DB Schenker’s Import Compliance Team helps importers navigate the complexities of customs requirements, minimize the risks of non-compliance, and maximizing opportunities for duty reductions.
The Customs Modernization Act of 1993 shifted the burden for entry accuracy from U.S. Customs to the importer of record. We can help you with:
Import Compliance Audits – Building a compliance program starts with a review of the current compliance environment and evaluating past transactions. Conducting an audit not only serves the purpose of identifying weaknesses in compliance, but also creates the platform from which to strategize for opportunities. Audit results reveal areas of a compliance program that require strengthening. The results also highlight areas that an importer might consider that may yield a reduction in duties.
Foreign Trade Zones – A foreign trade zone (FTZ) program may create savings in the CBP merchandise processing fee (MPF) by consolidating to a weekly entry. Duty payment may be delayed until merchandise is withdrawn from the FTZ, or not paid at all if the goods are exported. Schenker’s services can assist you through operational capabilities in our facilities or administrative services for operations in your facilities.
Duty Drawbacks – Duty drawback provides an opportunity to recover duties that were previously paid on goods that are exported. Whether you export merchandise that was not used after importation, or are engaged in an assembly or manufacturing process that includes imported components, you may be eligible to claim a refund on the duty that was originally paid. This process requires a Duty Drawback bond.
Reconciliation Entry Program – CBP recognizes that for some scenarios an importer’s transactions contain unknown elements at the time of importation. Transfer pricing and royalty payments are just two reasons why the final value of an import shipment may not be known at the time the entry summary is finalized. To maintain compliance, CBP offers importers the reconciliation entry program in which the original entry is made with the information known at the time of filing. The entries are then reconciled at a later date with the final value determination. Importers may also participate in the reconciliation entry program for certain free trade agreements, allowing for a streamlined post-summary claim for benefits at a later time when eligibility is ultimately determined.
Import Compliance Consulting – DB Schenker offers customs related services that can build your regulatory compliance program while evaluating options for duty reductions.
Line Item Reviews – DB Schenker offers Line Item reviews of your commodities. Improper classification of your items could led to higher duty rates