Updated Interest Rates for Additional Duties on Reconciliations

April 23, 2012 by Tim Warren|Customs and Ports

U.S. Customs and Border Protection posted an updated list of the interest rates (updated for the second quarter of 2012) for additional duty payments owed to Customs as a result of reconciliation. CBP notes that when a reconciliation results in additional monies owed CBP, the payment must be made with interest, calculated by the filer using the rates provided in the list. For April 1 - June 30, 2012 the rate is 2%.