The following was taken in part from the NCBFAA:

Customs and Border Protection (CBP) Executive Director for the Trade Programs Directorate in the Office of Trade, Brandon Lord, provided the US Court of International Trade (CIT)  with an update on Consolidated Administration and Processing of Entries (CAPE) Phase 1 declaration filings, as of May 11th at 7:00 AM EDT.

CAPE declarations that have so far passed the file validations cover 15,123,221 entries with IEEPA duties that passed the entry-specific validations and were accepted for the removal of IEEPA duties through CAPE. At the same time, 8,338,081 of the accepted entries have subsequently been liquidated and/or reliquidated without IEEPA duties, Lord said.

According to CBP, the anticipated duty refund and interest amount for the 8,338,081 liquidated and/or reliquidated entries is approximately $35.46 billion. “This amount reflects the sum of the anticipated principal to be refunded and the associated interest due, after removal of the IEEPA duties and the liquidation and/or reliquidation of the entries in accordance with all applicable laws and regulations,” Lord said.

“Anticipated refunds and interest payments for the remaining entries continue to be consolidated by the CAPE Refund component, based on the entries’ importer of record (IOR) or authorized CBP Form 4811 designee and date of liquidation and/or reliquidation,” he added. “CBP’s transmission of these consolidated refunds to the Treasury is subject to confirmation of Automated Clearing House (ACH) account information by CBP prior to transmission.”

In addition, as of 7:00 AM EDT on May 11th, CBP noted 1,880 consolidated refunds have not been transmitted to the Treasury because ACH account information has not been provided by the IOR or its authorized CBP Form 4811 designee.

We will continue to monitor the situation closely and provide updates as developments arise. If you have any further questions or need additional support, please reach out to your RIM Representative.