Due diligence checklist for buying a trucking company
Due diligence is the window between signing a letter of intent and closing. It’s when you confirm the company is what the seller says it is. With MCDOT Sales, that window is 14 days and your deposit is refundable until it ends. Use this checklist so nothing gets missed.
1. Legal entity and ownership
- Articles of organization (LLC) or incorporation (corporation).
- Operating agreement or bylaws, showing who owns the company and who can sign for it.
- Certificate of good standing from the state.
- Confirmation it isn’t a sole proprietorship. A sole proprietor’s USDOT number can’t go with a sale.
- The company’s EIN letter from the IRS.
2. FMCSA records
- USDOT and MC status on SAFER: active and authorized for property, for-hire.
- Authority grant date, which is the company’s real age.
- Safety rating.
- Inspections, out-of-service rates and crashes for the last 24 months.
- MCS-150 up to date (updated at least every 24 months).
- BOC-3 process agent on file.
- Insurance filings on L&I, including any cancellations or lapses.
See how to check a carrier on FMCSA SAFER for a step-by-step walkthrough.
3. Insurance
- Current policies and declarations pages.
- Loss runs for the last 3 to 5 years, or since the company started.
- Any open claims.
4. Money owed and legal risk
- UCC lien search with the state.
- Court and lawsuit search in the company’s state and county.
- Federal and state tax standing, including IRS Form 2290 (heavy vehicle use tax) if trucks ran under the company.
- Factoring agreements. Make sure any factoring company has been paid off and released.
- IFTA and IRP accounts, if used.
- UCR paid for the current year.
The purchase agreement should state that liabilities from before closing stay with the seller. Have your own attorney review it.
5. Operations, if the company ran trucks
- Driver qualification files and drug and alcohol testing records.
- Hours-of-service and ELD records.
- Maintenance records for any trucks included.
- Titles and loan payoffs for equipment.
- Broker setups, load board accounts and Amazon Relay access, plus whether they will stay active after the change of ownership.
6. Before you release the deposit
If anything doesn’t check out, raise it before your due diligence period ends. Every MCDOT Sales deposit is held by Escrow.com, never by us, so it’s protected while you check. Ready to look? Browse listings.
Frequently asked questions
How long is due diligence when buying a trucking company?
With MCDOT Sales it’s 14 days from your letter of intent. Your deposit is refundable until that period ends.
What documents should I ask the seller for?
Formation documents, the operating agreement, a certificate of good standing, insurance loss runs, a lien search, tax standing, and any factoring, IFTA, IRP or UCR records.
Can I see the MC and USDOT numbers before I buy?
Yes. After you sign an NDA, we share them so you can check every record on FMCSA SAFER yourself.
Next step
Every listing shows inspections, out-of-service rate and crashes up front.
This guide is general information, not legal or tax advice. Have your own attorney review any purchase agreement.