Import Security Filing (ISF) penalties to commence.

Based on our most updated communications with our Surety Company (customs bond underwriters) and CBP (U.S. Customs and Border Protection), we have been advised that liquidated damages will soon be issued for ISFs that are filed late.

CBP headquarters is currently reviewing cases against non-filers and those with “egregious errors,” but there will be no notice to the trade community when the liquidated damages will actually be issued. According to CBP, liquidated damages should be expected this month or sometime in May.

Late filing ISF Single Entry D bonds may require ISF penalty security deposits from the Importer of Record in the amount of USD 10,000.00 per violation.