What documents should I retain for record keeping?

Customs Record Keeping Requirements

When it comes to record keeping requirements, the following can differ between country to country:

1. Which records to keep
2. How long to keep
3. In what format to keep

The penalties for not meeting record keeping requirements vary from country to country. No jurisdiction requires ten years across the board, and keeping to a single global number is how traders end up either over-retaining or falling short. The minimum periods differ: five years in the United States from the date of entry, at least three years in the European Union from the end of the year the declaration was accepted, at least five years in Singapore from permit approval, six years in Canada, five years in Australia, and three years in China from the date the goods were released. Some record types carry their own clock, for example US drawback records and goods under a customs procedure, so check the rule that applies to the record rather than to the shipment.

Record keeping requirements between Tax and Customs authorities may overlap. Within companies, these departments will have to work together to streamline resources.

When it comes to record keeping requirements of Customs authorities, the legal requirements usually stipulates that all documents related to the imported or exported goods must be archived.

Even insignificant documents such as quotes by the courier of freight charges and volumetric weight calculation should be retained.

Hence, it could include the following:

1. 1. Import or Export declaration or entry – can be known as cargo clearance permit, import permit, bill of entry, administrative document etc.
   2. Transport Documents: Bills of Lading or Air Waybill
   3. Pre-import approval
   4. Quotations
   5. Sales contracts
   6. Purchase orders
   7. Pro Forma invoices
   8. Commercial invoices
   9. Tax invoices
   10. Packing lists
   11. Certificate of Analysis
   12. Certificates of Origin
   13. Material Safety Data Sheet
   14. Freight invoice
   15. Customs invoice
   16. Physio-sanitary certificate
   17. Dangerous Goods declaration
   18. Manufacturer’s declarations
   19. Other Governmental Agency (OGA) import/export approval documentation
   20. Any documents submitted to OGA in order to get approval documentation
   21. ATA Carnets (if used)
   22. End-use declaration
   23. Shipper’s letter of instruction
   24. All proof of payments made
   25. All proof of payments received
   26. Letters of credit
   27. Email communication related to each shipment
   28. Free Sale Certificates
   29. Insurance certification
   30. Surveyor reports (if applicable)

Reference:

https://www.americanconference.com/us-customs-boot-camp-871l14-was/wp-content/uploads/sites/1364/2016/08/Lawrence.Recordkeeping.pdf