Electronic invoicing guide
United States
Digital reporting requirements
To be audited
Obligatory
Without obligation, the Pilot is configured to apply to B2B transactions, when active.
Authority
The participants in the BPC e-invoice exchange marketplace pilot project have established the Digital Business Network Alliance (DBNAlliance) as the legal entity to oversee the new e-invoice exchange network. As the supervisory body, the DBNA will be responsible for defining the policies, standards, security mechanisms and other rules and guidelines that make up the exchange framework. However, this represents a private initiative, it will not be legally binding.
Platform
There is a private project for the implementation of electronic invoicing in the United States. The result of the pilot project carried out by the Business Payments Coalition (BCP), which brings together more than 600 entities, is the creation of the Digital Business Networks Alliance. DBNAlliance is a legal entity whose purpose is to oversee the electronic document exchange network.
It was assumed that its activity would consist of enabling Access Points, i.e. service providers that allow providers and recipients to exchange documents through the Exchange Framework. The Exchange Network is based on open, non-proprietary standards. It supports a variety of technology and service providers, ensuring the secure exchange of electronic documents between them.
The Business Payments Coalition, together with the Federal Reserve, is piloting a standardised B2B electronic document exchange system in the United States. The initiative aims to establish a standardised electronic invoicing model and create an electronic document exchange network, much like the PEPPOL system developed in Europe.
Format
The exchange framework is based on the exchange of electronic invoices through a four-cornered network model, in which electronic documents are sent and received through access points connecting network users. All companies are senders and receivers. Once connected, companies can exchange with all other companies registered in the network. The communication protocols shall be AS2/AS4. The process shall support requests and document status responses. The format shall be based on the current OASIS UBL 2.X format for invoice and credit note documents. The structured file may include attachments and shall include an electronic signature. The fields to be included are:
- Information on suppliers and customers.
- Shipping information.
- Payment instructions, bank/card information.
- Charges, discounts and taxes at document and item level.
- Description of items.
- Notes section.
Storage time
7 years from the filing of the tax return.
Reporting and processes
This country has no reporting obligations.
In the US, the four-corner network model will be implemented, which operates on a similar model to Peppol. Through access points, users will be able to send and receive electronic invoices. Everything will be done through secure AS2/AS4 channels. The chosen semantic model aims to maintain strict alignment with established and planned legal frameworks in other parts of the world to support possible global interoperability. To exchange documents in this model, companies must choose a provider, which is an Access Point that guarantees the exchange of electronic invoices in accordance with the established standard and format with all the other companies in the network.
Upcoming legislative changes
For the time being, no legislative changes are foreseen.
Links of Interest and documents
Do you have a specific need?
Get in touch with our team of experts to tackle legislative challenges.
- Detailed reports for any market.
- Support and advice in the implementation process.
- Electronic invoicing as the cornerstone of your company's digital transformation.
