Feb 15 CBP Bulletin Modifies Ruling on Toy Money
In the February 15, 2012 issue of the U.S. Customs and Border Protection Bulletin (Vol. 46, No. 8), CBP published a notice on its revocation of a ruling and treatment regarding the tariff classification of play paper money.
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Modification Is Effective April 16
CBP is modifying this ruling, as well as any treatment CBP previously accorded to substantially identical transactions, effective for merchandise entered or withdrawn from warehouse for consumption on or after April 16, 2012.
Play Paper Money
| Item: Play paper money measuring 5 and 3/4" by 2 and 3/4". On one side, a picture of the "Richie Rich" cartoon character is printed along with value denominations to resemble real money. The reverse side features a valuable coupon which may be redeemed at a popular children's activity center. |
| New Ruling: HQ W968412 (dated 01/26/12), modifies NY C89928 |
| Old HTS/Rate: 4907.00.00, free (stock, share, or bond certificates and similar documents of title) |
| New HTS/Rate: 4911.99.80, free (other printed matter, including pictures and photographs) |
| Reason: CBP states that heading 4907 is intended for items that are describable as negotiable instruments that have a fiduciary value in excess of their intrinsic value and act as formal documents which confer ownership or title. However, CBP states that unlike items under heading 4907, the subject toy money is marketed to a certain age group and is not intended to have the value or transferability of stocks, bonds, or other commercial certificates. As such, CBP concludes that the toy money is not classifiable under heading 4907. CBP has consistently held that printed coupons are classifiable under heading 4911. Therefore, CBP finds the subject toy money is classifiable in heading 4911 as it lacks any real value until it is redeemed at a cash register. |
(See ITT's Online Archives 11120219 for summary of the proposed modification of this ruling.)