Build the conform
Once analyzed, the Handoff options unlock.
Add markers, include audio, color clips by severity, open the Review window after import, and optionally print an issues PDF. Grading-layout options control nested sequences (embedded timelines vs flattened), whether to collapse tracks for a straight full-frame grade, and whether to join through cuts (a razored clip whose halves are the same media, source-contiguous, at the same speed with the same effects and no transition lands as one clip, so a shot is one grade rather than one per piece). To ship only the frames the edit uses, turn on trimmed media.
If you'll bring the grade back, turn on Premiere Pro roundtrip and pick a delivery codec (ProRes / DNxHR). On the way back only the graded picture is swapped — audio, graphics and other media rebuild from your originals, so keep them on disk. The way back is the return trip.