Anchor Accounting Services
IEEPA Resource Hub
A centralized resource center for the latest IEEPA tariff recovery developments, including court guidance, CAPE rollout updates, filing implications, execution risks, treasury considerations and practical recovery insights. This page is designed to help businesses, advisors, capital partners and service firms stay current as the program continues to evolve.
Current Program Snapshot
CAPE Phase 1 Is Live, But It Only Covers Part of the Refund
CBP has launched CAPE Phase 1 inside ACE, allowing eligible Importers of Record and authorized brokers to submit IEEPA refund declarations. However, Phase 1 mainly covers unliquidated and recently liquidated entries, while finalized and more complex claims are expected to move through later phases.
Source: U.S. Customs and Border Protection (CBP) Trade Information Notice
Phase 1 Refunds May Arrive in 60–90 Days, But Timelines Can Extend
Valid Phase 1 refunds are generally expected within 60–90 days after CAPE Declaration acceptance, but compliance concerns, filing errors, government review, and post-submission issues can delay payment.
Source: Supply Chain Dive
The Recovery Opportunity Is Massive, With Strong Importer Demand
The refund opportunity is estimated at approximately $166B before interest and may exceed $175B with interest included. Tens of thousands of importers have already registered, showing strong urgency and market demand.
Source: Business Insider
CAPE Requires Clean Data, ACE Readiness, and Proper Authorization
Successful submission requires more than basic eligibility. Importers need entry-level data, CSV formatting, ACE access, refund-specific banking setup, and correct authorization from the Importer of Record or filing broker.
Source: U.S. Customs and Border Protection
Early CAPE Issues Reinforce the Need for Active Execution Support
Portal errors, access issues, support delays, and phased filing requirements show that IEEPA recovery is not a simple “file and wait” process. Anchor’s value is in helping manage the process from claim preparation through monitoring, issue resolution, payout readiness, and closeout.
Source: CBS News
Featured Update
CAPE Phase 1 Is Live, But Recovery Is Still Phased and Operationally Complex
CBP launched Phase 1 of CAPE inside ACE on April 20, 2026, allowing eligible Importers of Record and authorized brokers to begin submitting IEEPA refund declarations. Phase 1 covers only part of the refund, primarily certain unliquidated entries and entries within the recent liquidation window. It does not fully cover finalized entries, reconciliation entries, drawback claims, protest-related entries, or other more complex claim types, which are expected to be handled in later phases.*
This confirms that IEEPA recovery is now active, but still not a one-and-done filing event. For many businesses, the process will require clean data, correct authorization, phase-aware submissions, and ongoing follow-through as later phases become available.
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Recent Developments
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Tariff Refunds Are Arriving. Now Comes the Hard Part.
CNBC reports that the first wave of tariff refunds has started reaching businesses after the Supreme Court ruled certain Trump-era tariffs unlawful. Companies such as Oshkosh and Basic Fun have reported receiving partial payments, while CBP has processed roughly $35.46 billion in refunds across 8.3 million shipments as of May 11. In one reported example, a recipient had only received around 5% of what they believe is owed. The rollout also raises practical questions around remaining balances, refund timing, reconciliation, and whether customers who absorbed tariff-related costs may seek a share of recovered funds.
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Trade Court Strikes Down Trump’s 10% Universal Tariffs
Axios reports that the U.S. Court of International Trade ruled Trump’s newest 10% universal tariffs illegal, finding that Section 122 of the Trade Act of 1974 does not give the president broad authority to impose across-the-board tariffs in this way. The ruling shows that tariff policy remains legally unstable even after the IEEPA decision, with courts continuing to scrutinize emergency or temporary tariff authorities. However, the injunction is narrower than the earlier IEEPA ruling, and tariff collections are expected to continue for most importers while the administration appeals.
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He Recorded His Quest for Tariff Refunds. It Shows Why Billions May Never Get Repaid
NPR follows Richard Brown, owner of Proof Culture, a small sneaker-accessory importer that may be owed up to $25,000 in tariff refunds — about 10% of the company’s prior-year revenue. The piece is useful because it shows how difficult recovery can be for small importers that lack customs brokers, lawyers, or internal trade compliance teams. Brown had to digitize purchase orders, track shipping invoices, and chase missing paperwork from freight forwarders before he could even be ready to file. The article reinforces that refund eligibility alone is not enough; fragmented records, unfamiliar customs systems, technical errors, and limited internal capacity may prevent many businesses from recovering what they are owed.
The Tariff Refund Portal Is Live—and Businesses Are Already Getting Error Messages
Barron’s reports that businesses were already encountering error messages shortly after the tariff refund portal went live. The piece is useful because it reinforces that CAPE is not a simple “file and get paid” process. Early portal issues may lead some businesses to delay filing to avoid preventable errors, underscoring the importance of clean data, technical readiness, and careful claim preparation before submission.
Tariff Refund Portal Off to a Bumpy Start
CBS News reports that some businesses experienced glitches, access issues and high-volume error messages shortly after CAPE launched. The piece is useful because it shows the practical friction importers may face when trying to file, especially around ACE account setup, unresolved support tickets, and system readiness. It also reinforces that while up to $175B may be owed in refunds, successful recovery still depends on accurate submissions, proper portal access, and issue-free processing.
Businesses Race to Apply for Tariff Refunds
NPR covers the launch-day rush into the tariff refund portal as businesses begin filing claims through CAPE. The piece is useful as a real-world snapshot of how quickly the market moved once the portal opened, while also reinforcing that the first phase is focused on entries that have not yet fully finalized and that older finalized claims still depend on later phases.
CSMS #68340863 - UPDATE - Consolidated Administration and Processing of Entries (CAPE) for IEEPA Refunds, April 20, 2026, Deployment
This official CBP deployment bulletin confirms the April 20 CAPE launch and provides practical filing details for the trade community. It explains who can file, how CAPE declarations work, the CSV upload format, the 9,999-entry limit per declaration, the role of importers of record and brokers, and key operational guidance tied to protests, PSCs, and ACH refund payments.
Consolidated Administration and Processing of Entries (CAPE) Phase 1
This CBP Trade User Information Notice provides a more structured explanation of what CAPE Phase 1 will do when it launches. It outlines the electronic filing path through ACE, explains how CAPE validates refund requests, and clarifies which entry populations are included in Phase 1, including most unliquidated entries, certain recently liquidated entries, and some suspended, extended, under-review, and warehouse-related entries.
TPC Tariff Tracker
The Tax Policy Center’s tariff tracker gives a broader view of the post-IEEPA tariff landscape. It is useful for context because it explains that while the Supreme Court struck down IEEPA tariffs, other tariff authorities remain in place, and new tariff actions continue to affect the broader market and policy environment.
Execution quality is becoming just as important as legal entitlement
The updated materials consistently show that CAPE is a phased, entry-driven, actively managed process where timing, submission accuracy, follow-up and issue resolution will affect who gets paid and when.
Phase 1 is only a partial operational solution
Even with a confirmed April 20 launch, Phase 1 is expected to address only part of the total entry population, with major categories deferred to later phases.
Court expands recovery to finally liquidated entries
The Court of International Trade clarified that even entries with final liquidation must be reliquidated to remove IEEPA duties. This substantially widened the potential recovery universe.
Browse the Full Library of IEEPA Resources
Use the resources below to stay current on the legal framework, CAPE updates, filing implications, treasury issues and practical execution challenges shaping the IEEPA recovery process. Resources should be displayed from newest to oldest.
Legal Framework, Court Guidance and Practical Application
A plain-English breakdown of why IEEPA tariffs are refundable, why traditional protest rules do not control in the same way here and how the court-driven remedy changes the refund landscape.
Treasury Offset Program Explained
A short guide to how Treasury offsets can reduce actual payout even after a claim is approved, and why net recovery planning matters just as much as gross recovery modeling.
CAPE System Processing Challenges
A concise overview of why execution, not eligibility alone, will likely determine outcomes, including staffing constraints, queue problems, manual intervention and unpredictable timing.
IEEPA Tariff Recovery FAQs
A practical FAQ sheet that explains what the IEEPA tariffs were, who may be eligible for recovery, what documents may be needed, how the process works, what AAS handles and why...
IEEPA Tariff Recovery Opportunity Guide
A concise educational overview of why this refund opportunity matters, who may have been impacted, where tariff exposure may be hiding and why organized execution, documentation a...
Why Staying Current Matters
This is not a static refund environment. CAPE is being rolled out in phases, the process remains under active court supervision and practical recovery outcomes may depend on changes in guidance, submission timing, claim architecture, payment readiness and issue resolution after filing. For that reason, businesses should not assume that one update tells the full story.
Need Help Applying These Updates to your Own Situation?
