Search Benefits

Capital Construction Fund Program Benefits

Program Description

The Capital Construction Fund (CCF) Program enables fishermen to construct, reconstruct, or under limited circumstances, acquire fishing vessels with before-tax, rather than after-tax dollars. The program allows fishermen to defer tax on income from the operation of their fishing vessels. Under the CCF Program, the amount accumulated by deferring tax on fishing income, when used to help pay for a vessel project, is in effect, an interest free loan from the government.

General Program Requirements

Any U.S. citizen is eligible who owns or leases a U.S. built fishing vessel of at least two net tons and has an acceptable program for constructing, reconstructing, or acquiring a fishing vessel of at least two net tons. The term "fishing vessel" includes vessels used commercially in the fisheries of the U.S. for catching, transporting, and processing fish. Also included are commercial passenger-carrying vessels used for fishing parties.

Your Next Steps

The following information will lead you to the next steps to apply for this program.

Application Process

Applications are accepted at any time. However, to be applicable to any given tax year, a CCF agreement must be executed and entered on or before the due date (with extensions) for filing your Federal tax return for that tax year. Send the filled out CCF Application to the address listed in the Application Information Cover Letter.

Please visit the Application Instructions page for additional information about applying for this Program.

Program Contact Information

For more information, visit the Capital Construction Fund Program page.

You may also contact:
CCF Program, Financial Services Division (F/MB5)
National Marine Fisheries Service
1315 East West Highway
Silver Spring, MD 20910