REGULATORY ALERT

The periodic monthly statement program was introduced by CBP to simplify the processing of duties and fees for both importers and brokers, who are paying via ACH. This program allows importers to pay duties and fees for shipments released during any calendar month by the 15^th working day of the following month.

• Allows duty for all shipments released during the month to be paid on the 15^th working day of the following month, thus providing significant cash flow advantages.
• Provide flexibility in the management of working capital required that is required for duty payments.
• Serve as an important component of a company's overall strategic financial planning and forecasting.
• Streamline accounting and reporting processes.

The Automated Commercial Environment (ACE) is an integrated, fully automated information system that enables CBP to collect, process, and analyze commercial import and export data. ACE simplifies the exchange of information between CBP and the trade community.

An ACE (Automated Commercial Environment) portal is an Internet based program used to gain access to information contained in ACE that pertains to a specific account.

A non-portal account is an importer that does not have an established ACE portal. To encourage maximum participation in the PMS program, CBP is authorizing the creation of ACE non-portal accounts for importers, so that they can participate in PMS through a Customs broker that has an established ACE portal account. Deringer maintains an ACE portal account.

As an importer, you will want to notify your broker that your are interested in participating in PMS as a non-portal account. If you, as importer of record, have a CBP Account Manager, then notify your broker of the Account Manager’s name and email address.