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Periodic Monthly Statement (PMS)

CBP offering free Simplified Processes Initiative webinar

Wednesday, March 22nd, 2017

The Simplified Processes Initiative (SPI) is an effort to develop a transformation strategy to optimize the process of importing goods through collaboration with the trade and CBP.

Click here to view a summary of the information that presenter Randy Mitchell, Director, Commercial Operations and Entry Division, Office of Trade, Trade Policy and Programs will cover during this free webinar on March 24 from 3 to 4 p.m. ET.

 

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Everything you need to know about PMS in ACE

Monday, January 23rd, 2017

From US Customs’ January 2017 ACE Monthly Trade Update:

Below are the preliminary (11th workday) and final (15th workday) dates for Periodic Monthly Statement (PMS). The latest date in which the “Preliminary” PMS can be requested to generate is the 11th workday of the month.

However, some companies do request their preliminary PMS to generate before the 11th workday. “Final” is the due date for the preliminary PMS. This date is also when ACE sends the Periodic Daily Statement (PDS) payment authorization message (PN Transaction) for the PMS to the Pay.gov website.

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US Customs published Cargo Systems Messaging Service (CSMS) message #17-000009 to announce the postponement of the January 14, 2017 ACE deployment. A new date will be announced in the near future.

Effective with the rescheduled date for this deployment, the final PMS will be generated to the trade community in two or three business days instead of the current one day issuance in ACE and Automated Commercial System (ACS). In ACE, the final PMS has to date been generated the day after CBP sent the PN authorization message to Pay.gov and not when the payment was transferred to CBP.

Additionally, please keep in mind that ACE Reports may not generate quickly on days when preliminary and final PMSs are generated. CBP suggests that you run and/or schedule your PMS reports during non-peak business hours and/or on days when they are not due.

For more information concerning statement processing, please review the Statements in ACE Information Notice, the Periodic Monthly Statement User Guide posted on the “ACE and Automated Systems” and “ACE Portal Training Resources” pages of CBP.gov/ACE. Questions concerning participation in Periodic Monthly Statement should be directed to the CBP Revenue Division. Users can send an email to periodicstatement@cbp.dhs.gov or contact the ACE Periodic Monthly Statement Payment Help Desk at 317-614-4545.

Importers use ACH debit to streamline duty payments

Tuesday, March 25th, 2014

Savvy importers who take advantage of paying their customs duties via Automated Clearing House (ACH) debit realize many benefits.  As outlined by CBP, these importers:

  • Obtain up to an additional 10 days to pay duties, taxes, and fees on quota and other special merchandise classes
  • Reduce administrative processing and costs
  • Pay all ABI statements in a central location
  • Reduce administrative errors related to check processing
  • Eliminate lost or stolen check problems
  • Control cash flow by identifying the exact day to allocate funds

Additionally, users of ACH may use avail themselves of the Periodic Monthly Statement (PMS) feature in ACE which provides its own benefits, such as improved cash flow –  payments of duties and fees are deferred until the 15th day of the following month, offering up to a 45 day interest-free float on this cash

customsPrior to using ACH, the import compliance department must work with the company’s finance or accounting group to set up internal payment processes and then coordinate with CBP to connect with ACH.  After that, the ACH debit process is straight-forward — just 5 simple steps to paying import duties.

The ACH debit process is quite secure; CBP has taken numerous steps to safeguard the payer’s account information and ensure that the correct amount is debited, which will satisfy even the most conservative finance departments.

ACH debit may be used by both importers who self-file their customs entries and those who use a customs broker.  (CBP also offers an ACH credit process for importers who prefer that method of payment).

 

ACE by the numbers

Wednesday, October 3rd, 2012

How is the ACE program doing?  It seems to be thriving, according to US Customs’ September 2012 “ACEopedia.”

Here’s just a sample of statistics for ACE deployed capabilities:

ACE Entry Summaries (types 01, 03 and 11)

  • Today, nearly 11% of entry summaries are filed in ACE, way up from the 1% filed at the beginning of FY 2012
  • 2.6 million ACE entries filed to date

Post Summary Corrections (PSCs)

  • 4,400+ PSCs filed to date
  • These importers may file electronic PSCs in ACE up to 270 days after the date of entry (currently 10 days if filing in ACS rather than ACE)

Periodic Monthly Statements (PMS)

  • Currently 68% of duties and fees are paid via PMS
  • Such importers pay duties the 15th day of the month following release, creating a cash flow benefit

Other updates on ACE deployed capabilities can be found in the “ACEopedia” (page 4).

Record use of Periodic Monthly Statements (PMS)

Saturday, September 1st, 2012

US Customs has announced that Periodic Monthly Statement use hit a record high in August when 68% of all duties and fees on eligible entry summaries were paid using the PMS feature of ACE.

Increasing numbers of importers are taking advantage of the benefits of PMS (see our previous blog post), while becoming more familiar with the functionality of ACE.   Don’t miss out!