Enforcement of New Foreign Trade Regulations Delayed 180 Days

As outlined in our April Shap Talk, new export regulations went into effect on April 5, 2014. These updated regulations encompass reporting an ultimate consignee type, reporting a license value, and declarations for used self-propelled vehicles, port of export, split shipments, post-departure, and household goods. Certain exemptions for Electronic Export Information (EEI) data have been added and others removed. Currently the U.S. Census Bureau is working with U.S. Customs and Border Protection and the Bureau of Industry and Security on how the Carnet and Temporary Importation Bond exemptions will be handled moving forward.

Both Customs and Census have agreed to delay enforcement of these new regulations for a period of 180 days. No penalties will be issued for violation of the new regulations until October 2, 2014. CBP and Census will use this six month period to continue to educate the public on the new rules.

If you have any questions about the new regulations, please contact us at compliance@shapiro.com.