Five Compliance Best Practices For … Customs Housekeeping

As an accompaniment to our biweekly series on "What Every Multinational Company Should Know About" various international trade, enforcement, and compliance topics, below find an update to our series on compliance checks that every multinational company should consider. Give us two minutes and we'll give you five suggested compliance best practices that will benefit your international regulatory compliance program.

Even experienced importers can miss some common Customs housekeeping issues. Here are five periodic Customs best practices that you should confirm have occurred at your company if you frequently import:

1. Request Census Bureau Data: The Export Administration Regulations (EAR) require that exporters maintain certain information regarding exports for a period of five years after the time of exportation. To help comply with this requirement, it is a good idea to request Census Bureau data for the prior 12 months once a year.