Question: If the Importer is flagging reconciliation for “Valuation” only, and later discovered that “9802” should have been included as part of the reconciliation program. What are the options at the time of aggregate filing assuming there would be valuation changes to 9802.
Question: We are going through a merger in the up coming weeks and I’ve run into a couple of items I wanted to “run by” the membership. Our legal name and IOR number will change, so I’m issuing revised POA’s with an effectivity date coinciding with the “go-live” of our new company. By the way […]
Question:After a recent internal audit our firm found a large number of undeclared assists over the past five years. We are going to submit a prior disclosure and realize that using the RECON program is a must to ensure these assists are properly added. I think that after submitting the disclosure I would then apply […]
Question: I have about 125 entries that were flagged for reconciliation by a broker that we were testing out while we conducted an RFQ for a new broker. This broker (who wasn’t chosen as our primary and therefore we stopped working with them) has come back to us and advised that while their system […]
Question: I am working on a process for reconciliation. I want to use ACE but I can not find a report in ACE that has the MPF and HMF in it. My broker is saying they can not provide it but I can extract data from their system for their entries. How do I get all […]
Question: For Reconciliation purposes, does CBP offer a free “courtesy no-file report”? If so, how do I obtain a report like this from CBP? I am trying to compile entry information for a reconciliation entry, and I am concerned that I will miss a recon flagged entry. How do the members ensure that areconciliation […]
Question: I would be interested in hearing from any members withdrawn from the reconciliation program. How did you get out of the program? What are the steps? My predecessor signed us up as a concession for valuation issues found during a Focus Assessment. Most of our entries are straight purchases at transaction value. We do […]
Our company manufactures a product in Europe and declares one price upon import into the U.S. We then sell to several different customers at various prices. Does anyone have experience in a reconciliation program of this nature? Can you please share your procedure and the format that you use to present the data?
Question: Under the ACS Reconciliation Prototype does an importer have the option of simply not reporting any addition to the price paid or payable and/or related assist, even if they are known or does the importer have an obligation to at least make an attempt to report/allocate such charges based upon what is known at […]
Question: Does anyone know of an upcoming seminar on reconciliation? We have a diverse group of companies and many people want a better understanding of the program pros, cons, and requirements.
Would you share with me how you in real life implemented in your organization what you consider to be reasonable care in the reconciliation process of price actually paid or payable to value declared on each entry? Is each entry reconciled against payment records? Do you pull 100% of all accounting records per vendor and […]
Last year we started flagging for value reconciliation. We are in the beginning stages of preparing our reconciliation entry for FY2007. I would like to have the most efficient process in place for managing reconciliation. Can anyone comment on the advantages/disadvantages for filing entry-by-entry vs. aggregate reconciliations? Is one much easier to manage? We would […]
