HMF Declaration 

Definition

A quarterly declaration to the US authorities that reports the value of goods loaded and unloaded in US harbors.

Use

Maintaining and extending ports and harbors in the US was originally financed by taxes. To ease the burden on US taxpayers, the federal government issued the Water Resources Development Act in 1986 to levy the greater part of the necessary funds directly from those who use the port to import and export goods.

Created by the Water Resources Development Act, the Harbor Maintenance Trust Fund raises 40% of the finances necessary to maintaining US harbors. Most contributions to the fund come from the Harbor Maintenance Fee (HMF), levied each time a ship is loaded or unloaded in a US harbor. This fee also applies to the transport of passengers. Importers and exporters pay the Department of Treasury a fee of 0.125% of the value of the transported goods.

The basis of the HMF declaration is the data the system collects when creating a regular SED (Shipper’s Export Declaration). The system evaluates all dispatches leaving the US from a US port by ship and then totals the value of the goods. The fee is a percentage of this sum.