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US Foreign-Trade Zone (FTZ) Management
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This article applies to:

  • Product: ONESOURCE Global Trade
  • Sub-Product: US Regimes & Connectivity

FTZ Management: Reports - CF214 Listing, Duty Savings, and Zone Value Reports

CF214 Listing Report

The
CBP214 Listing Report
 screen allows users to generate either an Open or Closed CF214 Report. This screen can be opened by choosing
CF214 Listing
 from the
Reports
 menu.
CF214 Listing Report – Open vs. Closed
Description
Open
A listing of all CF214 entries which have not had all parts shipped out of the zone. This report comes complete with all FIFO inventory layers with existing quantities.
Closed
A listing of all entries that have completely shipped with no parts remaining in the zone.
To generate a report:
  1. Use the
    Transaction Qty Variance
     to set the Transaction Quantity Variance. This value will be used to close minute inventory quantities less than the specified value for the purposes of the report.
  2. Choose a report type
    Open CF214 Report
     or
    Closed CF214 Report
    .
  3. Click
    Generate
    .
A report can be generated as an Adobe PDF (default), Excel spreadsheet, or Word document. These options are available in the
Report Format
 drop-down. To view a generated report, click the associated link.

FTZ Duty Savings Report

The FTZ Duty Savings Report allows users to determine the savings gained through the implementation of a Foreign-Trade Zone system. Savings are calculated in six major areas:
  • Inverted Duty Savings
  • Export Duty Savings
  • Scrap Duty Savings
  • Recoverable Waste Duty Savings
  • Merchandise Process Fee Savings
  • Deferred Duty Savings
This screen can be opened by choosing
FTZ Duty Savings
 from the Reports menu.
FTZ Duty Savings Reports – Calculation Displays
Description
Foreign Goods Duty Savings
Displays the Entered Foreign Value as the total CF7501 foreign part value and both the Potential Duty of the foreign parts and the Actual Duty entered on the CF7501.
Inverted Duty Savings
Displays the Entered Foreign Value as the total CF7501 Non-Preferential Foreign part value. The Potential Duty corresponds to the non-preferential foreign component duty and Actual Duty to the non-preferential finished good duty. The Inverted Duty Savings is derived from paying duty at the finished good rate as opposed to the component rate for non-preferential foreign parts.
Export Duty Savings
Displays the Exported Foreign Value as the total CF7512 part value and the Export Duty Savings, which is the total CF7512 savings. These savings are derived by calculating the amount of duty which would have been paid on the corresponding parts, had they been entered into U.S. territory prior to export.
Scrap Duty Savings
Displays the total of the scrap part value and total scrap savings. This is referred to as the Scrapped Foreign Value. These savings are derived by calculating the amount of duty which would have been paid on the corresponding parts, had they been entered into U.S. territory prior to scrapping.
Recoverable Waste Duty Savings
Displays the Entered Foreign Value as the total part value released from scrap as recoverable and Potential Duty. The Recoverable Foreign Value and Actual Duty correspond to the totals derived from the components entered on the CF7501 once released.
Merchandise Process Fee Savings
Based on filing only one entry per week and having a weekly maximum of $485 of MPF instead of paying MPF on separate entities for each receipt.
Deferred Duty Savings
Displays calculated savings created by delaying the payment of duty from the time of receipt to the time of entry. This calculation uses a given cost of capital provided by the user company’s finance department.
  • Note that the Deferred Duties section of the report shows the Total Deferred Duty and total Deferred Duty Savings aggregated across all transactions included in the report, as well as the Average Days Deferred for all transactions included in the report.
  • Therefore, unless all transactions included in the report have the same number of days deferred, the Deferred Duty Savings shown on the report will not equal the Total Deferred Duty multiplied by the Average Days Deferred and the daily cost of capital.
To generate a report:
  1. Check the appropriate
    Reporting Level
     if more than one Partner ID is listed within a zone.
  2. Specify the
    Beginning Date, Ending Date, MPF Savings Option
    , and
    Cost of Capital
    .
  3. Click
    Generate
    .
  4. Select
    Print Old Report Version
     if the old version of the report is desired.
The MPF Savings Option operates as follows:
  • One Entry Per CF 214 - The FTZ Duty Savings calculates original MPF based on a grouping by 214. Select this option if the assumption is, were an FTZ not setup, each 214 would have been one entry assessed the MPF (with the maximum/minimum MPF applied accordingly).
  • One Entry Per IT - The FTZ Duty Savings calculates original MPF based on a grouping by ITNum. Select this option if the assumption is, were an FTZ not setup, each ITNum would have been one entry assessed the MPF (with the maximum/minimum MPF applied accordingly).
  • One Entry Per Bill of Lading - The FTZ Duty Savings will calculate original MPF based on a grouping by BOL. Select this option if the assumption is, were an FTZ not setup, each BOL would have been one entry assessed the MPF (with the maximum/minimum MPF applied accordingly).
Accordingly, if there is only one ITNum and one BOL per Form 214, each of the three options yields the same result.
A report can be generated as an Adobe PDF (default), Excel spreadsheet, or Word document. These options are available in the
Report Format
 drop-down. To view a generated report, click the associated link.
Checking
Send Report Generation Complete Email
 sends an e-mail so other tasks can be performed as the Product History Report generates. To proceed without a confirmation e-mail, uncheck the box.

Zone Value Report

The Zone Value Report uses the saved monthly balances to display the following information:
• Total values for Non-Preferred Foreign (NPF), Preferred Foreign (PF), and Domestic
• Any additional HTS values
• Total value for each period that balances were saved within the selected date range
• This screen can be opened by choosing
Zone Value
 from the
Reports
 menu.
In order to run this report, users must save Period Balances. These are listed as the
Beginning Date
 and
End Date
 for the report.
To generate a report:
  1. Check the appropriate
    Reporting Level if
     more than one Partner ID is listed within a zone.
  2. Specify the
    Beginning Date
     and
    Ending Date
    .
  3. Click
    Generate
     to create the report.
A report can be generated as an Adobe PDF (default), Excel spreadsheet, or Word document. These options are available in the
Report Format
 drop-down. To view a generated report, click the associated link.

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