Mandatory AES Update
The following is the latest information on the status of the Census Bureau's final rule requiring all Shipper's Export Declarations (SEDs) to be filed electronically through the Automated Export System (AES) and increasing penalties for inaccurate or delinquent filings:
Census now expects to publish the final rule in the Federal Register by the end of November or beginning of December 2005. As expected, the final rule will provide for a 90 day implementation period. Thus, Census will expect all export data to be filed electronically by the end of February or beginning of March 2006. Overall, the final rule will be very similar to the proposed rule issued in February 2005, although certain language in the proposed rule has been modified in response to comments submitted by the public and additional inter-agency consultations. One of the main changes to the final rule will involve the provisions relating to penalties for providing inaccurate or late export information. For example, the final rule will provide that all voluntary self disclosures (VSDs) relating to inaccurate filings will be sent to Census. Census will examine the information contained in the exporter's VSD and make a decision whether to send it to BIS or CBP for enforcement. The final rule will provide a mitigation process for all civil penalties.
A summary of the proposed mandatory AES rule that was published by Census on February 17, 2005 can be found here. The public comments that were submitted to Cenus on the proposed rule can be found here.
Labels: AES
|posted by Douglas N. Jacobson| Permalink 
