BIS Extends Comment Period for Record Retention Review

Bureau of Industry and Security, Commerce Department is calling for comments on the Five-Year Records Retention Requirement for Export Transactions and Boycott Actions.

The five-year retention requirement corresponds with the statute of limitations for violations and is necessary to preserve potential evidence for investigations.

All parties involved in the export, reexport, transshipment or diversion of items subject to the EAR and the U.S. party involved in the export transaction involving a reportable boycott request are required to maintain records of these activities for a period of five years.

The frequency depends upon how often each entity is involved in an export transaction or one involving a reportable boycott request.

Public comments were previously requested via the Federal Register on April 5, 2023, during a 60-day comment period. This notice allows for an additional 30 days for public comments.

[88 FR 50833]