Late Penalties for CBP’s ISF
CBP’s Importer Security Filing “10+2” rule was implemented on January 26, 2009, and has been in effect over the three months. Many businesses have been getting firsthand experience with the new tasks and procedures associated with the new ruling.
This week, CBP defined details about the penalties that are associated with filing your ISFs incomplete or failing to file on time. It has been established that there will be a $5,000 fine per violation. However what was not clear is that penalties can occur per transmission; not simply per the final ISF. This revelation shows that the fines and penalties are capable of going well beyond $5,000, depending on the circumstances.
There is no time to wait! Filing is underway, and if you haven’t started, you are in serious jeopardy of falling behind, and may wind up paying thousands in fines to CBP before you catch up!
For those businesses that have yet to begin, or are having an excruciating time trying to file and comply with the rule, Vilden Associates has the answer.
Accessible from anywhere in the world via the Internet, Vilden’s e-ISF is fast, reliable, user friendly, and unquestionably the best direct filing service available at any price. Importer filings can be easily uploaded from your system to Vilden’s data centers and to CBP electronically, eliminating the need to re-enter data.
Source: Vilden Associates, Inc.