October 2022 — Question 66
Generally, how many years after the date of entry or final withdrawal for a warehouse entry must the broker retain the records?
- AOne (1) year
- BTwo (2) years
- CThree (3) years
- DFive (5) years✓ CBP's answer
- ESeven (7) years
Why this answer
The cited broker recordkeeping regulation sets the general retention period as tested: brokers must keep the records for at least five years after the date of the entry to which they relate, and for a warehouse entry the period runs from the date of final withdrawal from the warehouse, so five years is keyed. Three years is the tempting distractor because a three-year period does exist in the recordkeeping scheme for drawback claims, measured from payment of the claim, but ordinary entry and warehouse records carry the five-year requirement, and nothing in the provision supports one, two, or seven years. Watch for: Borrowing the three-year drawback retention period for ordinary entry records.
Original CBLE Simulator explanation — the question and key above are CBP's; this analysis is ours. Verify against the current edition before relying on it in practice.
CBP's cited authority
Answer and citations as published in CBP's official answer key for the October 2022 examination.
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