When are warehouse entries considered liquidated?

Warehouse entries are considered liquidated on the date of the last withdrawal. This means that the final determination regarding the duties owed and the overall status of the entry is made after the last withdrawal from the warehouse has occurred.

The liquidation process involves assessing all relevant information, including the final quantity and value of the goods withdrawn from the warehouse. Once the last withdrawal takes place, the entry qualifies for liquidation, allowing customs to finalize the assessment and establish the duties due. This ensures that all transactions related to the goods are accounted for before closing the entry.

Understanding the timing of when warehouse entries are liquidated is vital for customs brokers to accurately manage compliance and reporting obligations.