Reconciliation (US)
Also called: entry reconciliation · recon
A US programme that lets importers flag entries for which certain information, such as final value, 9802 value or FTA eligibility, is not known at entry, and later file a reconciliation entry with the final data. The flagged entries are liquidated as to the other elements, while the flagged issues are settled through reconciliation.
In practice
Reconciliation suits importers with transfer pricing adjustments that are only fixed after year end.
Applies to: 
USA
Related terms
- Transfer pricing adjustment
- A change to intra-group prices made after import, often at year end, to bring results in line with the arm's-length principle used for income tax.…
- Liquidation
- CBP's final computation of the duties and fees owed on a US entry, normally about 314 days after entry. After liquidation, duty differences are…
- HTSUS heading 9802
- A US tariff heading that gives partial duty relief for articles returned after processing abroad, such as goods assembled abroad from US-made…
- Entry summary
- The US filing that provides the full data for an import, including HTS numbers, values, origin and duties, and accompanies the deposit of estimated…