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Voluntary Self Disclosures: Help us Help you!
Posted By stephenjackson On February 13, 2013 @ 11:36 am In Foreign Trade Regulations | 1 Comment
By: Autumn Banks
A Voluntary Self-Disclosure (VSD) is when companies willingly disclose a violation or a suspected violation of the Foreign Trade Regulations (FTR). This disclosure is accompanied by the corrective actions taken in AES, it means you must correct shipment information or file for shipments that were not filed previously.
Submitting a VSD with the U.S. Census Bureau provides you the opportunity to mitigate potential penalties, as well as document discovered errors and corrections. If violations are known, we strongly encourage you to file VSDs to ensure proper due diligence with the FTR. See section 30.74 .
Tips When Submitting Voluntary Self-Disclosures
In the above image, Schedule B numbers were reported incorrectly for five shipments. The disclosure included the corresponding ITNs, and the original and corrected Schedule B numbers.
Make sure that you have all the information when submitting a disclosure. VSDs that do not have all the pertinent information might not be used for a mitigating factor. Complete procedures for filing VSDs can be found here .
For more information about filing a VSD with the U.S. Census Bureau, please contact the Regulations, Outreach, and Education Branch at 1-800-549-0595, option 3.
Article printed from Global Reach Blog: http://globalreach.blogs.census.gov
URL to article: http://globalreach.blogs.census.gov/2013/02/13/voluntary-self-disclosures/
URLs in this post:
 Image: http://globalreach.blogs.census.gov/files/2013/02/helpful-tips1.jpg
 30.74: http://www.census.gov/foreign-trade/regulations/regs/regulations20080602-federalregister.html#30_74
 Image: http://globalreach.blogs.census.gov/files/2013/02/chart_autumn.jpg
 here: http://www.census.gov/foreign-trade/regulations/vsd.html
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