Bee On Trade

Prior Disclosure


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What is a prior disclosure in import trade?

A prior disclosure in import trade refers to a voluntarily reported violation(s) that occurred before an official investigation was initiated.

What are the typical obligations associated with prior disclosures?

Many prior disclosures involve agreeing to forfeit obligations related to the infractions.

What should an importer do once a prior disclosure is made?

The importer should review each error that occurred over the prior five years.

How much time does CBP have to review older entries in a prior disclosure?

The amount of time CBP has to review older entries is critical for compliance.

What are common issues covered in past disclosures?

Common past disclosures include wrongly disclosed free trade agreements, undervaluation, incorrect country of origin, and misclassification.

Why is it advisable to have a trade advisor or attorney evaluate a prior disclosure before submission?

It's recommended to have an expert evaluate the submission to ensure there are no hidden infractions that CBP might discover.

What are the potential consequences of submitting a prior disclosure without a thorough review?

Submitting a prior disclosure without checking for additional probable violations can expose you to fines that lack the same protections as a prior disclosure.

Why should one consider submitting a prior disclosure?

Submitting a prior disclosure demonstrates to customs that you are taking reasonable care and may help lower potential penalties if CBP discovers the mistakes independently during an audit.

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