Changes published today in CBP Admin Message CSMS# 19-000310 Interest Rates for Reconciliation
Effective July 2019, CBP will no longer publish on CBP.gov the quarterly interest rates for Reconciliation. Filers can find the quarterly rates on the www.irs.gov website by querying “quarterly interest rates for (YYYY)” in the search engine located on the upper right hand corner of the webpage.
section of the ACE Business Rules will be updated with the above website for
identifying the quarterly rates.
If you have any questions or require
additional information, please email OT-RECONFOLDER@CBP.DHS.GOV, Commercial
Operations, Revenue and Entry Division, Office of Trade.
ACE FILING NOTICE – RECON
According to to CBP CSMS# 18-000689, issued today, November 21, when filing a reconciliation for a Free Trade Agreement issue, ACE is displaying incorrect original paid amounts. Until headquarters issues further guidance, filers should submit the reconciliation header information in the Document Imaging System (DIS) when filing the reconciliation with a FTA issue.
If you have any questions or require additional information, please send an email to
OT-RECONFOLDER@CBP.DHS.GOV, Commercial Operations, Revenue and Entry Division, Office of Trade.
As you know, CBP delivered ACE Deployment G, Release 4, on Saturday, February 24th, as promised. One of the critical pieces of this deployment was moving reconciliation entries into ACE, along with drawback, liquidation and other functionality. Read our prior blog on this deployment.
Now, CBP has made long-awaited ACE REPORT ENHANCEMENTS relating to recon. On March 17th, 2018, CBP has deployed two new universes and nine new standard reports in ACE, to further support the transition of reconciliation into ACE. These enhancements are meant to provide the trade with all necessary information for reconciliation filing. Read CSMS #18-000229 – ACE Deployment G Reports Deployment – March 17, 2018 here.
For example, ACE ES-501 is a report showing all open entries flagged for recon. ES-502 provides bond information.
In fact, on April 14, 2018, the Authorized Data Extracts will be retired, and effective this date, all reports capabilities will reside in ACE Reports.
For more information, please review the ACE Deployment G Reports Information Notice for Trade.
CustomsNow is an ACE-certified software vendor and compliance consulting company, whose clients are brokers, importers, exporters, forwarders, and more. We have an excellent reconciliation solution, which allows filers to upload underlying entry data from any/all various original filers to a single recon. Contact us to learn more.
With the processing of reconciliation entries transitioning to ACE on February 24, 2018, we wanted to let our readers understand the practical results. For instance:
- ACE will be the sole mechanism to file Reconciliation entries (even if the underlying entries were filed in ACS)
- Importers may choose the port in which to file
- CBP will no longer blanket flag an importer’s entries for Reconciliation. Self-filing importers, as well as those entries processed by a 3rd party broker, will need to be flagged individually.
- You cannot file a PSC to adjust an entry to be flagged for Recon. The only recourse is to request that CBP flag your entry retroactively. This request must be made within 60 days of liquidation.
- Importers indicate whether any of the underlying entries in a Reconciliation entry were subject to a prior disclosure
- No-change Reconciliations will only need to identify the underlying entry numbers and original entered values, duties, and fees not being reported for aggregate or entry-by-entry Reconciliations.
CBP will also no longer provide the MasterFile Extract and Liquidation Extract Reports to importers that provided detail on entries flagged for Reconciliation. Importers may utilize ACE reports to identify those entry numbers going forward. For an unknown limited amount of time, ITRAC reports will also still be available; though it is likely they will be discontinued as well.
While we look forward to certain aspects of CBP’s transition of Reconciliation entries to ACE, such as the elimination of reporting of original values, duties, and fees, there are some aspects of which we are wary. In particular, because CBP can no longer blanket flag entries and will only grant retroactive requests to flag at its discretion and for a limited amount of time, it is very important to both trust and monitors your customs brokers’ entry flagging.
Importers can work with their customs brokers to enact a blanket flag, just as CBP had been doing, or if they had been entry-by-entry flagging, work with their customs brokers to mimic the conditions for which they had been previously flagging their entries. Additionally, given the glitches, we have seen when other programs have transitioned to ACE, and the fact that many Reconciliation entries are due in October, importers, and CBP should allow ample time to sort things out before the first Reconciliation due date arrives. Read more here.
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