U.S. Antiboycott Provisions of the Export Administration Act: The Reporting RequirementsJuly 07, 2011, 06:56 PM
This post is a follow up to my last post regarding the Antiboycott Provisions of the Export Administration Regulations (EAR). Pursuant to the antiboycott provisions of the EAR, companies are required to report certain conduct to the U.S. government. For instance, if your company receives a request to take an action that has the effect of furthering or supporting a boycott, then such a request must be reported, regardless of whether your company intends to comply with this request. However, 15 C.F.R. 760.5, which can be found here, includes a list of requests that are not reportable. The report should be submitted using the single transaction report form, BIS 621-P, which can be found here, and it must be postmarked by the end of the month following the calendar quarter in which the company received the boycott request. However, if the request was received outside of the U.S., then it must be postmarked by the end of the second month following the calendar quarter in which the company received the boycott request. The submitted report will be made publicly available unless the company specifically requests the report to remain confidential and follows the instructions to request nondisclosure that are provided on form BIS 621-P. All company records pertaining to the boycott request and the submitted report must be maintained for at least a five year period.