Your Broker Knows Blog

You have made your sale, shipped the goods to your US buyer, and the shipment is on its way to the border. Then, without warning, the goods are stopped at the port of entry, and the customs broker requests an IRS number. At this point, you are likely wondering what an IRS number is and why it is needed. To help you understand, let's dive into this scenario a little deeper.

Importing a motor vehicle into the US can be difficult. However, we have broken down the process into three steps for those who want to engage in this venture independently.

US Customs and Border Protection (CBP) requires an entry bond when goods are imported. There are two types of entry bonds: continuous or single entry. Both bonds guarantee that any fees owed to Customs and Partner Government Agencies (PGAs) will be paid. The importer or the surety company that sold the bonds must cover the fees.

You may have noticed a few more drink options on restaurant menus and grocery and liquor store shelves; non-alcoholic beverages. Although long-standing brands have held these spots, never before have there been so many options. They are referred to as mocktails, zero-proof cocktails, and contain little to no alcohol within them but all the flavor of favorite bar go-tos. With so many of these businesses opening up shop in Canada, and increasing demand, exporting to the US may be the next step of your commercial growth strategy.

Summer is in full swing, which means more reasons to travel, and what better way to do just that than with an RV escape to the US? Although Canada and the US share one of the world's most significant and robust relationships, recreational travel for Canadians could be subject to secondary inspection when going through Customs clearance.

Upcycled goods have generated increased interest over the past few years as more consumers and businesses seek ways to reduce waste

The US has many trade programs and agreements with numerous countries worldwide. With 15 Free Trade Agreements (FTAs) in place, there is ample opportunity for businesses to find benefit in these programs. Free trade agreements allow qualifying goods to be imported at a reduced rate and, in some instances, a duty-free rate, should they meet the eligibility requirements.

US President, Joe Biden, signed the Uygur Forced Labor Prevention Act (UFLPA) in 2021. Did you know under this act, your goods may be excluded from importation into the US? This is true; however, it depends on the country of origin where the goods were produced or manufactured.

US Customs and Border Protection (CBP) believes up to 85% of potential refunds of duty go unclaimed yearly. However, did you know that CBP has a program where an importer can request a refund of up to 99% of duties paid on goods that were later exported, destroyed, or returned to the supplier?

The global economy is as interesting as it is complicated. There are a host of factors that influence how not only nations but also people around the world do business together. Some factors include trading in the form of imports and exports and fluctuations in