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CustomsForms.org | U.S. Customs Form: CBP Form 301 – Customs Bond

U.S. Customs Form: CBP Form 301 – Customs Bond

U.S. Customs and Border Protection Form 301 is used to file a Customs Bond with the agency. Almost all imported shipments over $2,000 USD (and some smaller ones) are required to be backed by a U.S. Customs Bond issued by a licensed surety.  If your Customs finds your shipment to be subject to liquidated damages due to some violation of Customs law, they will collect the fees from the surety. This protects the U.S. Treasury in the event an importer does not have the resources to meet their obligations.  However, just because the surety pays Customs on your behalf DOES NOT mean that you’re off the hook for the fees.  You are liable to pay the surety for any fees paid to Customs on your behalf.

There are two common types of Customs bonds, single entry and continuous.   A single entry bond is straightforward enough: it is good for one imported shipment only.  A continuous bond, on the other hand, costs quite a bit more and will cover all of your imports for a period of one or more years.  A continuous bond must give you coverage for at least $50,000 against potential liquidated damages, with that amount scaling as a percentage of the declared value of the goods you import.

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