CBP Extends Comment Period on Import Bond Info Collection
CBP is extending the comment period by 30 days for an existing information collection on importation bond structure. CBP proposes to extend the expiration date of this information collection with no change to the burden hours.
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CBP Forms 301 and 5297
Each person who is required by law or regulation to post a bond in order to secure a customs transaction must submit the bond on CBP Form 301. The form is available (here). Surety bonds are usually executed by an agent of the surety. The surety company grants authority to the agent via a Corporate Surety Power of Attorney, CBP Form 5297. This power is vested with CBP so that when a bond is filed, the validity of the authority of the agent executing the bond and the name of the surety can be verified to the surety's grant. This form is available (here)
CBP Estimates 800,000 Respondents for Form 301 and 500 for Form 5297
CBP estimates there will be 800,000 respondents per year for Form 301. The estimated time per respondent is 15 minutes and the total annual hours are estimated to be 200,000. CBP estimates there will be 500 respondents per year for Form 5297. The estimated time per respondent is 15 minutes and the total annual hours are estimated to be 125.
Comments Requested on Ways to Minimize Burden, Etc.
CBP is asking for comments from the general public and other federal agencies on (a) whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimates of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden, including the use of automated collection techniques or the use of other forms of information technology; and (e) the annual costs burden to respondents or record keepers from the collection of information (a total of capital/startup costs and operations and maintenance costs).
CBP Contact -- Tracey Denning (202) 325-0265
(Federal Register 03/03/14)