When is an owner/operator no longer required to maintain financial responsibility for a UST?

An owner/operator is no longer required to maintain financial responsibility for a UST when the facility is properly permanently closed. This is critical because financial responsibility requirements are designed to ensure that funds are available to address any potential environmental damage or contamination that could arise from the operation of the underground storage tank.

When a facility is permanently closed following the appropriate regulations, it signifies that it has completed all required closure procedures, including the removal of the tank or the filling of the tank with appropriate materials. This closure process typically includes ensuring that any remaining fuel is properly disposed of, any contamination is addressed, and the site is in compliance with environmental regulations. Once the facility is closed and no longer poses a risk of release that could necessitate financial coverage, the obligation for financial responsibility ceases.

In contrast, major upgrades, changes in ownership, or switching to a different type of storage do not exempt an owner/operator from maintaining financial responsibility. Upgrades may still pose risks that require financial measures, ownership changes often don’t alleviate past responsibilities, and merely changing the type of storage doesn’t mitigate the need for environmental protection and responsibility.