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Entry Summary, Bonded Warehouse Forms, Repair Declaration Under Review

Tuesday, April 22, 2014
Sandler, Travis & Rosenberg Trade Report

U.S. Customs and Border Protection is accepting comments through June 23 on the proposed extension without change of the following information collections.

CF 7501, Entry Summary – This form is used to identify merchandise entering U.S. commerce and to document the amount of duty and/or tax paid. It must be submitted by the importer, or the importer’s agent, for each import transaction within 10 working days from the time of entry of merchandise into the U.S. The data on this form is used by CBP as a record of the import transaction; to collect the proper duties, taxes, certifications and enforcement information; and to provide data to the Census Bureau for statistical purposes.

Bonded Warehouse Regulations – Owners or lessees desiring to establish a bonded warehouse must make written application to the CBP port director where the warehouse is located. The application must include the warehouse location, a description of the premises and an indication of the class of bonded warehouse permit desired. Alterations to or relocation of a bonded warehouse within the same CBP port may be made by applying to the CBP port director of the port in which the facility is located.

Declaration of Person Who Performed Repairs – This declaration is used in connection with the entry of articles under HTSUS 9802.00.40 and 9802.00.50 as articles that were in the U.S. and were exported temporarily for repairs. Upon the return of such goods, duty is only assessed on the value of the repairs performed abroad and not on the full value of the article. This declaration includes information such as a description of the article and the repairs, the value of the article and the repairs, and a declaration by the owner, importer, consignee or agent having knowledge of the pertinent facts.

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