What is RCRA financial assurance and who needs it?
All owners and operators of facilities that treat, store, or dispose of hazardous waste are required to provide proof that they will have sufficient funds to pay for the clean up, closure, and post-closure care of their facilities. They also must demonstrate that they have sufficient funds to pay for the clean up of any accidental releases of hazardous constituents during the active life of their facilities, and compensate any third parties for any resulting bodily injury or property damage. The regulations for these demonstrations, referred to as “financial assurance,” are found in the Code of Federal Regulations (CFR) at 40 CFR Parts 264/265, Subpart H Financial Requirements (Part 264 applies to permitted facilities and Part 265 applies to interim status facilities). These regulations outline how hazardous waste treatment, storage, and disposal facility (TSDF or TSD) owner/operators should determine cost estimates, the acceptable mechanisms for demonstrating financial assurance, and
