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COBRA Fees Adjusted for Inflation in FY2024

Home News COBRA Fees Adjusted for Inflation in FY2024

COBRA Fees Adjusted for Inflation in FY2024

Customs and Border Protection (CBP) published in a July 28 Federal Register notice outlining adjustments to certain customs user fees and corresponding limitations established by the Consolidated Omnibus Budget Reconciliation Act (COBRA) for Fiscal Year 2024.

The Merchandise Processing Fee (MPF) ad valorem rate of 0.3464 percent will NOT change. The MPF minimum and maximum for formal entries (class code 499) will change. The minimum will change from $29.66 to $31.67; and the maximum will change from $575.35 to $614.35.

Some other fees that are changing for customs brokers include the Surcharge for Manual, Formal Entry/Release (class code 500) changing to $3.80 and the fee for Informal Entry/Release, automated and not prepared by CBP personnel (class code 311a), becoming $2.53.

The adjusted amounts of customs COBRA user fees and their corresponding limitations set forth for FY2024 are required starting Oct. 1, 2023.

Source: U.S. Customs and Border Protection

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