When Is a Customs Import Bond Needed?

customs import bond

A customs import bond is legally required to import goods into the United States. It allows the government to get taxes and other fees due on goods coming into the country. In addition, it ensures that the government can monitor what is coming in. If you are importing goods, it is important that you understand when you will need this type of bond.

Value

A customs import bond is needed for goods that are worth $2,500 or more. The bond will pay the taxes and duties that are required for the goods.

Regulated Goods

You also must file a bond is you are importing goods that are regulated by federal agencies. These include things such as firearms, alcohol and food items.

Type of Bond

You should also consider the type of bond. You have two general options. You can get a single entry if you will not be importing on a regular basis. However, if you are going to be importing regularly, you would need a continuous bond.

Making sure you are keeping your business transaction legal is essential to avoiding serious issues. You should always know when you need a customs import bond and make sure to secure one before your goods are to be delivered if you want to keep things problem free.

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