CBP has announced how it will calculate penalty amounts from the Importer Security Filing (aka 10+2).
For the importers, a late filing can result in a $5,000 penalty for liquidated damages for each inaccurate ISF. Inaccurate filings, inaccurate updates, and the failure to withdraw an ISF can also result in $5,000 claim for liquidated damages.
For the freight forwarders, claims for liquidated damages for failure to file a CSM (Container Status Message), late CSMs, and inaccurate CSMs may be assessed up to a maximum of $100,000 per vessel arrival.
Choosing not to file your ISF at all? Hope you don't really need that shipment!
CBP shall withhold the release or transfer of the cargo until CBP receives the required ISF information and has had the opportunity to review the documentation and conduct any necessary examination.
CBP also reserves the right to limit the permit to unlade so as to not permit unlading of merchandise for which no ISF has been filed, and, if such cargo is unladen without permission, it may be subject to seizure. All seizures will be approved by CBP Headquarters.
Customs Law Blog has an excellent post regarding Customs 10+2 penalties and mitigation as well as the link to the original document, which details all penalties and ISF requirements.
Avoid the 10+2 ISF Penalties
Customs 10+2 / ISF is an opportunity to enhance your company's import compliance. Automating Import Compliance. Elements of 10 + 2 filings are the same for other import documentation.
Learn more about how to turn this challenge into an opportunity in our new video, "Strategic Opportunities that 10+2 Presents."
