Importer of Record (IOR) into Fulfilment Centers
Fulfillment centers let you store your products in any of their locations across the globe. These centers will pick, pack, ship, and provide customer service for your products allowing you to reach more customers and expand into new countries.
Fulfillment centers will provide many services that will simplify your e-commerce life. However, they will not take on the risk or responsibilities of import compliance or perform the IOR duties required to import internationally.
Our zee IOR Solution
Being an IOR does not only mean having a trading entity or foreign tax registration in the destination country. It also involves taking on certain risks and responsibilities that must be completed in a specific way for every shipment. Being able to carry out these responsibilities takes a lot of insight and experience as the IOR.
The IOR must:
- Ensure each shipment complies with local laws and regulations,
- File all declarations,
- And pay for the associated fees, import duties, and taxes.
zee’s importer of record service relieves e-commerce stores from these import risks.
According to local laws and regulations, the IOR can be audited for any transactions they take responsibility for. Since customs officers can choose to audit an IOR for a period of up to 7 years after the import is complete, audit risk is a long-term consideration.
Do I still need an IOR if I have a broker?
Yes. This common mistake made by sellers often results in stuck shipments. A broker only files the import paperwork on the IOR’s behalf. They do not take on any of the risks. This is why many freight companies will offer a brokerage service, and ultimately without an IOR, your goods will not be cleared.