Customs Recordkeeping Requirements: What You Need to Know

Duration: 90 Minutes
This trade compliance recordkeeping webinar will cover the requirements for management and retention of critical trade records and data as mandated by U.S. Customs and Border Protection (CBP). This will cover all the basic requirements in the Customs Regulations for importer and exporter recordkeeping. This topic includes (1) what records must be maintained, (2) the form in which it is maintained, (3) where they are kept and (4) record retention period. The webinar will also cover conversion to electronic recordkeeping, recordkeeping exemptions and penalties for failure to produce records.
Trade Compliance Recordkeeping
Product ID: 505881
Objectives of the Presentation
  • Why is recordkeeping important?
  • How should we go about storing our records and import data?
  • How do we request approval from CBP for electronic recordkeeping?
Why Should you Attend
The Customs Procedural Reform Act of 1978 and the Customs Modernization Act of 1993 established detailed recordkeeping requirements for importers, customs brokers, exporters and others.

U.S. Customs and Border Protection use these records to ascertain the correctness of entries, ensure compliance with applicable U.S. laws, and determine liability for duties, taxes and penalties. This webinar explains the burdens and requirements of recordkeeping under these laws and how those required keeping records can best meet their obligations. This 60 minute webinar will help you stay complaint and avoid penalties by discussing the strict requirements for retention and the management of critical trade records and data as mandated by U.S. CBP. At the end of this session the instructor will handle your specific questions related to this topic.

Areas Covered
  • Overview of recordkeeping requirements
  • Burdens on importers and exporters
  • What constitutes a record?
  • Specific entry records that must be maintained
  • Who is required to maintain records
  • Maintaining required records
  • Required retention period and exceptions
  • Alternative methods of storage
  • What is required when a request for production of records is received
  • Penalties for failure to comply with recordkeeping requirements
Who will Benefit
  • Everyone who is involved in a commercial activity e.g. importing and exporting
  • Non resident importers (NRI)
  • Customs or Trade Compliance personnel or Officers
  • Chief Compliance Officers
  • Logistics, distribution and transportation professionals
  • Other stakeholders or positions related to the global supply chain
  • Company Executive Officers
  • Entrepreneurs
  • Freight Forwarders
  • Customer Brokers
  • Transportation Risk Management Officers
  • Import Distributors
Topic Background
Recordkeeping is one of the critical cornerstones of import compliance. Without adequate recordkeeping policies, procedures and controls in place importers may be subject to harsh penalties from CBP. In fact, recordkeeping penalties can be up to $10,000 per violation and each document requested could be deemed as a separate violation by CBP.
$300
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  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Dr. Gerald is an Academic Professor and Founder of RVG International Consulting Firm, LLC. He has over twenty five years of business experience in, strategic management, marketing analysis, and supply chain management. Dr. Gerald worked with small and medium-sized businesses to help improve their business logistic processes through verification of operational and supply chain programs. Also, he had developed management and marketing strategies that were used to improve the efficiency and effectiveness of his client business operations in this global economy.

He earned a Doctor of Business Administration in International Business and Advanced Professional Business Certification in Marketing from Argosy University/Sarasota; He also holds a Master of Science of Law (J.S.M.) degree and certificate in Compliance & Risk Management from Thomas Jefferson School of Law in International Tax and Finance Services. He has also recently completed his MBA in Project Management from the University of Phoenix.

Dr. Gerald is also a member of the Free Trade Alliance, San Antonio Transportation Association, Inc., San Antonio SCORE, TX, Supply Chain Council and Institute of Business Forecasting & Planning, and CATO Institute of Research & Analysis and Academy of Business Research. He is a Certified Supply Chain Manager, and Inventory Planner and Property Forecaster, Certified Consultant for Business Value Analysis and Methodology, Certified Export Leaders of the Free Trade Alliance and Casa of San Antonio, TX; Certified Master Management Consultant and Master Project Manager; and Certified Marketing Analyst and Registered Business Analyst by the International Management Consultant Certification Board (IMCB).

Certified CCA ™ Chartered Compliance Analyst AAFM ® American Academy of Financial Management/ Certified International Project Manager (CIPM) of the AAPM ® American Academy of Project Management. A member of the Council of Supply Chain Management Professionals; and an Advisor for the Mu Kappa Tau Marketing of the Honor Society. He has published scholarly papers for the Journal of International Business and Economics and the Strategic Management Quarterly.
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