Dmv Ol56 Form – Fill Out and Use This PDF

The DMV OL56 form is an essential document for wholesale-only dealers in California who sell fewer than 25 vehicles per year, as it serves as an application for exemption from the mandatory $50,000 bond required for license renewal. This form, which needs to be completed and returned alongside the renewal notice and fees, allows eligible dealers to forego the bond submission for either a one-year or two-year renewal term. Click the button below to begin filling out your DMV OL56 form and ensure your compliance with California's Department of Motor Vehicles requirements.

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Dmv Ol56 Form PDF Details

In the bustling automotive industry, the State of California's Department of Motor Vehicles provides a unique pathway for wholesale-only dealers aiming to streamline their operational requirements, specifically through the DMV OL56 form. This form serves as a $50,000 bond exemption application, a significant aspect for small-scale wholesale dealers who sell fewer than 25 vehicles per year. The exemption applies not only to regular vehicle sales but also extends to auction sales and direct dealer-to-dealer transactions, thus offering a broad spectrum of relief. Upon successful certification, dealers are exempted from the otherwise obligatory $50,000 bond required for license renewal, a process that can be initiated up to 90 days before the license's expiration date. Exactness in the application process is critical, necessitating detailed entries such as the first and last numbers and dates of the Wholesale Report of Sales from both the current and preceding year of the application. The privilege of this exemption, however, comes with its set of responsibilities and conditions. Dealers are vigilantly monitored by the Department, and surpassing the sale of 25 vehicles within the one-year period without filing a $50,000 bond leads to automatic license cancellation as per Section 11721(b) of the Vehicle Code. Thus, the OL56 form not only facilitates certain wholesalers in alleviating financial burdens but also instills a stringent compliance framework to ensure operational integrity.

Question	Answer
Form Name	Dmv Ol56 Form
Form Length	1 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	15 sec
Other names	licensee, CALIFORNIA, dmv form ol56, ol56

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STATE OF CALIFORNIA

DEPARTMENT OF MOTOR VEHICLES

OCCUPATIONAL LICENSING

A Public Service AgencyATTN: FIRMS UNIT

P.O. BOX 932342 MAIL STATION L-224

SACRAMENTO, CA 94232-3420

$50,000 BOND EXEMPTION APPLICATION

(WHOLESALE-ONLY DEALERS)

FIRM NUMBER

NAME

A Wholesale-Only dealer that sells less than 25 vehicles per year may apply for this exemption. This includes auction sales and direct dealer to dealer sales. This certiﬁcation exempts the licensee from submitting a $50,000 bond that is required to renew their license and must be resubmitted for each renewal period.

To apply for the exemption, complete this form and return it with your renewal notice and fees to the address listed above. Renewals may be applied for 90 days prior to the expiration date of this license.

This exemption is valid for the one-year or two-year renewal term. If you need assistance with your renewal term, you may call Occupational Licensing at (916) 229-3126.

Check the appropriate box.

One-Year Renewal Term

(12-month period)

Two-Year Renewal Term

(24-month period)

Please enter the ﬁrst number, the last number, and dates of the Wholesale Report of Sales used for the renewal period prior to the application date of the renewal. If no vehicles were sold, enter “NONE”.

	FIRST WHOLESALE REPORT OF SALE NUMBER	DATE	Number of Report of Sales Written	___________________
			Number of Report of Sales Written	___________________
1st YEAR			Subtract Voided Report of Sales	___________________
1st YEAR	LAST WHOLESALE REPORT OF SALE NUMBER	DATE	Subtract Voided Report of Sales	___________________
	LAST WHOLESALE REPORT OF SALE NUMBER	DATE	Number of Vehicles Sold at Auction
			Number of Vehicles Sold at Auction
			TOTAL

	FIRST WHOLESALE REPORT OF SALE NUMBER	DATE	Number of Report of Sales Written	___________________
			Number of Report of Sales Written	___________________
2nd YEAR			Subtract Voided Report of Sales	___________________
2nd YEAR	LAST WHOLESALE REPORT OF SALE NUMBER	DATE	Subtract Voided Report of Sales	___________________
	LAST WHOLESALE REPORT OF SALE NUMBER	DATE	Number of Vehicles Sold at Auction
			Number of Vehicles Sold at Auction
			TOTAL

IMPORTANT: Wholesale-Only dealers claiming this exemption are subject to reviews by the department. Failure to ﬁle a $50,000 bond prior to the sale of the 25th vehicle in a one-year period will result in the automatic cancellation of the license per Section 11721(b) of the Vehicle Code.

FIRM NAME					FIRM LICENSE NUMBER

FIRM ADDRESS		CITY	STATE	ZIP CODE	CURRENT TELEPHONE NUMBER
					(	)

TYPE OWNERSHIP
Sole Owner	Partnership	Corporation	Limited Liability Company			Association
OWNER’S NAME(S): Print, use reverse if more than three.						TITLE

I certify (or declare) under penalty of perjury under the laws of the State of California that the foregoing is true and correct.

Must be signed by a sole owner, all partners, a corporate ofﬁcer, a limited liability company member/manager, or association

member of record.

SIGNATURE

TITLE

DATE

X
SIGNATURE	TITLE	DATE
X

OL 56 (REV. 3/2007) WWW

*13OL56*

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In an effort to complete this form, make certain you enter the necessary details in every single blank field:

1. For starters, while filling out the ol 56, beging with the area that has the subsequent fields:

ol 257 conclusion process described (portion 1)

2. The next part is usually to fill out these particular fields: nd YEAR, FIRST WHOLESALE REPORT OF SALE, DATE, LAST WHOLESALE REPORT OF SALE, DATE, Number of Report of Sales Written, TOTAL, Number of Report of Sales Written, TOTAL, IMPORTANT WholesaleOnly dealers, FIRM NAME, FIRM ADDRESS, TYPE OWNERSHIP, CITY, and FIRM LICENSE NUMBER.

The right way to fill in ol 257 portion 2

People who work with this document frequently get some things wrong while filling out TYPE OWNERSHIP in this area. You need to read again whatever you enter here.

3. This subsequent segment is generally relatively easy, I certify or declare under penalty, SIGNATURE X SIGNATURE X, OL REV WWW, TITLE, TITLE, DATE, and DATE - each one of these empty fields will need to be completed here.

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Dmv Ol56 Form – Fill Out and Use This PDF

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