The reconciliation is due within how many months of the first entry summary flagged for an FTA 520(d) reconciliation?

Reconciliation for transactions flagged under Free Trade Agreement (FTA) provisions, specifically for those related to 520(d), is indeed required to be completed within twelve months of the first entry summary. This requirement is tied to the need for importers to adjust their declared values or other aspects of their importations based on changed circumstances or additional information that may come to light within that year. It allows businesses the necessary time to gather all relevant documentation and provide accurate information to Customs, ensuring compliance with trade regulations and proper tariff classification. This timeframe reflects the importance of accuracy and transparency in international trade, abiding by regulatory demands while also accommodating the realities of business operations.

The other timeframes provided do not align with Customs requirements for the 520(d) reconciliation process, as adherence to the full twelve-month window is essential for ensuring that all reconciled information is thorough and valid.