Customs Interest Rates Rise to 7 Percent in July
Published Date: 7/1/2026
Notice
Summary
Starting July 1, 2026, the IRS interest rates for customs duty payments and refunds are going up! Both companies and individuals will pay 7% interest on overdue amounts, while refunds will earn 7% for individuals and 6% for companies. If you deal with customs duties, these new rates could affect how much extra you pay or get back this quarter.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
7% Interest on Overdue Customs Duties
If you owe customs duties, starting July 1, 2026 you will be charged 7% interest on overdue amounts for both corporations and non-corporations for the quarter July 1, 2026 through September 30, 2026.
7% Interest on Refunds for Non‑Corporations
If you are a non-corporation (an individual or non-corporate entity) receiving a customs duty refund, starting July 1, 2026 you will receive 7% interest on the refund for the quarter July 1, 2026 through September 30, 2026.
6% Interest on Corporate Refunds
If you are a corporation receiving a customs duty refund, starting July 1, 2026 you will receive 6% interest on the refund for the quarter July 1, 2026 through September 30, 2026.
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Key Dates
Department and Agencies
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