Document: NRC Regulatory Guide
Document ID: 8ebf2253-f3d2-4bcd-ac80-7cbf6ab8d420
Document Type: regulatory_guide
Title: Assuring the Availability of Funds for Decommissioning Nuclear Reactors + HISTORY –HISTORY 02/2022 – DG-1348 Revision 1, Proposed Revision 3 06/2018 – DG-1348 , Proposed Revision 3 11/2016 – Periodic Review of Revision 2 – Reviewed with no issues identified 01/2011 – DG-1229 , Proposed Revision 2 05/2001 – DG-1106 , Proposed Revision 1 05/1989 – DG-1003 , Proposed Revision 0 (Rev. 1)
Source: NRC Regulatory Guide Division 1
Source URL: https://www.nrc.gov/docs/ML2134/ML21347A081.pdf
Revision Date: 2023-05
Chapter: 
Section ID: RG-1.159
CFR Part: 
CFR Title: 

Content:
reater protection in bankruptcy than the escrow or certificate of deposit. 2.2.2 The following key provisions should be included in the trust instrument (or, when relevant, in the escrow or government fund agreement) to ensure that it is acceptable to the NRC: 2.2.2.1 The trust agreement should state the purpose of the trust, and the nuclear facility must be identified. An acceptable statement of purpose is the statement required for a trust agreement to qualify as a Nuclear Decommissioning Reserve Fund under Section 468A of the Internal Revenue Code. 2.2.2.2 The trust agreement should specify that the trust fund is established for the benefit of the licensee of the facility and/or the NRC, but only to the extent, in the case of the NRC, that the provisions of 31 U.S.C. 3302(b) would not be applicable. More than one licensee may be identified. A single trust agreement may establish two or more Nuclear Decommissioning Funds when a nuclear power plant is owned by two or more licensees. 2.2.2.3 The trust agreement should specify the obligations of the trustee and, if applicable, the investment manager with respect to investments, specifically for nonelectric utilities, as described below under Regulatory Position C.2.2.3. 2.2.2.4 The trust agreement should specify the circumstances under which payments will be made from the trust. It must provide that no disbursements or payments may be made from the trust by the trustee, other than for payment of ordinary administrative expenses (examples of ordinary administrative expenses are set out in the Internal Revenue Code, Section 468A) or withdrawals pursuant to 10 CFR 50.82(a)(8) or 10 CFR 52.110(h)(1), until the licensee has first given the NRC 30 working days prior written notice, and that no disbursements or payments from the trust may be made if the licensee receives prior written notice of objection from the Director, Office of Nuclear Reactor Regulation, or the Director, Office of Nuclear Material Safety and