Importer of Record (IOR) vs FSVP Agent
FSVP Plan
Standard FSVP vs Modified FSVP
FSVP Agent focus on FSVP responsibility only, not import documentation, tax, and duty, etc..
Importer of Record (IOR) Responsibilities
The Importer of Record (IOR) is the entity responsible for ensuring that imported goods comply with all customs regulations, duties, and legal requirements when entering a country. In the U.S., the IOR plays a crucial role in the customs clearance process.
Key Responsibilities of the Importer of Record (IOR)
1. Customs Compliance & Documentation
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Ensure all imported goods comply with U.S. Customs and Border Protection (CBP) regulations.
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File accurate import documentation, including:
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Customs Entry Documents (CBP Form 3461)
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Customs Entry Summary (CBP Form 7501)
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Commercial invoices
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Packing lists
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Bill of lading (BOL) or airway bill
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Any additional permits or certificates required for specific goods (e.g., FDA, USDA, EPA).
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2. Payment of Duties & Taxes
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Calculate and pay import duties, tariffs, and taxes required by CBP.
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Ensure proper classification of goods under the Harmonized Tariff Schedule (HTS) to determine applicable duty rates.
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Handle any applicable trade agreements or exemptions (e.g., USMCA, GSP).
3. Product Compliance & Safety Regulations
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Ensure imported products meet all U.S. regulatory standards, such as:
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FDA regulations (for food, drugs, medical devices, cosmetics).
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USDA regulations (for agricultural and meat products).
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CPSC regulations (for consumer product safety).
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EPA regulations (for environmental and chemical imports).
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Maintain records for regulatory audits and inspections.
4. Recordkeeping & Audit Compliance
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Keep all import records for at least 5 years as required by CBP.
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Be prepared for CBP audits or requests for additional documentation.
5. Handling CBP Inspections & Issues
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Respond to any CBP holds, exams, or detentions on imported goods.
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Address any import violations, misclassification, or discrepancies in customs filings.
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Work with CBP to resolve any compliance issues or penalties.
6. Managing Import Licenses & Permits
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Obtain necessary licenses or permits for restricted goods.
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Ensure that the shipment follows any import restrictions or quotas.
Conclusion
The Importer of Record (IOR) is responsible for the legal importation of goods, ensuring compliance with CBP regulations, paying duties, and handling customs documentation. If importing FDA-regulated food, a separate FSVP Importer is required to verify supplier compliance with food safety regulations.
