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What is a consumption entry?
A consumption entry is one type of entry and used when goods are imported for use in the United States and going directly into the commerce of the U.S. without any time or use restrictions placed on them, which covers about 95% of all entries. When we say for use in the United States, we mean for commercial, business or personal purposes.
A consumption entry may be formal or informal depending on the circumstances. However, the majority of consumption entries are formal and the goods that are being imported for commercial purpose and/or “resaleâ€, which requires filing an Entry Summary (CBP 7501) and acquiring a CBP bond (CBP 301). This covers a broad range of commodities (i.e. textiles, electronics, food etc.) entering the U.S. For example, a commercial shipment of textiles being shipped from China to a distributor in the United States, would be a formal consumption entry. However, if the textiles were going to a warehouse prior to the distributor, a formal warehouse entry would have to be filed.
A consumption entry for goods entering the U.S. as informal entries are not necessarily filed on a CBP 7501. Various forms are used for informal consumption entries and usually no CBP bond (CBP 301) is required. Informal consumption entries generally cover shipments intended for the importers' personal use or commercial goods entering the U.S. via air, ship or mail for consumption that are valued less than $2,000. This does not include commodities subject to other Federal agency regulations, most textiles, or goods subject to quota/visa restrictions. For example, a shipment of furniture being shipped from Indonesia to a homeowner in the United States valued at $6,000 would most likely be an informal consumption entry because the goods are intended for their personal use.
In addition to consumption entries, other entry types are used to clear goods entering the United States. Some entry types include warehouse, transportation, temporary importation under bond (TIB), permanent exhibition, trade fair, carnets, drawback, foreign trade zone, vessel repair, and appraisement FTZ™s entries.
Customs & Border Protection (CBP), Department of Homeland Security
http://www.cbp.gov/
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