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April 2020 - Potential Deferment of Duties Payments Based on Financial Hardship

Tuesday, April 28, 2020   (0 Comments)
Posted by: Kim Libucki
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Last week, President Trump issued an Executive Order that granted the Secretary of Treasury the ability to defer the payments of certain duties, taxes and fees. The Department of Treasury and U.S. Customs and Border Protection have issued a Temporary Final Rule which provides the details on how to qualify for the deferment program, which began April 20. The joint statement can be viewed here.
CBP has issued a set of CSMS messages on with the program overview and payment instructions:
In general, here are the details for the temporary deferral program -
  • This temporary postponement applies to formal entries made in March 2020 or April 2020.
  • This temporary postponement does not apply to entries that includes merchandise subject to a trade remedy action (AD/CVD, 301, 201, 232).
  • In order to qualify for the program, an importer must demonstrate a significant financial hardship:
    • The operation of an importer is fully or partially suspended during March 2020 or April 2020 due to orders from a competent governmental authority limiting commerce, travel, or group meetings due to COVID-19; and
    • As a result of such suspension, the gross receipts of such importer for March 13-31, 2020 or April 2020 are less than 60 percent of the gross receipts for the comparable period in 2019

The HCA will continue to serve members through advocacy and communication. We have put together a COVID-19 (need your username and password to access) resources page to help members navigate through the challenges we are facing due to COVID-19. 
If you have any questions, please contact Michele Buggy.