Date: 2013-12-03

Auditing Your Export Information; Retrieving Data from AES

Dear Cathy,

We were just acquired by a larger company, and they have advised us that they will be conducting a compliance audit of our international procedures and processes in January. They gave us a checklist of documents that we are to have available for the exports we've shipped during the past 12 months.

We asked them how they knew about our shipments in the past year, and they said with our management team's assistance that they had requested and received our Census data report. They gave us an extract from the report, but we only have our documents: the commercial invoice, packing list, and inland bill of lading.

We've identified the freight forwarders who filed the Shipper's Export Declaration (SED) with the Census Bureau. Do you think they will help us? What do we do?

Panic Stricken in Indianapolis!

Dear Panic Stricken in Indianapolis,

You are not alone in your predicament; there are many firms (large and small) who do not have the records they are to keep for five years on file at their offices.

Census released a notice to the trade community on October 30, 2013, regarding the retention of export information. (You'll find it on their blog.) Census advised that the record retention policies for the Census Bureau (15 CFR 30.10), Bureau of Industry and Security (15 CFR 762.6(a)), and the State Department (22 CFR 122.5) require keeping documentation for five years. The Census Bureau's record retention requirements do not relieve filers from adhering to other government agency's record retention policies.

All documents, correspondences and other relevant information to the export transactions should be maintained. These should include, but are not limited to, items such as:

* Electronic Export Information (EEI)

* Shipping documents

* Invoices

* Orders

* Packing list

* Other documents relevant to the specific transaction

Your new owners deserve and need honesty from you and your team. There are several reasons; they include liability mitigation, determining if prior disclosure with Census is necessary, understanding the gaps in process and procedure at your firm, and the ability to assist you in obtaining the documentation required from the freight forwarders who filed the Electronic Export Information (previously the SED).

Many freight forwarders will want to charge you a fee or claim that they are not able to provide the relevant export records to you. Your new owner and their legal counsel may be able to persuade the forwarders to find and release the documents you need.

All the best!

Cathy

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