be satisfied by providing TTB copies of bank records (TTB requires 5 months worth of statements) or loan documents.  While the regulation may be considered burdensome to some, especially those who have long held other permits with the TTB, the new rule is in line with the TTB’s goal of identifying the parties that will have an interest in any alcohol beverage permits that may be issued.
For more information on the TTB permitting process, please contact Bahaneh Hobel at [email protected].
Copyright Dickenson Peatman & Fogarty at www.lexvini.com