The U.S. Supreme Court’s recent decision to strike down certain tariffs imposed under the International Emergency Economic Powers Act (IEEPA) has created an opportunity for many small businesses to seek refunds. However, navigating the refund process can be complex. Here’s what small businesses need to know. For more detailed information, visit the Chamber’s Guide on Tariff Refunds, here.
[To learn more about the Supreme Court decision and what tariffs are impacted, watch our Small Business Tariff Update.]
Does your business qualify?
You're likely eligible if your business was the importer of record or the consignee who directly paid IEEPA tariffs. Refunds do not cover Section 232, Section 301, anti-dumping, or most-favored-nation tariffs — only IEEPA-based duties. The government must also pay 6% interest on overpayments, currently accumulating at about $650 million per month.
4 steps your business can take now
- Update your CBP importer record (Form 5106) — make sure it has a current email that isn't your broker's.
- Create an ACE Portal account — this lets you pull reports showing your IEEPA payments. Heads up: setup can take 3–4 weeks.
- Enroll in ACH Refund — this is required to receive your refund electronically. Few importers have done this yet.
- Check for exceptions — some entries (e.g., liquidated entries, those tied to drawback claims or open protests) won't be covered right away. Talk to your customs broker.
Expected timeline
CBP expects to launch its online refund system around April 20, 2026. The system will initially cover unliquidated entries and those within the 90-day reliquidation window (~63% of all eligible entries). Liquidated entries will be addressed later.
Watch Out for Scams
Fraudsters will try to exploit the confusion. Only work with established, licensed customs brokers to navigate the refund process. And consult a tax professional on how refunds affect your federal income taxes.
The U.S. Chamber of Commerce is closely monitoring developments and advocating for a simple, efficient refund process. Stay informed and take proactive steps to prepare for refunds. For more resources, visit the Chamber’s Guide on Tariff Refunds, here.
CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
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