How much time will I have to become compliant with the new Foreign Trade Regulations (FTR)?
The requirements under the new FTR are effective July 2, 2008, 30 days after the publication date. The effective date means all provisions in the FTR should be observed. However, the Census Bureau is providing an additional 90 days, until September 30, 2008, to allow the trade community to come into compliance with the requirements. Until September 30, 2008 informed compliance is in effect. Starting October 1, 2008, enforced compliance takes effect and fines and penalties for violations of the FTR may be imposed.