Updating Names & Addresses on File with Customs


Customs will allow the name and/or address on file with Customs for a continuous bond to be updated without the need for re-writing the bond, as long as the FEIN/IRS number remains unchanged.  Before eBond went into effect, the entity’s name and/or address could only be updated by filing a rider along with the 5106 form.  Neither the address, nor the name, could be changed without the consent and formal acknowledgement by the principal and surety company, as the rider was required to be signed by a titled officer of the principal and an authorized representative from the surety.  However, since Customs no longer requires a rider to be completed, the name and/or address on file for an entity can be updated by simply filing a 5106 form.  The 5106 form may be signed by an individual employed by the entity or anyone with a power of attorney on file for that entity, such as a Customs broker.  Based on this change, it can be difficult for companies to ensure the information on file with Customs is correct and has not been changed without their knowledge.

In order for the principal to gain more control over the names and addresses on file with Customs, please see the Spotlight article in this newsletter regarding the Freeze Program.