Ken Weigel presented "Prior Disclosures: How to Know When It’s Time to File" on October 27, 11:45am - 12:45pm, during this conference hosted by American Conference Institute. His panel addressed the following topics.
- How to determine whether submitting a disclosure is appropriate – including corporate considerations
- How to complete the disclosure process and ensure credit is received
- What if the non-compliance to be disclosed involves multiple ports and/or a large volume of entries?
- How to determine the scope of your disclosure: How far back should you go
- Deciding whether to submit a disclosure if a CBP formal investigation has begun
- Understanding ISA’s unsung benefit: Enhanced prior disclosure rights
- What about duties and interest? How and when a tender should be made
This conference provided import compliance professionals with guidance on how to set up and monitor a successful import compliance program. New regulatory requirements combined with fewer compliance resources are challenging even the most seasoned trade compliance professionals. Now more than ever, US importers are under tremendous pressure to meet fast-changing trade regulations and avoid costly border delays and monetary penalties. With the implementation of new anti-terror initiatives such as 10+2, higher imported product safety standards, Lacey Act requirements and other regulatory import initiatives currently underway, companies must focus their attention like never before on the need for robust internal customs controls and internal auditing to detect potential violations. The impact of a single customs penalty or border delay in today’s environment is detrimental to a company’s bottom line. Penalties are rising, internal resources are scarce and CBP enforcement priorities are evolving. Importers operating in this challenging environment must maintain and monitor their compliance function, minimize duties and stay current on how new legal requirements impact their import operations.
October 26 & 27, 2009
The Latham Hotel / Washington, DC