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UPDATED: 5/7/05
 

Reconciliation

Reconciliation is a new process available to importers for reporting certain post-summary changes to Customs.   This prototype is available to all importers, who meet eligibility requirements.  After meeting the requirements, filers can begin "flagging" entries for reconciliation.  These changes can include, value, classification and NAFTA eligibility.

Application

A letter must be submitted to customs that contains the following information:
  • Name, address and IRS number of applicant.
  • Name and filer codes for all brokers who will file on importers behalf.
  • Continuous Bond information, including surety name and number.
  • Bond rider for reconciliation. (Must be filed in the same port as continuous bond).
Flagging of Entry Summary

The method of notifying Customs of an entry that is going to be reconciled at a later date is done by a method called "flagging". When the broker transmits the entry summary to ABI, it must be flagged for one of the three possible issues. Entries can be flagged for classification, value, and NAFTA eligibility.   However, classification may only be reconciled in the event the importer is waiting for lab tests, rulings, or court decisions.

Filing of reconciliation

After the flagged entry summary has been submitted, the reconciliation entry (type 09) must be filed with the correct final data and payment if required. The reconciliation entry can be on an individual or aggregate basis.

The reconciliation entry must be filed during the appropriate time period:
  • NAFTA issues have 12 months from the date of entry.
  • Value and classification have 15 months from the date of entry.
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