Reconciliation is a Customs procedures which allow an importer to file Entry with the best available information. After 18-21 months, once the importer determines actual information of the imported goods, the importer will notify Customs of the difference. Then, Customs will recalculate the duties, taxes and fees based on the information provided by the reconciled entry and the entry will be liquidated with refund or additional duty payment.
The Reconciliation participant has to file the initial and reconciled entry while still abiding by all the rules and regulations set forth by U.S. Customs & Broder Protection. Please contact our offices for specifics on setting up your company for Reconciliation Entry.