What must an importer with prior-year imports include in a continuous bond application?

Question

Sean Reno Fashion (Sean Reno) is a clothing manufacturer in Chicago that imports textiles and apparel products. As part of a planned expansion of its sportwear line, Sean Reno applies to CBP for a continuous bond to secure multiple entries of merchandise over the coming year. In the calendar year prior to filing its application, Sean Reno imported merchandise under single transaction bonds at several different ports of entry. Which of the following is information that Sean Reno must include in its continuous bond application?

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CBP answer key: Answer C · 19 C.F.R. § 113.11(b)(1)(ii)Source: CBP past exams ↗

Accepted Answer

C) The total amount of ordinary customs duties (including any taxes required by law to be treated as duties), plus the estimated amount of any other tax or taxes on the merchandise to be collected by CBP, accruing on all merchandise Sean Reno has imported during the calendar year preceding the date of the application.