Several years ago, U.S. Customs instituted the Importer Security Filing requirement, where all importers have to file a set of data about their shipment that includes the shipper name and loading details 24 hours before the shipment leaves port in China.
Companies that filed late or innaccurate information were threatened with a $5,000.00 fine.
U.S. Customs hadn’t been enforcing the $5,000.00 penalty to allow companies time to adjust to the new ISF requirement, until now. U.S. Customs will now hit any company that files late or innaccurate information ISF data with the $5,000.00 penalty.
We provide a solution to help eliminate the risk of a problem occuring in this month’s Global Trade newsletter at the July 2013 Newsletter page.
It’s important that you are working with a customs broker who promptly makes the ISF filing as soon as they receive the ISF data.