News and Media

News and Media

07/06/2013

Breaking News ISF Update: Next Phase of Importer Security Filing (ISF) to be in effect July 9, 2013

The existing liquidated damages provisions effective with ISFs required to be filed on/after July 9, 2013 will apply. The enforcement actions will not apply to the “ISF 5s,” which apply to goods transiting, but not remaining in, the US. This includes goods moving on immediate export or transportation and exportation bond moves and to freight remaining on board
 
CBP will assess liquidated damages in accordance with the relevant mitigation guidelines which were published in the CBP Bulletin on July 17, 2009.  While there may be multiple errors on an ISF transmission, in accordance with the guidelines, CBP may assess a claim for liquidated damages as follows: $5,000 per late ISF, $5,000 per inaccurate ISF, and $5,000 for the first inaccurate ISF update. CBP stressed that every liquidated damages enforcement action instituted by a port will be reviewed by CBP headquarters personnel before issuance.
 
For additional information, CBP encourages the trade to refer to the FAQ document posted on the CBP   website. The agency anticipates updating the and confirmed that the current Interim Final Rule applies and that they are working on the Final Rule to finalize the optional flexibility for certain data elements.


 

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