FAQS ABOUT ISF FILING
The ISF Bond is required by Customs for each ISF Filing. The ISF Bond covers any penalties that US Customs reserves the right to issue in the case of default from the importer which the bond surety company will guarantee payment to CBP. The ISF Bond is an insurance liability to CBP for your shipment.
Customs reserves the right to issue penalty for late ISF Filings. Not all late ISF's will be automatically fined by Customs. Each shipment will be reviewed by Customs along with the Importers past history. Importers who have a long history of late ISF's are at a higher risk of penalty. Importers who are late the first time, or even 2nd the risk of penalty is low, but Customs always has the right to issue on the first occurance.
Customs clearance is required to be filed with U.S. Customs the calculated import duty and shipment details via form 7501 + 3461. These are submitted electronically to customs for them to review shipment details and to pay for import duty. Customs clearance service is charged separately from ISF Filing.