A U.S. Customs and Border Protection (CBP) Reconciliation Entry is a voluntary post-import customs process that allows importers to finalize uncertain elements, such as transfer pricing adjustments, after goods enter the U.S. while maintaining compliance with CBP valuation rules and Section 482 of the Internal Revenue Code's arms-length requirements.
When filing a reconciliation entry, you have 12 months from the date of importation to correct FTA information and 21 months from the date of the entry summary to correct value, classification, and the 9802 status of the imported merchandise.
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