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In a Federal Register notice to be published on February 16, 2017 U.S. Customs and Border Protection (CBP) will release a general notice publishing the quarterly interest rates for under- and overpayments of customs duties, effective January 1, 2017.

The release specifies that, “the interest rates for overpayments will be 3 percent for corporations and 4 percent for non-corporations, and the interest rate for underpayments will be 4 percent for both corporations and non-corporations.”

The interest rates are set by the Internal Revenue Service (IRS) and are determined every quarter based on the Federal short-term rate.

The Federal Register notice can be accessed:

https://s3.amazonaws.com/public-inspection.federalregister.gov/2017-03140.pdf