Putting a Medallion in Storage (60 Days)

In short: To take a yellow taxi off the road for a while, you put the medallion and rate card into storage by emailing TLC's Medallion Storage Receipt form to operationsm@tlc.nyc.gov. TLC's page allows storage for up to 60 days. While stored, the medallion shows as "suspended" and the taxi can't work. To come out, you email documents (if you kept your plates) or book a Long Island City appointment (if you surrendered plates or got a new car). Watch the 60-day mark: the form warns that a medallion unused for 60 consecutive days can face revocation.

Storage is also something TLC's rules require in some situations, such as before a sale. This guide covers both.

How storage works

Agents storing a medallion they manage must add a statement on their own letterhead that they are still the owner's agent. An agent who is no longer the agent must say so and give the owner's home address, phone and email (storage form).

The 60-day limit and revocation

TLC's page says licensees can store "for up to 60 days". The storage form explains why: Admin Code §19-504(g) "allows for the revocation of any license that has not been operating for sixty (60) consecutive days", and if credentials stay in storage more than 60 consecutive days, "the Agency can move to revoke your medallion unless you can show that the medallion cannot be used due to reasons beyond your control" (storage form).

In practice: write a clear, true reason on the form, keep proof (repair invoices, medical letters, loan or estate papers), and contact TLC before day 60 if you can't come out in time. If revocation is threatened, talk to a lawyer.

OFS counted 3,885 medallions in storage at the end of 2024, down from 4,298 in January 2024 (OFS 2024). More data: medallion transfers, foreclosures and storage.

Common situations

Your car needs a long repair. If the taxi will be off the road for 30 days or more, rule 58-11(e)(3) says to surrender the medallion and rate card before you take it out of service, so storage is the right step, not just an option. Keep the shop's invoice and estimated finish date; that is your "reason beyond your control" if the repair runs past 60 days. If the car can't be fixed, you will come out with a new car, which means a Long Island City appointment and an accessible replacement.

You are travelling or sick. Storage stops the medallion working, but it doesn't pause your other duties: renewal dates, the annual disclosure and inspections still come due. If you lease the medallion to drivers, think about whether they can keep working instead; idle months also earn no lease income.

You have no driver. Storage avoids running an uninsured or uninspected taxi, but 60 days goes fast. Use the time to find a driver; see how to start driving a yellow taxi for where drivers come from and DOV leases for the lease options.

You are selling. The medallion must be in storage at least seven days before the transfer (58-46(a)), and all open items, including summonses, fines, renewal requirements and violations on your TLC Driver License, must be cleared (58-46(b)). Start clearing them before you store.

The lender foreclosed. The lender must store the medallion (58-46(c)). If that is happening to you, get legal advice right away.

When the rules require storage

Storage isn't only a choice. Chapter 58 sends a medallion to storage in these cases (chapter 58):

• Off the road 30+ days. An owner must surrender the medallion and rate card before removing the taxi from service for 30 or more consecutive days (58-11(e)(3)), and within 48 hours of notice of a suspension or revocation (58-11(e)(1)). Fine: $200 if you plead guilty, $300 after a hearing.
• Before a sale. A medallion must sit in storage for at least seven days before it can be transferred (58-46(a)), unless the deal is a sale of company stock or LLC interests. See buying a medallion.
• Foreclosure. A lender that takes a medallion through foreclosure or repossession must put it in storage (58-46(c)).
• Unsafe vehicle. If TLC finds the taxi unsafe and orders it off the road, the medallion and rate card go to storage and the license is summarily suspended (58-30(c)).
• Owner dies. If no one is approved to operate the medallion within 120 days, it must go into storage until an administrator or new owner qualifies (58-48).

Coming out of storage

The storage form also lists a workers' compensation certificate or exemption letter for new medallion owners. If your car changed, you are doing a vehicle certification as well; follow how to hack up a yellow taxi, and remember every new hack-up must be accessible.

Before you store: costs that keep running

• Inspections. Taxis are inspected three times a year. If your car missed its cycle while stored, the storage form asks for a current inspection report when you come out. A late inspection can bring a 58-29(b) summons with fines from $100 and suspension.
• Renewal. The medallion still expires on schedule (May 30/31 of the renewal year). See the renewal guide.
• Financial disclosure. OFS says you must file the annual disclosure even if the medallion is in storage (how to file).
• TIF payments. A stored accessible taxi makes no trips, so it misses the 750-trip quarterly minimum; see TIF grants.
• E-ZPass and insurance. Owners must keep an E-ZPass account (58-27(a)); check with your broker before cancelling insurance, because you need a fresh certificate to come out. See E-ZPass payment options.

Medallion storage vs FHV license storage

FHV details: FHV license storage program. The rate card goes into storage with the medallion. More on the medallions hub.