[Code of Federal Regulations]

[Title 19, Volume 2]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 19CFR146.25]



[Page 101]

 

                        TITLE 19--CUSTOMS DUTIES

 

   CHAPTER I--BUREAU OF CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF 

        HOMELAND SECURITY; DEPARTMENT OF THE TREASURY (CONTINUED)

 

PART 146_FOREIGN TRADE ZONES--Table of Contents

 

          Subpart B_Inventory Control and Recordkeeping System

 

Sec.  146.25  Annual reconciliation.



    (a) Report. The operator shall prepare a reconciliation report 

within 90 days after the end of the zone/subzone year unless the port 

director authorizes an extension for reasonable cause. The operator 

shall retain that annual reconciliation report for a spot check or audit 

by Customs, and need not furnish it to Customs unless requested. There 

is no form specified for the preparation of the report.

    (b) Information required. The report must contain a description of 

merchandise for each zone lot or unique identifer, zone status, quantity 

on hand at the beginning of the year, cumulative receipts and transfers 

(by unit), quantity on hand at the end of the year, and cumulative 

positive and negative adjustments (by unit) made during the year.

    (c) Certification. The operator shall submit to the port director 

within 10 working days after the annual reconciliation report, a letter 

signed by the operator certifying that the annual reconciliation has 

been prepared, is available for Customs review, and is accurate. The 

certification letter must contain the name and street address of the 

operator, where the required records are available for Customs review; 

and the name, title, and telephone number of the person having custody 

of the records. Reporting of shortages and overages based on the annual 

reconciliation will be made in accordance with Sec.  146.53. These 

reports must accompany the certification letter.