Compliance Costs for Small Importers

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This video discusses the ISF 10+2 requirement and the compliance cost for small importers in the United States. The ISF, or Importer Security Filing, is mandatory for all ocean shipments entering the country and aims to enhance security and risk assessment. Small importers who do not have a customs bond are required to file the ISF 10+2 form. A customs bond is a contract that guarantees compliance with customs regulations and financial obligations, but smaller importers often opt not to obtain one due to cost. The compliance cost for small importers includes the filing fee of $30 per ISF and the potential cost of hiring a customs broker for assistance. Hiring a broker is not mandatory, but their expertise can simplify the process and avoid penalties. Staying informed and partnering with a cost-effective customs brokerage firm can help mitigate compliance costs. It is important for importers, regardless of size, to prioritize accurate and timely filings to avoid delays, penalties, and future shipment denials. #usimportbond #isfcustomsbroker #uscustomsclearing

Video Disclaimer Here: This video is designed for education and is unaffiliated with US government bodies.