IOR-Importer of Record

IOR-Importer of Record

  • Direct and Indirect POs and who should be IOR

    QUESTION: I have the following situations that I need assistance with Company A – US Company Company B – US Company Company C – UK Company Situation 1 Company A has a PO set up with Company C and will from time to time purchase from them directly and will cover transportation from the UK […]

  • Vendor Importer of Record Program

    QUESTION: Has any member heard of this Vendor Importer of Record Program? To me it seems like a hybrid of shipping methods; however, one of our vendors is introducing it as a First Sale for Export Rule (FSFE). We are currently entering into our own First Sale Program and working with a well-known and highly […]

  • Who can be IOR?

    QUESTION: We want to contract with a company whose overseas site will prepare and send patient trial kits to their US warehouse. The US warehouse will manage the US supply of these kits on our behalf. We have similar instances with other companies who act as IOR, which is preferred by us. On the first […]

  • IMPORTING FOR SUBSIDIARIES

    QUESTION: My company has two smaller wholly owned subsidiaries with their own IOR numbers that do a small amount of importing. Currently they handle all of their own HTS classification, valuation, record keeping, etc. The thought is to start importing all of this product in under the main corporate IOR Number for better import controls. […]

  • ASSIGNING IOR SUFFIX

    QUESTION: Our company will be undergoing a merger and we will have our company and a dba with the same IRS#. How do we assign a suffix? Does the IRS assign this or do we assign and advise the IRS? =========== Answers: You assign the suffix. Why do you feel the need for a suffix, […]

  • INTERMEDIATE CNEE AS IMPORTER OF RECORD

    QUESTION: My company exported a shipment to a country that does not require an export license but we filed AES due to value over $2500. When it arrived at destination, the ultimate consignee cannot clear customs because they are not legally bonded. They needed a 3rd party company whom they purchased from to clear customs.  […]

  • IOR CORRECTION REQUIRED

    QUESTION: I have recently been informed by my Canada/into USA broker that  15 shipments from our vendor in Canada to us in the USA were erroneously cleared under the vendors name. This broker also does clearance work for this vendor. The documents clearly state the correct terms of sale and who the importer of record […]

  • 3RD PARTY IOR RISK AND PROCESS

    QUESTION: Has anyone in the ICPA community explored the use of a 3rd party importer of record (IOR) service provider in countries (outside of the US) where your company does not have a presence and your in-country customer does not want to be – or cannot be – the IOR? This IOR service provider would […]

  • ACTIONS AFTER BEING ACQUIRED [S]

    QUESTION: Our company was acquired by a new company. A 3rd party filed the change name with CBP but it was discovered the IOR Name and Address associated with certain IOR# is incorrect. It is a valid name and address of a different entity but it has a different IOR#. My questions are: What is […]

  • NON-RESIDENT IOR IN EU

    QUESTION: Is it possible to set up a US Company with US address as an Importer of Record/ Sold to in EU? ========== Answers: No.  You can be a NRI in the EU, but it only make sense if your customers are consumers as you will be hit with the full VAT.  Otherwise you need […]

  • IOR SUFFIX SCENARIO

    QUESTION: We have one EIN but 19 different locations in the US.  We are thinking about having a suffix differentiator for each location in our EIN. Does customs see the utilization of the different suffixes as more risk, less risk or no impact to risk profile? Can the membership recommend a best practices solution for […]

  • Adding another IOR or adding a suffix to an existing IOR

    QUESTION: My company just purchased another company that also imports.  The purchased company is incorporated in Germany with a US office in Texas.  We are dissolving the US company in Texas and still need to import from the German company. Should I create a completely different and new IOR number or should I just add […]