Today, U.S. Customs & Border Protection announced that they will begin to enforce existing liquidated damages provisions for Importer Security Filings (ISF) required to be filed on or after July 9, 2013.
Enforcement actions will not apply to ISF-5 transactions, which involve goods transiting, but not remaining in, the US.
Liquidated damages enforcement actions instituted by a port will be reviewed by personnel at Customs headquarters before being issued.
What does this mean?
Late and/or inaccurate ISF’s will now be subject to the liquidated damages that Customs has been promising to collect for some time now. These penalties are $5,000 per occurrence, with a maximum of $10,000 per shipment.
Importers should make sure they are reviewing their ISF Progress Reports on a monthly basis with their ISF filer. The ISF Progress Report is available as part of your ACE portal access.
To learn how to set up and use an ACE portal, as well as how to subscribe to ISF Progress Reports, contact Mohawk Global. Struggling with late and inaccurate filings? We can help with that too. Contact us at 1-800-996-6429 or info@mohawkglobal.com to learn more.