Recordkeeping is crucial in customs for all trade participants. Accurate trade information impacts revenue and policy decisions. Licensed customs brokers must adhere to specific regulations, including a five-year retention rule for records. Merchandise withdrawal records from bonded warehouses also require five-year retention. Different broker types have varying power of attorney rules, and drawback records need to be kept for three to five years. Recent law changes add complexity, especially for exam preparation.

#Code of Federal Regulations (CFR) Title 19
#Part 111
#Part 163