Disclosures (referred to as ‘prior’ in the US and ‘voluntary’ in Canada) are the official processes through which an individual or business can offer corrections to found errors in compliance.
A typical question asked when in the face of discovering an error is what the drawback of a prior disclosure is - fortunately, there are very few. Beyond returning any necessary duties that were missed as a result of the error, there are no additional penalties or drawbacks involved in a voluntary disclosure.
If you or your broker have discovered errors in your compliance, the best thing you can do is have a voluntary disclosure delivered quickly and correctly.
As your trusted international trade resource, we can help determine issues and errors that might call for a voluntary disclosure.
Once we identify an error in compliance, we have the skills and experience to submit your voluntary disclosure quickly and correctly.
A timely voluntary disclosure can help you avoid penalties should the error be found, instead, during a verification.
As your trade management team, our compliance experts can aid in discovering these compliance errors and, upon such a discovery, can help determine the correct types of voluntary disclosure you should pursue. The team can also help determine the total value of the duties owed and, once prepared, accurately submit the disclosure documents on your behalf.
If you or your broker find an error, voluntary disclosure is the best way to resolve that issue. Not only are there no additional costs or penalties associated with a timely disclosure, but you avoid the often significant additional penalties should Customs discover that error during an audit and the headache of a Customs protest that might follow.
Admitting to and owning compliance errors are viewed as mistakes corrected by Customs. Having your errors uncovered is, instead, viewed as deception.