This part is listed by BMW as BMW part number 11617790547 (11 61 7 790 547) and is described as Genuine BMW Preformed Seal 11617790547. This is a large o-ring that seals the hotside chargepipe from the turbo to the front mounted intercooler on 2007-2010 E60 535i and 535xi. On the E90 335d it fits the opposite end - from the chargepipe to the turbo. Without this seal, or if it's damaged, charged intake air coming from the turbo(s) will leak on the intercooler inlet and result in a boost loss and poor performance. The seal has a more defined shape and is designed to fit a certain way over the intercooler inlet, which is why BMW calls it a preformed seal.
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BMW Fitments:
3 Series
E90 / E91 / E92 / E93 (06-13) > 335d
5 Series
E60 / E61 (04-10) > 535i
E60 / E61 (04-10) > 535xi
X5 Series
E70 X5 (07-13) > X5 xDrive35d (09-13)