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U.S. Department of Homeland Security Customs and Border Protection

U.S. Department of Homeland Security Customs and Border Protection. What is needed to begin Importing into the United States?. Importer Identification Number Bond U.S. Brokerage Firm. Importer identification number. Only the following formats shall be used:

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U.S. Department of Homeland Security Customs and Border Protection

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  1. U.S. Department of Homeland Security Customs and Border Protection

  2. What is needed to begin Importing into the United States? • Importer Identification Number • Bond • U.S. Brokerage Firm

  3. Importer identification number • Only the following formats shall be used: • IRS EIN NN-NNNNNNN • IRS EIN with suffix NN-NNNNNNNXX • SSN NNN-NN-NNNN • CBP assigned number YYDDPP-NNNNN

  4. Why is an Importer Identification Number required? • The number, name, and address conveyed to CBP via a CBP form 5106 is the basis for: • Establishing bond coverage • Release and entry of merchandise • Liquidation • Issuance of Bills and Refunds • Processing of Drawback • Fines Penalties & Forfeiture (FP&F) actions

  5. Who is the Importer of Record? • “ Importer of Record” is defined as the owner or purchaser of the goods, or when designated by the owner, purchaser, or consignee, a licensed CBP broker.

  6. “Owner” and “Purchaser” • The terms “owner” and “purchaser” include any party with a financial interest in a transaction, such as: • The actual owner of the goods • The actual purchaser of the goods • A buying or selling agent • A person or firm who imports on consignment • A person or firm who imports under loan or lease • A person or firm who imports for exhibition at a trade fair • A person or firm who imports goods for repair or alteration or further fabrication, etc.

  7. Who is the Ultimate Consignee? • The Ultimate Consignee at the time of entry or release is defined as the party in the United States, to whom the overseas shipper sold the imported merchandise. • The Ultimate Consignee at the time of entry summary is defined as the individual or firm purchasing the merchandise or, if a consigned shipment, to whom the merchandise is consigned.

  8. Why is a CBP 301 bond necessary? • The purpose of the bond is to protect the revenue and ensure compliance. Examples include filing of the entry summary with monies owed CBP, redelivery of merchandise, marking, proper recordkeeping, etc.

  9. BONDS 2 Kinds of Bonds Single Transaction Bond (Type 9) Not less than the total entered value plus all duties, taxes and fees. Continuous Bond (Type 8) - Minimum Bond Amt = $50,000. 10% of duties, taxes & fees paid in previous 12 months. Parties on a bond Principal – Surety – Beneficiary (CBP)

  10. Most Common Bond Types • Activity 1- Importer or Broker • Activity 1a- Drawback Payment Refunds • Activity 2- Custodian of Bonded Merchandise • Activity 3- International Carrier • Activity 3a- Instruments of International Traffic • Activity 4- Foreign Trade Zone Operator

  11. Resources • Research CBP issues or to locate brokers utilize http://CBP.gov • CBP 301 Bonds- Revenue Division via email to cbp.bondquestions@dhs.gov or via fax to (317) 614-4517 • CBP authorized surety companies at https://www.fms.treas.gov/c570/index.html

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