Trade Updates

We’re more than just brokers – we’re knowledge leaders. Stay compliant with Customs, and save on your bottom line with recent updates here.

Informed Compliance Period for Foreign Trade Regulations to End Soon

Posted September 08, 2014

On March 14, 2013, the U.S. Census Bureau (Census) published a Final Rule amending the Foreign Trade Regulations (FTR) contained in 15 CFR Part 30. The final rule established the requirement, effective April 5, 2014, for mandatory filing of export information through the Automated Export System (AES) or through AESDirect for all shipments of used self-propelled vehicles and temporary exports.

U.S. Customs and Border Protection (CBP) established a 180 day Informed Compliance period, effective from April 5, 2014 through October 2, 2014 “to educate the trade the trade on the new requirements.”

Once the informed Compliance period ends as scheduled on October 2, 2014, exporters should be aware that penalties may be issued for violations of the new FTR requirements such as:

  • New EEI data elements – Ultimate Consignee Type and License Value
  • Removal of the EEI filing exemptions for some temporary imports and exports
  • Reduction of the post-departure filing time frame from ten calendar days to five calendar days
  • Expanded EEI data element - Foreign Trade Zone (FTZ) Identifier

Click here for additional information on the FTR.