Liquidation

Liquidation is CBP's final computation and assessment of the duties, taxes, and fees owed on an entry — the point at which the amount becomes official rather than an estimate paid at entry. CBP normally liquidates within about 314 days of entry and can extend up to a statutory limit; if it fails to act within one year (absent a valid extension or suspension) the entry is 'deemed liquidated' at the rate the importer declared. For example, an importer who paid estimated duty at entry learns at liquidation whether CBP agrees, bills more, or owes a refund. It matters because liquidation starts the clock on the importer's right to protest and is the event a refund ultimately attaches to.