ACE Reports Continue to Highlight Duty Savings Opportunities
U.S. Customs and Border Protection is continuing to retire old Automated Commercial Environment reports and launch new ones, providing a wealth of information that importers can use to boost compliance and duty savings efforts.
In October 2017 CBP made available a number of new reports enabling users to query a more robust set of data elements that have been normalized for both ACS and ACE sourced entry summaries. More recently, CBP has deployed new statements, reconciliation, drawback, and liquidation universes that provide even more resources for reports to draw from. In the future, CBP plans to develop reports for ACE functionality yet to be deployed, including foreign-trade zone e214 admissions and Section 321 (de minimis) transactions.
The data available through these resources can help importers identify ways to save money, especially with respect to Section 232 and 301 import tariffs. The data also allows importers to avoid or minimize enforcement actions by spotting potential problems before CBP does or indicating when CBP is reviewing a company’s imports.
However, CBP has started to retire some reports as well.
For more information on ACE reports and how they can benefit your business, please contact Tom Gould at (213) 453-0897.
© , Sandler, Travis & Rosenberg, P.A. Originally published in the [01/29/2019] issue of the Sandler, Travis & Rosenberg Trade Report. Reprinted by permission.