ISF Late Filing Penalties are on the Increase!
News Alert
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ISF Late Filing Penalties are on the Increase!
Posted on May 1
The trade has recently reported that importers are seeing a surge in the number of penalties issued by CBP for late ISF filings.
Now is a good time to review your ISF filing procedures to confirm that you and your suppliers have proper procedures in place to ensure that future ISF filings are done in a timely manner.
Failure to submit a timely ISF can result in a penalty of $5,000.00 per violation.
If you have any questions about this recent trend or would like to discuss your current ISF procedures, please contact your V. Alexander account team for assistance.