Uptick in CBP Penalties for “Late” ISF Filings

Importers are reporting an uptick in penalties from U.S. Customs and Border Protection (CBP) as a result of late ISF filings. Though CBP penalties for late ISFs filings are not new, the measure for lateness used to encompass several weeks or more. It is now our understanding that CBP is tightening their requirements; we are seeing penalties issued for ISFs filed on the same day as export or even just after sailing.

Failure to submit a timely ISF can result in penalties amounting to $5,000 per transaction. It is important that you and your suppliers are aware of, and in compliance with, ISF filing requirements.

If Shapiro does not handle your ISF and/or ISF-5 filings, please ensure your broker observes proper filing requirements.

As always, Shapiro realizes the importance of prompt and accurate filings, and will continue to adhere to our best practices (filing a minimum of 2 days prior to sailing). Please don’t hesitate to reach out to our compliance team (compliance@shapiro.com) with any ISF-related questions.

Shapiro will monitor the situation and provide updates as they become available.

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