Customs has announced that the reconciliation prototype will finally transition from ACS to ACE on February 24th of 2018.
After a few rounds of delayed implementation dates, the ports are actively liquidating Reconciliation filings to clean up before the deployment. We think the switch to ACE might actually happen this time.
There are some major changes that are coming to the program that the importing community should be aware of.
The application process to file reconciliation will be eliminated. The act of obtaining a bond rider will be the importer's way of letting CBP know of their intention to start flagging entries.
All ports/CEEs will now be processing reconciliations. Not just the 13 that have done so in the past.
Customs will be turning off “Blanket Flagging.” This means that importers will need to work with their brokers to ensure entries are being flagged properly and according the importer’s instructions.
The process is going paperless. After years of sending in physical entry packets and CDs, the filing process will be completely electronic. However, importers may still send in paper checks for additional duties, fees, and interest.
To be certain, the importance of using reconciliation as a compliance tool has not changed. Customs still has a vested interest in making sure that values of imported merchandise are declared correctly.
This is an exciting time for the trade community as there have not been changes like this to reconciliation... ever. At the same time, changes like this can be burdensome and difficult to manage.
The process is new to CBP, filers, and importers and will require some focused attention and patience in the short term. below is a step-by-step guide to the new Reconciliation process.
Tradewin is here to walk you through the new Reconciliation process! Please don't hesitate to reach out for any questions that you may have about the new process.