The Entry Summary (CBP Form 7501) is the official document filed with U.S. Customs and Border Protection to formally import cargo into the United States. It tells CBP what the goods are, what they’re worth, where they came from, and how they should be classified under the Harmonized Tariff Schedule — all of which determines what duties you owe.
Two deadlines govern this process, and missing either one is expensive:
- Filing and duty deposit deadline: Both the Entry Summary and estimated duties must be filed and deposited within 10 working days of the cargo’s release from CBP custody.
- Duty deposit deadline: Estimated duties must be deposited within 10 working days of merchandise entry.
For heavy equipment, the Form 7501 is where classification decisions carry real financial weight. The difference between the correct HTS code for a hydraulic excavator (duty-free) and a misclassified one can mean thousands of dollars in unnecessary duties per unit. Your customs broker will prepare this form, but you are responsible for the accuracy of the underlying data — the equipment’s value, origin, and description.
If CBP audits you and finds the 7501 was filed with incorrect information, the liability lands on the importer of record, not the broker.