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Importers into the US could soon receive payments with the first wave of tariff refunds starting May 12. Following the Court’s striking down of Trump’s International Emergency Economic Powers Act (IEEPA) tariffs, the Customs and Border Protection (CBP) began developing a refund system. The CBP created the Consolidated Administration and Processing of Entries) Portal on April 20. CAPE is a system for refunding importers who paid IEEPA levies on goods they brought into the US. The process, however, was challenging for inexperienced or first-time importers. With the first wave of refunds starting soon, shippers should understand what to expect and how to receive refunds.
Because the refund process can be complex for some importers, there is certain information they should understand. Although CBP mentioned that the first refunds will begin on May 12, key factors will determine the exact date. For example, CAPE may process unliquidated entries faster than liquidated ones. The reason is that liquidated entries require a formal protest within 180 days, which can delay processing. Delays can also come from inaccuracies when filling in the CAPE portal. The filing time is another important consideration, with earlier filers likely to receive their funds sooner. Due to the high volume of portal submissions, many importers may receive refunds within 60 to 90 days after filing.
While the tariff refunds will benefit shippers who imported cargo under IEEPA levies, it is likewise important to be prepared. Before filing, shippers should ensure their ACE (Automated Commercial Environment) portal is properly set up. When filing, importers must confirm that all information is accurate and error-free. Filers must have the correct HTS classification, importer of record, and the correct entry numbers. Shippers must be aware that refunds are eligible for unliquidated entries and for entries within approximately 80 days of liquidation. Importers should also stay current on refund news by checking websites such as the CBP site, which provides updates.
Despite the article’s guidance on preparing for tariff refunds, it can still be confusing for inexperienced shippers. A small mistake can lead to delays and even denial of repayment. Another way to prepare is to speak with a 3PL (third-party logistics) provider, such as A1 Worldwide Logistics, before starting. A 3PL is an external company that handles numerous supply chain parts on behalf of a company. Some solutions include customs clearance, domestic shipping, freight forwarding, and warehousing. 3PL’s have customs brokers that help importers understand the CAPE system for receiving tariff refunds. Contact us at info@a1wwl.com or 305-425-9456 to learn about our 3PL solutions for ensuring your shipment’s success.
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