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, […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
QUESTION: Can the US importer of record be changed and submitted to CBP before liquidation ? If yes, what CBP form is used. ************* Answers: The importer of record cannot be changed via PSC. https://www.cbp.gov/trade/programs-administration/entry-summary/post-summary-correction The only way I know of to correct a wrong importer is to have a second entry with the […]
QUESTION: Company A (located in Mexico) is ordering parts for Company B (located in Canada) using their Purchase Orders, from a supplier located in Costa Rica. The supplier in Costa Rica then ships the parts to Company C (located in USA), where the final assembly will take place. Who in this scenario, would […]
QUESTION: We purchase goods from a non-related foreign party that is acting as a non-resident IOR. The foreign party we purchase from, acting as the non-resident IOR, is not declaring additions to value (tooling that we purchase from them as a separate charge they are not including in their import price). We have again […]
QUESTION: Our company has one main IOR number with multiple suffixes based on location. I am struggling with internally, each location is treated as a separate company. Each location used to be separate companies with their own product lines and compliance managers. This is still being maintained this way with personnel and products. I am […]
