April 20, 2020 – Late on Sunday, the White House issued an Executive Order postponing for 90 duties, taxes and fees for importers on entries not already paid in March and April. This deferral is subject to the following:
1. 90-day postponement is not available for entries that include ADD/CVD, Section 201, 232 or 301 trade remedy duties.
2. No interest accrues and no penalties are to be paid for those entries during the 90-day postponement period.
3. To be eligible, importers must be able to demonstrate SIGNIFICANT FINANCIAL HARDSHIP, one condition of which the agency defines as 2020 gross receipts 60% less than the comparable March and April period in 2019. While documentation must not be filed, the agency "may also conduct a review of the documentation at a future date to ensure compliance with the requirements."
4. Entries on a Periodic Monthly Statement may be postponed up to three months as defined by the 15th working day of the third month.
5. This deferral applies to entries paid by single check, daily statement or Periodic Monthly Statement.
Comments