Trade Zone Forms Get OMB Nod: Yawn-Worthy Update
Published Date: 3/31/2025
Notice
Summary
The Department of Commerce is asking for public feedback on the forms companies use to apply for Foreign-Trade Zones, special areas that help businesses save money on taxes and customs. This review helps make sure the paperwork isn’t too tricky or time-consuming. If you’re involved in these zones or just curious, you have until May 30, 2025, to share your thoughts—no cost changes, just smoother processes!
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
Who must apply and what to include
If you are a state, local, or tribal government, not-for-profit, or firm applying for Foreign-Trade Zone (FTZ) status, subzone status, production authority, modifications, or waivers, your application must include information on facilities, financing, operational plans, proposed production operations, need for FTZ authority, and economic impact. If you request production authority you must also provide specific information on foreign-status components, finished products, and customs-tariff-related savings. The FTZ Board may restrict or prohibit operations that are found to be detrimental to the public interest.
Estimated paperwork time and dollar burden
The Department estimates 289 respondents with an estimated time per response of 3.5 to 131.0 hours, total annual burden of 2,400 hours, and an estimated total annual cost to the public of $133,400 for this information collection. Respondent participation in these collections is mandatory under the Foreign-Trade Zones Act.
How to submit FTZ applications
U.S. firms or organizations applying for FTZ actions must submit their applications by email to the office of Foreign-Trade Zones. The notice provides contact details for submission and questions.
Opportunity to comment by May 30, 2025
The Department is soliciting public comments on this information collection and will accept comments that are received on or before May 30, 2025. Stakeholders can provide feedback on the necessity, timing, accuracy of burden estimates, clarity, and ways to reduce reporting burdens.
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