All valid licenses for which no report has been submitted will be suspended by operation of law on March 1 of any given reporting year. When a license is so suspended, the port director will transmit written notice of the suspension to the broker in March of that same reporting year. The notice will be mailed to the last known address reflected in CBP records. Note that if the broker has failed to provide the port director with a current and accurate address, the suspension notice will, as a result, be mailed to an incorrect address.
During the sixty-day period beginning on the date of the aforementioned suspension notice, the broker may tender a status report and fees to the appropriate port director. If this occurs, the license will be reinstated.
If the broker does not tender the relevant status report and fees to the port directory, pursuant to 19 CFR 111.30(d), the broker's license will be revoked by operation of law (see following question in FAQ, "What happens if I fail to submit a status report by the end of the sixty-day suspension period?").