CBP Releases Final Rule for Modern Drawback Claims Procedures
December 17, 2018
On December 17, 2018, U.S. Customs and Border Protection (CBP) released its final rule amending drawback regulations. These amendments were made in response to the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA) and include:
liberalizations of the merchandise substitution standard
simplifications of record-keeping requirements
extension and standardization of deadlines for claims filings
complete transition from paper-based to electronic filing system.
The final rule also provides further clarification of CBP's TFTEA-related requirements for drawback duty claims.