Payment due dates are approaching for estimated duties, taxes, and fees that were postponed earlier this spring by importers suffering a significant financial hardship due to the COVID-19 pandemic, according to a recent U.S. Customs and Border Protection notice.
For questions or assistance, please contact Lenny Feldman at (305) 894-1011 or Nicole Bivens Collinson at (202) 730-4956.
On April 20, CBP postponed the deadline for such payments for 90 days for formal entries of goods entered or withdrawn from warehouse for consumption (including from foreign-trade zones) in March and April. However, this deferral did not apply to goods subject to antidumping or countervailing duties or Section 201, 232, or 301 tariffs.
CBP has now provided the following information on the dates that deferred payments will be due.
- Certain estimated duties, taxes, and fees paid on a single day basis or daily statement may have been postponed up to 90 days. For example, if the original due date was April 30, the new due date is July 29.
- Estimated internal revenue tax paid via the deferred excise tax program referenced in 19 CFR 24.4 (which allows for deferred payment of estimated excise taxes on imported beer, wine, and distilled spirits on a bi-weekly basis) may have been postponed up to three months from the payment due date. For example, if the original due date was May 14, the new due date is Aug. 14.
- Certain estimated duties and fees paid via periodic monthly statement may have been postponed up to three months, as defined by the 15th working day of the third month. For example, if the original due date was April 21, the new due date is July 22.
- If an entry summary is removed from a PMS and placed on a daily statement, the payment due date will be calculated from the date the daily statement payment would have been due. For example, with a date of entry of April 2, a date of entry summary of April 16, and an original due date on the scheduled PMS of May 21, a three-month postponement would expire Aug. 21. If the entry summary is removed from the August PMS and placed on a daily statement, the new payment due date is July 16.
CBP states that no interest will accrue for postponed deposits but that deposits made after the new due date may be subject to interest. In addition, no penalty, liquidated damages, or other sanction will be imposed for postponed deposits if paid by the new due date.
CBP recommends that importers and filers work with their financial institutions to ensure awareness of both the regularly scheduled and postponed deposits of estimated duties, taxes, and fees that will need to be submitted in the coming weeks.
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