On January 5, 2010, CBP published proposed amendments to its regulations to reflect the centralization of its continuous bond program at CBP’s Revenue Division, Office of Finance in Indianapolis, IN. Pursuant to this centralization, continuous bonds must be filed with the Revenue Division instead of with the ports (as is currently the case).
The proposed amendments would require that the documentation for continuous bonds, including CBP Form 301, applications, riders, terminations, power of attorney forms and Importer ID Input Records (CBP Form 5106) must be filed at the Revenue Division via mail, fax, or in an electronic format prescribed by CBP. Many of the proposed amendments are intended to facilitate the use of the electronic submission of bond documentation (e.g., continuous bonds submitted electronically would not require an affixed seal, but would require electronic certification language in a State that requires a seal). CBP is accepting comments on the proposed amendments received on or before March 8, 2010.