6 December 2012: CBP Increases Value for the Informal Entry Limit
The United States Government announced that it is delivering on a key commitment under the U.S.-Canada Beyond the Border Action Plan through the publication of a final rule in the Federal Register titled "Informal Entry Limit and Removal of a Formal Entry Requirement", which will increase the value threshold for expedited customs clearance. The rule will increase the value thresholds to $2,500 for expedited customs clearance from the current levels of $2,000.
This rule will facilitate trade for low value shipments. Importers will realize an annual benefit of an estimated $13 million. The final rule is effective on January 7, 2013.
On October 28, 2011, CBP published a proposed rule in the Federal Register proposing to amend title 19 of the Code of Federal Regulations to increase the informal entry limit from $2,000 to $2,500, the maximum statutory limit, in response to inflation and to reduce the burden on importers and other entry filers. CBP received comments on the proposed rule for 60 days. Currently, for any merchandise valued over $2,000, CBP requires importers to provide a surety bond, complete CBP form 7501, and pay a minimum of $25 in Merchandise Processing Fees.