AMS Finalizes Late Fees, Interest on Past Due Softwood Lumber Assessments

The Agricultural Marketing Service is implementing late fees and interest charges for late payments under the softwood lumber marketing order, in a final rule that takes effect Jan. 1 (here). Under the new regulations, domestic manufacturers and importers of softwood lumber that are 60 days late on sending their assessments must pay a late payment charge of 10% of the total due, as well as 1.5% monthly interest on the outstanding balance. AMS says about 185 domestic manufacturers and 65 importers pay assessments under the softwood lumber marketing order. Another 730 importers bring in less than the minimum amount at which marketing fees are assessed (15 million board feet/year), with 92% of all importers of softwood lumber being exempt from assessments.

(Federal Register 10/29/14)