Reconciliation

When close enough isn't good enough.

 

When it comes to customs data entry, accuracy is essential. Unfortunately, there are many elements of a transaction which may be undeterminable at the time of entry.

 

Reconciliation provides a solution to these challenges, allowing the importer to determine NAFTA eligibility, valuation or classification at a later date, reducing the risk of compliance violations and removing the guesswork from your entry filings.

Reconciliation is a national U.S. Customs and Border Protection program. FedEx Trade Networks is capable of providing service for all ports, and is managed by a team of dedicated professionals in our Reconciliation Department, who will be assigned to your account.


Features: Benefits:
  • All 4 types of reconciliation are supported:
    • Value
    • 9802
    • Classification
    • NAFTA
  • Provides importers with the ability to amend information that is undetermined or not available at time of entry without disrupting their supply chain.
  • Costs are cheaper than filing post-entry claims or protests
  • Entry Flagging
    • Individual
    • Blanket
  • Entries can be flagged individually or at all ports (blanket flag) to ensure that only those entries requiring reconciliation are monitored and amended
  • Flagged Entry Report direct from CBP
  • Accuracy based on CBP's own FOIA data. Flagged entries are monitored so that reconciliation is completed timely without incurring failure-to-file or late-file penalties
  • Two different filing options:
    • Entry-by-Entry
    • Aggregate
  • Choose the filing option that fits your needs
  • ABI Processing
  • Reconciliation entries are filed through the Automated Broker Interface for faster processing and acceptance by CBP, including ABI edits for compliance
  • Re-calculation of duty & tax
  • The reconciliation entry includes automatic re-calculation of duty and tax to determine if any money will be owed or refunded
  • Preparation of duty payment
  • Duty and interest will be deposited with CBP as needed on the appropriate ACH statement to ensure timely payment
  • Refund processing
  • Refunds plus interest will be issued by CBP within 30 days of liquidation
  • Importer Audit Control
  • Allows the importer to review and approve the reconciliation entry before it is finalized and transmitted to CBP
  • My Global Trade Data (GTD)
  • Free access to images online, ABI results and real-time entry status for all underlying entries
  • Liquidation monitoring
  • Reconciliation reporting

Please note the following entry types which are not eligible:

  • Entry Type 03 — Entries subject to anti-dumping and/or countervailing duty
  • Entry Type 11 — Informal entries
  • Entry Type 23 — Temporary Importation Bonds (TIBs)

Find out how FedEx Trade Networks Transport & Brokerage, Inc. can streamline your customs entry filings.

Question? Email us or call 1.734.229.4218.


FedEx. Solutions That Matter.SM