U.S. Customs and Border Patrol (CBP) launched the first phase of its system for processing applications for refunds of tariffs on Monday (April 20). Importers and authorized customs brokers can now use their Automated Commercial Environment Secure Data Portal (ACE Portal) accounts to file their Consolidated Administration and Processing of Entries (CAPE) Declarations for International Emergency Economic Powers Act (IEEPA) refunds, CBP said in a Monday bulletin. “CAPE is designed to consolidate refunds of IEEPA duties including interest rather than processing refunds on an entry-by-entry basis,” CBP said in the bulletin. “CAPE Phase 1 is limited to certain unliquidated entries and certain entries within 80 days of liquidation.” The CBP said in an April 10 bulletin that this new system for the claims process would be launched in phases, with the first phase starting Monday and later phases adding more functionality for more complicated scenarios. It was reported Tuesday (April 14) that the federal government said that as of Monday, it would be able to start accepting refund claims for $127 billion of the $166 billion it collected in tariffs that were later invalidated by the Supreme Court in February. A Court of International Trade Judge ordered the government to file a report by April 28 detailing its progress on processing refund claims. More than 330,000 importers paid tariffs. Fortune reported Sunday (April 19) that it will take between 60 and 90 days for a refund to be issued after the CBP approves a claim. CNBC reported Monday that companies are tempering their expectations around the refunds because they are concerned about bureaucratic hurdles, legal vulnerabilities and a potential appeal by the Trump administration. The report said that Citi analysts found that the companies expected some of the largest refunds of tariffs are Walmart, Target and Nike. These firms are owed $10.2 billion, $2.2 billion and $1 billion, respectively, per the report. Walmart Chief Financial Officer John David Rainey said April 8, per the report: “It would seem to be very complex and, by extension, probably not something that’s going to happen very quickly. We’ll certainly avail ourselves of the opportunity that we have to get a refund, but when that happens, remains to be seen.” The post Feds Start Processing $127 Billion in Tariff Refunds for Importers appeared first on PYMNTS.com.