Today in the Federal Register, CBP published a Notice of Proposed Rulemaking that proposes an increase the limit of informal entries from $2,000 to $2,500. The Customs Modernization provisions under NAFTA authorized the $2,500 limit; however, the current limit of $2,000 has been in place since 1998. Raising the limit will help address inflation since the last amount was set and reduce the administrative burden on importers and customs brokers. Additionally, CBP proposes to change the language that requires formal entry for certain articles that were previously subject to absolute quotas.
Comments must be submitted by December 27, 2011 using the Federal eRulemaking Portal or by mail. Click HERE to view the details of the notice and instructions for submitting comments.
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