Importer of Record (IOR)
Definition
The party legally responsible for making sure imported goods comply with U.S. law and that all duties and fees are paid. It is usually the brand, not the factory or the broker.
Want a deeper explanation?
Being the IOR gives you control over classification and valuation, but it also makes you responsible for mistakes, even when someone else filed.
Keep entry records organized, because CBP can audit years back. Watch for: duties paid by a supplier or forwarder on your behalf under DDP terms, which can hide who the real IOR is and how much duty is in your cost.
Example
Your company is the importer of record on every container, so if CBP finds a classification error from two years ago, the duty bill and any penalty come to you.