Starting June 4, 2011, entry filers will be able to correct entry summaries electronically using the Post Summary Corrections (PSC) feature in ACE. PSC replaces the Post Entry Amendment for ACE entry summaries. PSC allows importers to make electronic corrections to entry summaries already submitted and accepted by CBP. The PSC is considered a replacement of the entry summary data. Corrections must be submitted by transmitting a PSC, as the use of the PEA for an ACE entry summary will not be allowed 90 days after June 4.
The PSC must be transmitted within270 calendar days of the date of entry and the PSC cannot be filed within20 calendar days of the scheduled liquidation date. A PSC cannot be filed for Entry Type 11, informal entries and a filer cannot change an Entry Type 43 (AD/CVD) entry to another type. Although CBP indicates there will not be any limit to the number of PSC submissions for an entry summary, the trade should be cautious. Making one or two submissions for one entry might be reasonable, but submitting 30 separate changes for one entry summary might raise some red flags.
Click HERE for details on the requirements for filing Post Summary Corrections.
1 comment:
I was really looking forward to this until I found out that none of my brokers make ACE entries.
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