Import bonds and customs entry for LATAM goods — secure the right bond, file correctly

Importing goods from Latin America into the United States requires compliance with U.S. Customs and Border Protection (CBP) regulations, including the filing of a customs entry and securing an import bond. This guide provides US buyers with a clear understanding of import bonds, the customs entry process, and practical steps to ensure smooth clearance for shipments from Mexico, Brazil, Colombia, Chile, Peru, and other LATAM countries.

What Are Import Bonds and Why Do US Buyers Need Them?

An import bond, also known as a customs bond, is a financial guarantee required by CBP for all commercial shipments entering the United States. It ensures payment of duties, taxes, penalties, and other charges if the importer fails to comply with customs laws. Without a valid bond, CBP will not release your goods. For US buyers importing from Latin America, the bond protects both the government and the importer by covering potential liabilities up to the bond amount. Most importers use a single-entry bond for occasional shipments or a continuous bond for regular imports.

Who Needs to File a Customs Entry and Bond?

Any US buyer importing commercial goods from Latin America valued over $2,500 must file a customs entry with CBP and obtain an import bond. Goods valued under $2,500 may qualify for informal entry, which does not require a bond but still requires a customs declaration. However, many LATAM shipments, such as textiles from Peru, coffee from Colombia, or electronics from Mexico, exceed this threshold. Additionally, certain regulated goods like agricultural products, chemicals, or food items require a bond regardless of value. The importer of record—typically the US buyer—is responsible for filing the entry and securing the bond.

Types of Import Bonds: Single-Entry vs. Continuous

Single-entry bonds cover one shipment and are ideal for infrequent importers. The bond amount is typically set at 10% of the total entered value (including freight, insurance, and duties), with a minimum of $50,000 for most commercial shipments. For example, a shipment valued at $100,000 would require a $10,000 bond, but the minimum applies if the calculation falls below $50,000. Continuous bonds cover all imports for one year and are recommended for businesses importing multiple times annually. The bond amount is usually $50,000 or 10% of total annual duties paid, whichever is higher. Continuous bonds streamline the process and reduce per-shipment costs for frequent importers from Latin America.

Step-by-Step Customs Entry Process for LATAM Imports

The customs entry process begins before your goods arrive at a US port. First, obtain your Importer of Record number, which is your IRS business tax ID or Social Security number for personal imports. Next, classify your goods using the Harmonized Tariff Schedule (HTS) to determine duty rates and any special requirements. For many LATAM products, preferential duty rates may apply under free trade agreements like USMCA (Mexico) or the US-Peru Trade Promotion Agreement. Then, work with a customs broker to file CBP Form 7501 (Entry Summary) electronically through the Automated Commercial Environment (ACE). The broker will also secure your import bond from a surety company licensed by the US Treasury. After filing, CBP reviews the entry and may examine the shipment. Once cleared, the goods are released, and you pay any duties and fees within 10 days.

Timelines and Costs for Import Bonds and Customs Entry

Customs entry filing typically takes 1–3 business days before arrival if all documentation is complete. CBP release can occur within hours for low-risk shipments, but examinations can extend clearance by several days. Import bond costs vary: single-entry bonds range from $50 to $150 per shipment, depending on value and risk. Continuous bonds cost $500 to $2,000 annually, based on estimated duties and compliance history. Additional fees include customs broker fees ($100–$300 per entry), merchandise processing fees (0.3464% of value, capped at $538.40), and harbor maintenance fees (0.125% of value). For example, importing $50,000 worth of Brazilian footwear might cost $100 for a single-entry bond, $150 in broker fees, and $173 in processing fees.

Common Mistakes That Delay Clearance or Incur Penalties

One frequent mistake is failing to secure the bond before the shipment arrives, leading to storage fees and delays. Another is incorrect HTS classification, which can result in underpayment of duties and penalties. US buyers often overlook country-of-origin marking requirements—goods from LATAM must be clearly labeled with their country of origin. Additionally, failing to provide accurate commercial invoices or packing lists causes CBP holds. Some importers mistakenly assume that using a freight forwarder automatically includes customs entry—this must be explicitly arranged. Lastly, ignoring free trade agreement benefits means overpaying duties; for instance, Mexican goods under USMCA may qualify for zero duty if proper certification is provided.

How Coppermont Helps US Buyers Navigate Import Compliance

At Coppermont, we specialize in US-LATAM trade and understand the nuances of customs entry and import bonds for goods from Mexico, Central America, South America, and Africa. Our trade advisors help US buyers determine the right bond type, review documentation, and connect you with vetted customs brokers experienced in LATAM imports. We also assist with HTS classification, free trade agreement claims, and compliance audits to minimize risk. Whether you are importing coffee from Colombia, textiles from Peru, or electronics from Mexico, Coppermont ensures your shipments clear customs smoothly and cost-effectively. Contact us today to streamline your import process and avoid costly mistakes.