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Reminder: U.S. entities to report defense-related contract information

U.S. entities to report defense-related contract

The U.S. Commerce Department’s Bureau of Industry and Security today released for publication in the Federal Register a notice to remind U.S. firms of the requirement to report annually information on certain contracts for the sale of defense articles or defense services exceeding $5 million in value to foreign countries (or foreign firms).

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The Commerce BIS notice [PDF 369 KB] also reminds U.S. firms to report annually information on offsets transactions completed in performance of existing offsets commitments for which offsets credit of $250,000 or more has been claimed from the foreign representative. This year, these reports must include relevant information from calendar year 2017 and must be submitted no later than 15 June 2018.

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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