GSP refunds being processed by CBP

On July 29th, Customs and Border Protection finally published their long-awaited guidance on how they would handle refunds of GSP entries.

Customs is liquidating GSP eligible entries with refunds after a two-year lapse in the program.

GSP, you will recall, was lapsed for two years because of lack of Congressional support. Supporters of GSP were concerned because when the program had lapsed previously, the re-authorization legislation always provided retroactive refunds. In the current climate in Washington, that was in doubt.

Fortunately, the legislation passed, and refunds are being issued retroactively.

Customs is issuing refunds automatically to people who filed entries electronically using the appropriate entry flag (A, A+, or A*). No action is required on the part of the filer, but we do recommend that if you have an internal process for flagging GSP-eligible entries, keep a checklist of the payments received to ensure that all refunds are properly received.

These refunds are being provided without interest.

For entries not filed electronically (via ABI), interested parties must file a request, in writing, with the appropriate Port Director no later than December 28, 2015.

CBP has provided an excellent reference resource on their website about how it all works.