Import Security Filing (ISF) penalties to commence.
The Importer Security Filing (ISF) regulation, also referred to as the 10+2 program, took effect on 26 January 2009 and will impact the import community when the penalty phase starts on 26 January 2010. Compliance with ISF regultaions is an IMPORTER responsibility. For more inforamtion, please access the below links.
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.
CBP Customs Border and Protection ISF web page
ISF Frequently Asked Questions