If you find a mistake in the TTB Report (5120.17) after you’ve filed it, you’ll need to file an amended report.
- Identify and correct the error.
You’ll need to have the Can Backdate into a Closed Off TTB702 Period permission.
For example, suppose you filed your quarterly 5120.17 and found that wine was Removed in Bond when it should have been tax-paid. In this example, you’ll need to reverse the dispatch and re-enter the wine as Removed Tax-Paid as of the original operation date.
- Re-run the TTB Report for the timeframe being sure to select Amended from the Version list. You’ll also need to select the I Plan to Submit this 702 to the TTB checkbox.
In our example, the gallons that were previously reported as Removed in Bond will be moved to the Removed Tax Paid line (either bulk or bottled). You can compare the amended report to your copy of the obsolete 5120.17.
- Finalize and submit the report as normal.
Errors Prior to Last Report Period
If you need to fix errors on the 5120.17 for periods prior to the last reporting period, you may need to generate and submit amended reports for all intervening periods as well.
For example, suppose you file monthly and discover an error from 4 months ago. In our example, suppose it’s June and the error occurred in February. You would need to amend February to reflect the correction and the new ending balance. You may also need to amend March through May to true up your ending and beginning balances.
We also suggest that you run the 5120.17 for the current period to ensure that your new ending balances from the amended 5120.17 match with the beginning balances for the current period.