Dear Valued Customer:
We have been closely following IEEPA Tariff updates from both the Courts and U.S. Customs and Border Protection (CBP). As widely reported in the media, CBP launched a refund portal, CAPE, on Monday April 20th.
Our team worked in advance of the CAPE portal launch to ensure we submitted all eligible refunds as soon as the portal opened earlier this week. Many claims were not eligible for submission in this first phase through CAPE, but StoneX will be filing remaining claims as soon as eligibility is confirmed by CBP.
What happens now?
Uncertainty remains around claim reviews and timing of corresponding refund payments. Guidance provided by CBP to date is that a review will occur of each claim within 45 days of submission. Refunds may be issued if the claim is accepted within 60 to 90 days. However, we have been advised that these timelines may not hold, and the CAPE portal has experienced technical issues this week as importers rush to make claims.
Though no one has received tariff refunds yet, StoneX is tracking all eligible import entries closely and is ready to act once refunds are processed.
We will keep you informed as updates become available and appreciate your patience in the meantime.
Best regards,
Matt Daks | SVP StoneX Specialty Coffee