Final Rule · FR 2023-25312
Broker and Freight Forwarder Financial Responsibility
Published Nov 16, 2023 at 88 FR 78656. A plain-English summary, key dates and a link to the official text.
Data as of: Oct 16, 2026 5:00 PM PDT
02 / In plain English · Brokers & authority
What this rule does.
Tightened financial responsibility rules for freight brokers and freight forwarders. It defines what assets count as “readily available,” allows immediate suspension of operating authority, sets surety and trust duties when a broker fails financially, and addresses enforcement and who may provide BMC-85 trust funds.
- Defines “readily available” assets for BMC-85 trust funds.
- Immediate suspension of broker or forwarder authority.
- Surety and trust responsibilities if a broker or forwarder fails or becomes insolvent.
Official summary from the Federal Register
FMCSA amends the regulations pertaining to financial responsibility requirements for brokers of property and freight forwarders in five separate areas: assets "readily available"; immediate suspension of broker/freight forwarder operating authority; surety or trust responsibilities in cases of broker/freight forwarder financial failure or insolvency; enforcement authority; and entities eligible to provide trust funds for brokers and freight forwarders, which are filed using Form BMC-85, Broker's or Freight Forwarder's Trust Fund Agreement under 49 U.S.C. 13906 or Notice of Cancellation of the Agreement.
Our summary restates the rule’s official abstract. It is not legal advice; the rule text (88 FR 78656) and any later amendments control.
03 / Key dates
Dates to know.
- Published
- Nov 16, 2023
- Effective
- Jan 16, 2024
04 / The record
Document details.
- Federal Register document number
- 2023-25312
- Document type
- Final Rule
- Docket IDs
- Docket No. FMCSA-2016-0102
- Regulation Identifier Number (RIN)
- 2126-AC10
05 / Official source
Read the original.
Read the full text and details of this final rule at the Federal Register.
View on FederalRegister.gov (opens in a new tab)06 / Calendar
Keep the dates in view.
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