April 2023 — Question 64
Which of the following is NOT an example of diligence in correspondence and paying monies?
- ABrokers must transmit payments received from the client after the due date to the Government within five (5) working days from receipt.
- BBrokers must provide a written statement to a client accounting for funds received for the client from the Government within sixty (60) calendar days of receipt.
- CBrokers must provide active clients with a notice to client of method of payment within each twelve (12)-month period.
- DBrokers must file a status report with CBP every three (3) years accompanied by the prescribed fee.✓ CBP's answer
- EBrokers need not provide a written statement accounting for funds received if there is actual payment of the funds by a broker.
Why this answer
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CBP's cited authority
§ 19 CFR §111.29(a)
Answer and citations as published in CBP's official answer key for the April 2023 examination.
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