Topics / Duties of a licensed broker

A broker receives a client's payment of duties after the date the payment was due to the Government. Within what period must the broker transmit the payment?

  1. 5 working days from receipt by the broker
  2. 10 calendar days from receipt by the broker
  3. The same business day
  4. 30 calendar days from the original due date
Show the answer

A. 5 working days from receipt by the broker

Payments received by a broker from a client after the due date must be transmitted to the Government within 5 working days from receipt by the broker.

Source: 19 CFR 111.29(a)

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