RECORDKEEPING REQUIREMENTS.

SEC. 207. RECORDKEEPING REQUIREMENTS. Section 508 of the Tariff Act of 1930 (19 U.S.C. 1508) is amended—(1) by striking the heading of subsection (b) and inserting the following: “Exportations to NAFTA Countries.—”; and(2) by adding at the end the following:“(f) Certificates of Origin for Goods Exported Under the United States-Chile Free Trade Agreement.—“(1) Definitions.—In this subsection:“(A) Records and supporting documents.—The term ‘records and supporting documents’ means, with respect to an exported good under paragraph (2), records and documents related to the origin of the good, including—“(i) the purchase, cost, and value of, and payment for, the good;“(ii) if applicable, the purchase, cost, and value of, and payment for, all materials, including recovered goods, used in the production of the good; and“(iii) if applicable, the production of the good in the form in which it was exported.“(B) Chile fta certificate of origin.—The term ‘Chile FTA Certificate of Origin’ means the certification, established under article 4.13 of the United States-Chile 117 STAT. 932 Free Trade Agreement, that a good qualifies as an originating good under such Agreement.“(2) Exports to chile.—Any person who completes and issues a Chile FTA Certificate of Origin for a good exported from the United States shall make, keep, and, pursuant to rules and regulations promulgated by the Secretary of the Treasury, render for examination and inspection all records and supporting documents related to the origin of the good (including the Certificate or copies thereof).“(3) Retention period.—Records and supporting documents shall be kept by the person who issued a Chile FTA Certificate of Origin for at least 5 years after the date on which the certificate was issued.“(g) Penalties.—Any person who fails to retain records and supporting documents required by subsection (f) or the regulations issued to implement that subsection shall be liable for the greater of—“(1) a civil penalty not to exceed $10,000; or“(2) the general record keeping penalty that applies under the customs laws of the United States.”.