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U.S. importers are now eligible to claim $127 billion in tariff refunds, and those refunds could help importers and businesses get ahead financially. The tariff refunds are being issued in phases, and approximately $127 billion in refunds could be claimed during the first phase. The process of claiming a refund isn't exactly straightforward, and many businesses, including small and mid-sized importers, may not be aware they qualify.
If you have a retail business and import goods, here's how to tell if you might qualify for a refund.
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Why tariffs are being refunded
On February 20, the Supreme Court ruled that Trump's implementation of new import tax rates under the International Emergency Economic Powers Act (IEEPA) was illegal. The Supreme Court found that his actions violated Congress' tax-setting authority.
How many businesses are affected
With the tariffs ruled as illegal, the government must repay those tariffs, plus interest, to the businesses that paid them. Court filings by Customs and Border Protection revealed that over 330,000 importers paid about $166 billion in illegal tariffs on more than 53 million shipments.
Out of this number, only 56,497 importers have registered with the Customs and Border Protection electronic system, which is required to be eligible for refunds. Given the small response from importers so far, and the complex nature of the tariff refunds, it's likely that many businesses and importers may not yet be aware that they qualify for the refunds.
How the refund process is structured
The Consolidated Administration and Processing of Entries (CAPE) program is designed to facilitate the processing of the refunds, and it's being rolled out in phases. During Phase 1, about $127 billion in refund checks is expected to be processed.
U.S. Customs and Border Protection has created a new ACE Secure Data Portal to consolidate the refund process so that refunds don't have to be processed one-by-one. Importers and businesses were eligible to start claiming refunds via the portal at 8:00 am on April 20th.
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Who is eligible for refunds in Phase 1
During Phase 1, refund eligibility is limited to importers and retailers whose tariffs were estimated, but not finalized. Accounts whose tariffs are within 80 days of a final accounting are also eligible.
To apply for a tariff refund, an applicant must be the Importer of Record or the licensed customs broker who filed the original tariff entry. Applicants must also have an active account on the ACE Secure Data Portal, plus they must sign up for ACH refunds.
How the tariff refund process works
The claims process is technical, so most businesses use a customs broker or trade attorney. To request a refund, an importer or broker must submit a CAPE Declaration via the ACE Secure Data Portal. The Declaration is a CSV file that lists all of the entry numbers for shipments that were charged the illegal tariffs.
Once the Declaration is received, Customs and Border Protection plans to validate each entry, remove the tariff provisions, and then recalculate the duties without the tariffs. The broker or importer is going to then receive an ACH transaction for the difference. However, if the formatting or data is incorrect, the Declaration submission may be rejected.
How long before refunds are processed
According to Customs and Border Protection, refunds should take 60 to 90 days once a Declaration is accepted. It's likely that many submissions are going to be processed, and the process is relatively complex, which may extend the timeline.
Customs and Border Protection hasn't shared any information about when the system might be open to all importers and businesses to request tariff refunds.
Additionally, it's possible that the Trump administration could take additional actions to attempt to reduce tariff refund size or even delay the tariff refund process, so the timelines and process may shift.
Problems with the tariff refund process
The tariff refund process has drawn criticism, including from U.S. Democratic Senator Ed Markey. Markey noted that big corporations that passed tariff costs onto consumers are positioned to benefit the most from the refund system, since these large corporations are better positioned to deal with the complex application process and any challenges might arise.
Markey criticized the administration for not issuing automatic refunds, noting that the process is complicated and likely to prolong the wait for refunds.
How the tariff refunds impact consumers
Since businesses and importers paid the initial tariffs, the refunds are only being issued to those businesses and importers. While many businesses passed the tariff costs onto consumers, consumers aren't entitled to receive that money back.
Some businesses, like FedEx, have committed to reissue refunds to consumers who originally paid for imported packages. Costco has also spoken out, stating that it is going to return tariff refunds to customers by offering lower prices on its products.
Bottom line
Though you might not receive tariff funds yourself, the small businesses in your life, like a family-owned retailer or manufacturing operation, might greatly benefit from tariff refunds. These smaller businesses are some of the ones that felt the financial strain of extra costs the most, and refunds could offer financial relief during a trying time. To determine if any of their prior imports qualify, businesses could check with a licensed customs broker.
Tariffs drove up the costs of many goods, and hopefully, prices are going to come down without the effects of those tariffs. In the meantime, you may want to focus on smart shopping tips to save money on groceries and other essential items.
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