Temporary Exemptions for Carnets and TIBs reinstated by Census

The Census Bureau’s Foreign Trade Division (FTD) is announcing the publication of an Interim Final Rule revising the Foreign Trade Regulations (FTR), Title 15, Part 30. This rule reinstates the previous filing exemptions in Sections 30.37(q) and (r) of the FTR for temporary exports, including carnets, and goods that were imported under a Temporary Import Bond (TIB) for return in the same condition as when imported.

After several comments from the trade and the exporting community regarding the difficulty the loss of these temporary exemptions imposed, U.S. Customs and Border Protection (CBP), the Bureau of Industry and Security (BIS), and Census worked together to have these exemptions reinstated. This rule is effective immediately, September 12, 2014.

The Census Bureau and CBP will continue to review these exemptions and may publish a Notice of Proposed Rulemaking to address temporary exports, carnets, and TIBs in the future.

Shapiro will continue to closely monitor these ongoing negotiations and advise you of any important updates.