64. Which of the following is NOT an example of diligence in correspondence and paying monies?
A) Brokers must transmit payments received from the client after the due date to the Government within five (5) working days from receipt.
B) Brokers 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.
C) Brokers must provide active clients with a notice to client of method of payment within each twelve (12)-month period.
D) Brokers must file a status report with CBP every three (3) years accompanied by the prescribed fee.
E) Brokers need not provide a written statement accounting for funds received if there is actual payment of the funds by a broker.
[bg_collapse view=”button-green” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer and Citation” collapse_text=”Hide Answer and Citation” ]
The Answer is: D
Citation: 19 CFR ยง111.29(a)
[/bg_collapse]