Importer of Record Consulting Services: Understanding Your Obligations

The Most Important Name on the Customs Entry

Every customs entry must identify an importer of record (IOR): the entity legally responsible for ensuring accuracy, paying duties, and meeting all regulatory requirements. Being the IOR is the assumption of significant legal and financial obligations.

What the IOR Is Responsible For

Accuracy of entry data, paying all duties and fees, compliance with all government agency requirements, exercising reasonable care, and maintaining records for five years. If your broker files an incorrect classification, penalties attach to you as the IOR.

IOR Arrangements in Complex Supply Chains

Direct importation, third-party IOR services, and consignee-based arrangements each carry different risk profiles. The IOR in every case bears the full weight of customs compliance.

Common IOR Mistakes

Delegating without oversight, failing to understand related-party implications, assuming supplier compliance is your compliance, and ignoring other government agency requirements.

Ready to Take Action?

Peacock Tariff Consulting helps businesses understand their IOR obligations, structure compliant import programs, and manage risk. Contact us today.