CBP Seeks Comments on Info Collection for Bonds
CBP is seeking comments by April 10 on an existing information collection for bonds. CBP proposes (here) to extend the expiration date of this information collection with no change to the burden hours or the information collected.
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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. 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.
CBP Estimates
CBP estimated 800,00 total annual Form 301 responses, estimated to create about 200,000 total annual burden hours. CBP estimated 500 total annual Form 5291 responses, estimated to create about 125 total annual burden hours.
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).
(Federal Register 02/08/17)