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This document is a notice regarding the application to reorganize and expand Foreign-Trade Zone 220 in Sioux Falls, South Dakota, under the alternative site framework, including service area descriptions

How to fill out foreign-trade zone application for

How to fill out Foreign-Trade Zone Application for Reorganization and Expansion

1. Obtain the Foreign-Trade Zone Application form from the official website or the FTZ board.
2. Fill in the basic information, such as the name of the applicant and the existing Foreign-Trade Zone number.
3. Provide details on the proposed reorganization or expansion, including a description of the activities to be conducted in the zone.
4. Include a justification for the reorganization or expansion, addressing how it will benefit trade or economic development.
5. Attach any necessary supporting documents, such as maps or blueprints of the proposed changes.
6. Review the application for completeness and accuracy.
7. Submit the application to the Foreign-Trade Zones Board along with any required fees.
8. Respond promptly to any requests for additional information during the review process.

Who needs Foreign-Trade Zone Application for Reorganization and Expansion?

1. Businesses or organizations currently operating a Foreign-Trade Zone seeking to reorganize or expand their operations.
2. Companies looking to adapt to changing market conditions or optimize their trade efficiency.
3. Manufacturers or distributors aiming to enhance their competitive edge through expanded zone operations.

People Also Ask about

Which activities are allowed in an FTZ?

Merchandise in a zone may be assembled, exhibited, cleaned, manipulated, manufactured, mixed,processed, relabeled, repackaged, repaired, salvaged, sampled, stored, tested, displayed and destroyed. Production activity must be specifically authorized by the FTZ Board.

What is the activation process for FTZ?

The procedures involve three steps; Request to the Grantee, Approval by the Grantee and Approval by Customs and Border Protection (CBP). Before an Activation request can be made to CBP, the Operator must have the Grantee's concurrence for Activation.

What operations are not allowed in a FTZ zone?

Retail trade is not permitted in Foreign-Trade Zones. While FTZs are designated as international commerce sites, they remain within the jurisdiction of all applicable local, state and federal agencies, which may still require import licenses or permits for activities within the FTZ.

How do you activate a foreign-trade zone?

Activation - Once a zone or subzone site is approved by the FTZ Board, an application must be made to the local U.S. Customs and Border Protection (CBP) office, with the concurrence of the FTZ grantee, to operate the zone/subzone site (or portion thereof) under FTZ procedures.

What is the FTZ strategy?

One of the main advantages of an FTZ is the ability to defer duty payments until goods leave the zone and enter U.S. commerce. This deferral can create significant cash flow benefits: Hold imported inventory without immediate duty payment. Pay duties in smaller, incremental amounts as goods are withdrawn.

What is the application form for a Foreign-Trade Zone is done on a?

CBP Form 214 - Application for Foreign-Trade Zone Admission and/or Status Designation.

What are the two types of FTZs?

In general, foreign-trade zones are specially designated sites located within a 60-mile radius of a U.S. port of entry, and are governed by the US FTZ Board and the U.S. Customs and Border Protection (CBP). There are actually two types of FTZs: general purpose FTZs and special purpose FTZs.

What is the FTZ process?

Companies pay a merchandise processing fee (MPF) on goods entering U.S. Customs territory. FTZ users may submit a single entry for all merchandise shipped from the Zone within a seven-day period instead of submitting a single file for each individual shipment, which can help reduce costs.

For pdfFiller’s FAQs

What is Foreign-Trade Zone Application for Reorganization and Expansion?

The Foreign-Trade Zone Application for Reorganization and Expansion is a formal request submitted to the U.S. Foreign-Trade Zones Board to modify or expand an existing Foreign-Trade Zone to accommodate changes in the business operations or to increase the area designated for foreign trade activities.

Who is required to file Foreign-Trade Zone Application for Reorganization and Expansion?

Entities that currently operate a Foreign-Trade Zone and wish to reorganize or expand their zone must file the application. This includes companies that want to alter the terms of their existing zone operation or increase the physical space dedicated to the zone.

How to fill out Foreign-Trade Zone Application for Reorganization and Expansion?

To fill out the application, the applicant must provide specific details about the proposed reorganization or expansion, including the current zone status, the intended changes, justification for the changes, and any relevant economic data. The application must adhere to the guidelines provided by the U.S. Foreign-Trade Zones Board.

What is the purpose of Foreign-Trade Zone Application for Reorganization and Expansion?

The purpose of the application is to seek approval for modifications to an existing Foreign-Trade Zone, allowing businesses to enhance their operations, adapt to market conditions, increase efficiency, and facilitate international trade.

What information must be reported on Foreign-Trade Zone Application for Reorganization and Expansion?

The application must report information such as the current physical description of the zone, the nature and extent of the proposed changes, economic impacts, operational details, and compliance with regulatory requirements, as well as any relevant financial data that supports the need for reorganization or expansion.