Question 1

What does Importer of Record (IOR) mean?

Accepted Answer

The Importer of Record (IOR) is the entity — a company or individual — that is legally responsible for the import of goods into a country. The IOR's name and identification number (EIN in the US, EORI in the EU/UK) appear on the customs entry. The IOR is legally liable for: accurate classification of goods by HS code, declaration of the correct customs value, payment of all duties and taxes, compliance with import restrictions and partner-government agency (PGA) requirements, and retention of import records (typically 5 years in the US). A foreign entity may not act as IOR in the US or EU without either establishing a local presence, using an IOR service provider, or having the seller (under DDP Incoterms) act as IOR. Using the wrong IOR (e.g., putting the supplier's name on the entry) can result in both parties bearing joint liability.

Question 2

Importer of record?

Accepted Answer

The Importer of Record (IOR) is the entity — a company or individual — that is legally responsible for the import of goods into a country. The IOR's name and identification number (EIN in the US, EORI in the EU/UK) appear on the customs entry. The IOR is legally liable for: accurate classification of goods by HS code, declaration of the correct customs value, payment of all duties and taxes, compliance with import restrictions and partner-government agency (PGA) requirements, and retention of import records (typically 5 years in the US). A foreign entity may not act as IOR in the US or EU without either establishing a local presence, using an IOR service provider, or having the seller (under DDP Incoterms) act as IOR. Using the wrong IOR (e.g., putting the supplier's name on the entry) can result in both parties bearing joint liability.

Question 3

Ior?

Accepted Answer

The Importer of Record (IOR) is the entity — a company or individual — that is legally responsible for the import of goods into a country. The IOR's name and identification number (EIN in the US, EORI in the EU/UK) appear on the customs entry. The IOR is legally liable for: accurate classification of goods by HS code, declaration of the correct customs value, payment of all duties and taxes, compliance with import restrictions and partner-government agency (PGA) requirements, and retention of import records (typically 5 years in the US). A foreign entity may not act as IOR in the US or EU without either establishing a local presence, using an IOR service provider, or having the seller (under DDP Incoterms) act as IOR. Using the wrong IOR (e.g., putting the supplier's name on the entry) can result in both parties bearing joint liability.

Question 4

Who is the importer of record?

Accepted Answer

The Importer of Record (IOR) is the entity — a company or individual — that is legally responsible for the import of goods into a country. The IOR's name and identification number (EIN in the US, EORI in the EU/UK) appear on the customs entry. The IOR is legally liable for: accurate classification of goods by HS code, declaration of the correct customs value, payment of all duties and taxes, compliance with import restrictions and partner-government agency (PGA) requirements, and retention of import records (typically 5 years in the US). A foreign entity may not act as IOR in the US or EU without either establishing a local presence, using an IOR service provider, or having the seller (under DDP Incoterms) act as IOR. Using the wrong IOR (e.g., putting the supplier's name on the entry) can result in both parties bearing joint liability.

Question 5

Import of record?

Accepted Answer

The Importer of Record (IOR) is the entity — a company or individual — that is legally responsible for the import of goods into a country. The IOR's name and identification number (EIN in the US, EORI in the EU/UK) appear on the customs entry. The IOR is legally liable for: accurate classification of goods by HS code, declaration of the correct customs value, payment of all duties and taxes, compliance with import restrictions and partner-government agency (PGA) requirements, and retention of import records (typically 5 years in the US). A foreign entity may not act as IOR in the US or EU without either establishing a local presence, using an IOR service provider, or having the seller (under DDP Incoterms) act as IOR. Using the wrong IOR (e.g., putting the supplier's name on the entry) can result in both parties bearing joint liability.

Importer of Record (IOR)

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