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Info Collections on Rough Diamonds, Commodity Imports Under Review

Wednesday, July 16, 2014
Sandler, Travis & Rosenberg Trade Report

The Treasury Department’s Office of Foreign Assets Control is accepting through Sept. 8 comments on the proposed extension without change of the requirement to report information about the shipment of rough diamonds on an ongoing and annual basis. The ultimate consignee of a rough diamond shipment (identified on the entry summary, Customs Form 7501) is required to report specified information about the shipment to the foreign exporting authority within 15 calendar days of the date the shipment arrived at a U.S. port of entry. In addition, persons who import rough diamonds into, or export them from, the U.S. are required to file an annual report identifying total rough diamond import and/or export activity during the reporting year as well as information on stockpiles of rough diamonds, if any, as of the end of the reporting year.

The Department of Agriculture’s Agricultural Marketing Service is soliciting comments through Aug. 13 on form FV-6, Importer’s Exempt Commodity Form. The information collected on this form includes information on the imported product (type of product and lot identification), the importer’s contact information, the U.S. Customs entry number, inspection date, and intended use (processing, charity, livestock/animal feed). AMS utilizes this information to ensure that imported goods destined for exempt outlets are given no less favorable treatment than that afforded to domestic goods destined for such exempt outlets.

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