---
kind: "section"
citation: "27 C.F.R. § 24.160"
title: "27"
number: "24.160"
heading: "Application to terminate bond by existing proprietor who becomes exempt from bond requirements."
url: "https://uscodex.org/cfr/27/24.160"
---

# §24.160. Application to terminate bond by existing proprietor who becomes exempt from bond requirements.


If a proprietor has held a bond or bonds covering operations or withdrawals of wine for nonindustrial use and becomes exempt from those bond requirements as provided under [§ 24.146(d)](/cfr/27/24.146.md?p=d), the proprietor may apply to TTB to terminate the bond or bonds covering such operations or withdrawals. To apply, the proprietor must file an amended application as provided in [§ 24.132](/cfr/27/24.132.md). The proprietor must accurately state in the submission that the proprietor:

- (a) Will withdraw wine for deferred payment of tax under [§ 24.271](/cfr/27/24.271.md);
- (b) Reasonably expects to be liable for not more than $50,000 in taxes with respect to wine imposed by 26 U.S.C. [5041](/usc/26/5041.md) and [7652](/usc/26/7652.md) for the current calendar year (see definition of “Reasonably expects” in [§ 24.271(b)(1)(iv)(B)](/cfr/27/24.271.md?p=b-1-iv-B)); and
- (c) **Was liable for not more than $50,000 in such taxes in the preceding calendar year.**

## Notes

### Amendments

[T.D. TTB-146, 82 FR 1125, Jan. 4, 2017]

### Authority

Authority: 5 U.S.C. 552(a); 26 U.S.C. 5001, 5008, 5041, 5042, 5044, 5061, 5062, 5121, 5122-5124, 5173, 5206, 5214, 5215, 5351, 5353, 5354, 5356, 5357, 5361, 5362, 5364-5373, 5381-5388, 5391, 5392, 5511, 5551, 5552, 5661, 5662, 5684, 6065, 6091, 6109, 6301, 6302, 6311, 6651, 6676, 7302, 7342, 7502, 7503, 7606, 7805, 7851; 31 U.S.C. 9301, 9303, 9304, 9306.

### Source

Source: T.D. ATF-299, 55 FR 24989, June 19, 1990, unless otherwise noted.

### Amendments

[T.D. TTB-146, 82 FR 1125, Jan. 4, 2017]