The Bureau of Industry and Security (BIS) issued a final rule in today’s Federal Register (Vol 81, No. 231 December 1, 2016 p. 86571) which extends the time limit from 1-year to 4 years when using license exception TMP (Part 740. 9 Temporary exports, re-exports and transfers) to companies, factories or facilities in Mexico that are participating in Mexico’s in bond industrialization program (IMMEX). Under IMMEX the length of time that imports may remain in Mexico is commodity dependent with some items allowed to remain for 18 months or more. For the purpose of simplicity BIS did not match the commodity specific time limits allowed under IMMEX but rather instituted an “across-the-board” four year limit to products exported, re-exported or transferred to Mexico’s IMMEX program using TMP. The final rule is effective/implemented as of December 1, 2016. For further details contact our office.
