Customs Risk Assessment Checklist for Importers

Avoid costly customs mistakes: Get your import compliance right with accurate docs, valuations, taxes, and ongoing audits in US, EU & UK with this list.

Importers operating in the US, EU, and UK must ensure full customs compliance by verifying registrations, accurately classifying goods, securing necessary licenses, and submitting precise documentation. Correct customs valuation and country of origin declarations are essential to determine duties and taxes. Applying the right customs procedures, managing VAT or sales tax, and maintaining thorough records reduce risks. Regular audits and expert reviews help catch issues early. Automation and ongoing training are critical to stay compliant and avoid penalties.

Regulatory Compliance

[ ] Valid Importer Number or Registration (EORI for EU/UK; IRS EIN or CBP importer number for US)

[ ] Correct Commodity Codes (HS codes worldwide; CN codes for EU, Schedule B for US)

[ ] Import Licenses or Certificates (e.g., FDA for US, phytosanitary, health certificates as required)

Documentation Accuracy

[ ] Commercial Invoice with complete details: seller and buyer info, registration numbers (EORI/CBP/IRS), country of origin, goods description, quantity, value, currency

[ ] Packing List with package marks, numbers, net/gross weights, dimensions

[ ] Bill of Lading or Airway Bill showing transport details and consignee info

Customs Valuation

[ ] Declared Value reflects actual transaction value plus insurance and freight (CIF for EU/UK; FOB common in US, check local requirements)

[ ] Transfer Pricing at arm’s length for intercompany transactions

[ ] Include Assists (tools, molds, materials provided free or at reduced cost) in customs value

[ ] VAT (EU/UK) or applicable Sales Tax/GST (US) applied correctly

Country of Origin and Marking

[ ] Confirm country of origin to determine duty rates and eligibility for preferential trade agreements (EU, UK, US)

[ ] Ensure goods are properly marked with country of origin per local customs rules

Customs Procedure Codes / Entry Types

[ ] Apply correct customs procedure codes or entry types: home use, temporary import, bonded warehouse, etc., per jurisdiction (EU/UK CPC, US Entry Type)

VAT, Duty, and Tax Payments

[ ] Decide on postponed VAT accounting (EU/UK) or pay VAT/Sales Tax at import

[ ] Consider Duty Deferment Account (UK/EU) or Importer Security Filing (US) to ease cash flow and compliance

[ ] Use any available customs bonds or guarantees in the US to defer payment

Record Keeping

[ ] Retain import records for required periods: at least 4 years in EU/UK, 5 years in US

[ ] Ensure documentation is accessible for audits and inspections by customs authorities

Compliance Monitoring

[ ] Conduct internal audits on customs compliance regularly

[ ] Use third-party customs experts to review processes and recommend improvements

Disclaimer: This checklist is for informational purposes only and does not constitute legal advice.Consult qualified customs professionals or legal advisors to ensure full compliance with the applicable laws and regulations in each jurisdiction.