U.S. Customs and Border Protection (CBP), together with the U.S. Treasury Department, today released for publication in the Federal Register a final rule that adopts, with changes, proposed amendments (from 2012) to CBP regulations regarding amendments to the in-bond process.
The in-bond process allows imported merchandise to be entered at one U.S. port of entry without appraisement or payment of duties and transported by a bonded carrier to another U.S. port of entry or other authorized destination, as long as all statutory and regulatory conditions are met. Under the final rules, at the destination port, the merchandise is entered or exported, under automation of the in-bond process. This in turn is expected to enhance CBP’s ability to regulate and track in-bond merchandise and to determine that in-bond merchandise is properly entered or exported.
The preamble to the final rule notes that in response to comments to the proposed rule, several changes are made to simplify and facilitate the in-bond process. The final rule is effective 60 days after it is published in the Federal Register, scheduled for September 28, 2017.
Read the final rule [PDF 393 KB]
For more information, contact a professional with KPMG’s Trade & Customs practice:
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