CBP Issues Updated Guide On the ACS Reconciliation Prototype
U.S. Customs and Border Protection (CBP) has posted to its Web site an updated version of its guide entitled ACS Reconciliation Prototype: A Guide to Compliance (Version 4.0, dated September 2004).
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
According to CBP, Version 4.0 of the guide updates and amends the March 2002 Version 3.0 of the guide. (See ITT's Online Archives or 03/14/02 news, 02031415, for BP summary of Version 3.0.)
CBP states that the changes in Version 4.0 are related to the North American Free Trade Agreement (NAFTA) and the U.S.-Chile Free Trade Agreement (UCFTA or US- CFTA) provisions and the requirement for presentation on a compact disk (CD) instead of two floppy disks. CBP notes that there is an additional clarification and expansion of several areas of the text. One change not noted by CBP is that Version 4.0 does not contain an appendix on Supplemental Information Letters (SILs), as did Version 3.0.
CBP's updated guide is divided into three sections, each discussed below:
Section I - Introduction
This section of CBP's updated guide provides a background and overview of the ACS Reconciliation prototype. This section addresses issues such as the concept of Reconciliation, exclusive means, and alternatives to Reconciliation (e.g., Supplemental Information Letters (SILs), prior disclosure, etc.) This section also discusses eligibility for participation in the ACS Reconciliation prototype.
Section II - ACS Reconciliation Process
This section of Customs' updated guide describes the ACS Reconciliation process and addresses six aspects of the ACS Reconciliation prototype:
flagging entry summaries (determining entry summary eligibility, submittal of flagged underlying entry summaries, bond information, impact on drawback claims, and requesting flagged entry reports, etc.)
filing Reconciliations (types of Reconciliations, time frames, NAFTA-UCFTA issues, liquidated damages, flag combinations, multiple Reconciliations, etc.)
structure and submission of Reconciliations (header, association file, summarized line item data spreadsheet, payment methodologies and physical submission of Reconciliation, recordkeeping requirements, etc.)
payments/refunds (taxes and fees, determining interest due, impact on drawback, etc.)
filing locations
CBP's acceptance and processing (liquidation of Reconciliations, rejection of Reconciliations, etc.)
Section III - Appendices
The third section of Customs' updated guide consists of various Reconciliation-related appendices:
Acronyms and Definitions
Examples
Frequently asked questions
Processing port addresses
Federal Register notices
(See ITT's Online Archives or 09/03/04 news, 04090305, for BP summary of CBP notice announcing modifications to the ACS Reconciliation prototype for U.S.-Chile FTA claims and the use of a compact disk for submitting Reconciliation spreadsheets.)
Updated guide (Version 4.0, dated September 2004) available at http://www.cbp.gov/linkhandler/cgov/import/cargo_summary/reconciliation/reference_desk/acs_recon_guide.ctt/acs_recon_guide.pdf.
CBP ABI administrative message (Adm: 04-2436, dated 11/19/04) announcing the availability of Version 4.0 available at http://www.brokerpower.com/cgi-bin/adminsearch/admmsg.view.pl?article=2004/2004-2436.ADM.