---
kind: "section"
citation: "49 U.S.C. § 14123"
title: "49"
title_heading: "Transportation"
number: "14123"
heading: "Financial reporting"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/49/14123"
units:
  - "Subtitle IV — Interstate Transportation"
  - "Part B — Motor Carriers, Water Carriers, Brokers, and Freight Forwarders"
  - "Chapter 141 — Operations of Carriers"
  - "Subchapter II — Reports and Records"
---

# §14123. Financial reporting

- (a) **Reports.—**
  - (1) **Annual reports.—** The [Secretary](/usc/49/13102.md?p=20) shall require Class I and Class II [motor carriers](/usc/49/13102.md?p=14) to file with the [Secretary](/usc/49/13102.md?p=20) annual financial and safety reports, the form and substance of which shall be prescribed by the [Secretary](/usc/49/13102.md?p=20); except that, at a minimum, such reports shall include balance sheets and income statements.
  - (2) **Other reports.—** The [Secretary](/usc/49/13102.md?p=20) may require [motor carriers](/usc/49/13102.md?p=14), [freight forwarders](/usc/49/13102.md?p=8), [brokers](/usc/49/14121.md?p=1), lessors, and [associations](/usc/49/14121.md?p=2), or classes of them as the [Secretary](/usc/49/13102.md?p=20) may prescribe, to file quarterly, periodic, or special reports with the [Secretary](/usc/49/13102.md?p=20) and to respond to surveys concerning their operations.
- (b) **Matters To Be Covered.—** In determining the matters to be covered by any reports to be filed under [subsection (a)](#a), the [Secretary](/usc/49/13102.md?p=20) shall consider—
  - (1) safety needs;
  - (2) the need to preserve confidential business information and trade secrets and prevent competitive harm;
  - (3) private sector, academic, and public use of information in the reports; and
  - (4) the public interest.
- (c) **Exemptions.—**
  - (1) **From filing.—** The [Secretary](/usc/49/13102.md?p=20) may exempt upon good cause shown any party from the financial reporting requirements of [subsection (a)](#a). Any request for such exemption must demonstrate, at a minimum, that an exemption is required to avoid competitive harm and preserve confidential business information that is not otherwise publicly available.
  - (2) **From public release.—**
    - (A) **In general.—** The [Secretary](/usc/49/13102.md?p=20) shall allow, upon request, a filer of a report under [subsection (a)](#a) that is not a publicly held corporation or that is not subject to financial reporting requirements of the Securities and Exchange Commission, an exemption from the public release of such report.
    - (B) **Procedure.—** After a request under [subparagraph (A)](#c-2-A) and notice and opportunity for comment but in no event later than 90 days after the date of such request, the [Secretary](/usc/49/13102.md?p=20) shall approve such request if the [Secretary](/usc/49/13102.md?p=20) finds that the exemption requested is necessary to avoid competitive harm and to avoid the disclosure of information that qualifies as a trade secret or privileged or confidential information under [section 552(b)(4) of title 5](/usc/5/552.md?p=b-4).
    - (C) **Use of data for internal dot purposes.—** If an exemption is granted under this paragraph, nothing shall prevent the [Secretary](/usc/49/13102.md?p=20) from using data from reports filed under this subsection for internal purposes of the Department of [Transportation](/usc/49/10102.md?p=9) or including such data in aggregate industry statistics released for publication if such inclusion would not render the filer’s data readily identifiable.
    - (D) **Pending requests.—** The [Secretary](/usc/49/13102.md?p=20) shall not release publicly the report of a [carrier](/usc/49/14121.md?p=1) making a request under [subparagraph (A)](#c-2-A) while such request is pending.
  - (3) **Period of exemptions.—** Exemptions granted under this subsection shall be for 3-year periods.
- (d) **Streamlining and Simplification.—** The [Secretary](/usc/49/13102.md?p=20) shall streamline and simplify, to the maximum extent practicable, any reporting requirements the [Secretary](/usc/49/13102.md?p=20) imposes under this section.

## Source credit

(Added Pub. L. 104–88, title I, § 103, Dec. 29, 1995, 109 Stat. 893; amended Pub. L. 105–102, § 2(11), Nov. 20, 1997, 111 Stat. 2205.)

## Notes

### Historical and Revision Notes

### Pub. L. 105–102

This amends 49:14123(c)(2)(B) to correct a grammatical error.

### Editorial Notes

### Prior Provisions

Provisions similar to those in this section were contained in section 11145 of this title prior to the general amendment of this subtitle by Pub. L. 104–88, § 102(a).

### Amendments

1997—Subsec. (c)(2)(B). Pub. L. 105–102 inserted “in” before “no event”.

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective Jan. 1, 1996, except as otherwise provided in Pub. L. 104–88, see section 2 of Pub. L. 104–88, set out as a note under section 1301 of this title.