§ 1607. Seizure; value $500,000 or less, prohibited articles, transporting conveyances
(a)
Notice of seizure
If—
(1)
the value of such seized vessel, vehicle, aircraft, merchandise, or baggage does not exceed $500,000;
(3)
such seized vessel, vehicle, or aircraft was used to import, export, transport, or store any controlled substance or listed chemical; or
(4)
such seized merchandise is any monetary instrument within the meaning of section
5312
(a)(3) of title
31;
the appropriate customs officer shall cause a notice of the seizure of such articles and the intention to forfeit and sell or otherwise dispose of the same according to law to be published for at least three successive weeks in such manner as the Secretary of the Treasury may direct. Written notice of seizure together with information on the applicable procedures shall be sent to each party who appears to have an interest in the seized article.
(c)
Report to Congress
The Commissioner of Customs shall submit to the Congress, by no later than February 1 of each fiscal year, a report on the total dollar value of uncontested seizures of monetary instruments having a value of over $100,000 which, or the proceeds of which, have not been deposited into the Customs Forfeiture Fund under section
1613b of this title within 120 days of seizure, as of the end of the previous fiscal year.