Industries

April 2008

McGladrey & Pullen’s renewable fuels team has confirmed the Environmental Protection Agency (EPA) will not be issuing an extension or correction of the final Renewable Fuel Standard (RFS) regulations. The May 31, 2008 filing deadline for Renewable Identification Number (RIN) reports for producers and non-obligated parties, as defined in the regulations, is not expected to change. Therefore, it’s important for your company to schedule these attest procedures as soon as possible if you have not already done so.

Confusion has existed around this deadline because the presentation and other ancillary guidance issued by the EPA stated the attestation provisions related to annual RINs reports were extended for all filers until May 2009 (the filing date of the 2008 attestation report). However, this contradicts RFS regulations, which state the extension only applied to “obligated parties.” Other filers, otherwise referred to as “producers” and “non-obligated parties” in the RFS regulations, are omitted from this extension and should file by the end of May 2008.

With the first annual RIN report due next month, the McGladrey & Pullen renewable fuels team has designed effective and efficient attestation procedures that are in compliance with the RFS regulations. Our team has shared sample reporting with the EPA to ensure proper documentation and agreed upon procedures are followed. 

Use our experience to your advantage
The McGladrey & Pullen renewable fuels team is focused on serving the renewable fuels industry. We work with ethanol and biodiesel producers, as well as other industry leaders and stakeholders, to help shape the rapidly changing environment. This team understands the unique industry characteristics and has the experience necessary to address this RFS compliance issue and other industry-specific questions that may arise.

If you would like to set up an appointment with a McGladrey & Pullen advisor to discuss this issue, contact Lance Massmann at 605.575.0508 or lance.massmann@rsmi.com.

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RSM McGladrey (www.rsmmcgladrey.com) is a leading professional services firm providing accounting, tax and business consulting. RSM McGladrey operates in an alternative practice structure with McGladrey & Pullen LLP, a partner-owned CPA firm that delivers audit and attest services. Though separate and independent legal entities, they work together to serve clients’ business needs.