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Compliance

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Jan05

2019 DOCUMENTARY FEE: $179.81

Categories // Compliance

The maximum allowable documentary fee for 2019 will be $179.81. The "doc fee" is subject to Retailers' Occupation Tax as part of the gross receipts from the sale of a vehicle.
 
Pursuant to Section 11.1 of the Motor Vehicle Retail Installment Sales Act (815 ILCS 375/11.1), every retail installment contract under the Act shall contain or be accompanied by a notice containing the following information:
 
"DOCUMENTARY FEE. A DOCUMENTARY FEE IS NOT AN OFFICIAL FEE. A DOCUMENTARY FEE IS NOT REQUIRED BY LAW, BUT MAY BE CHARGED TO BUYERS FOR HANDLING DOCUMENTS AND PERFORMING SERVICES RELATED TO CLOSING OF A SALE. THE BASE DOCUMENTARY FEE BEGINNING JANUARY 1, 2008, WAS $150. THE MAXIMUM AMOUNT THAT MAY BE CHARGED FOR A DOCUMENTARY FEE IS THE BASE DOCUMENTARY FEE OF $150 WHICH SHALL BE SUBJECT TO AN ANNUAL RATE ADJUSTMENT EQUAL TO THE PERCENTAGE OF CHANGE IN THE BUREAU OF LABOR STATISTICS CONSUMER PRICE INDEX. THIS NOTICE IS REQUIRED BY LAW."
 
Please note that if your dealership is operating under a Consent Decree related to documentary fees, the Consent Decree may have requirements in addition to those set forth in the above law.

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  • Posted: Thursday, 05 January 2017

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