CBMA - One Year Extension Signed!

Posted 12/23/2019

We are pleased to announce that the President did sign the Continuing Resolution funding the government and inclusion of various tax extenders, including CBMA. Thus, we will have the CBMA benefits continuing in 2020.

Now is the time to start collecting your assignment letters from your producers and updating your Controlled Group Spreadsheets as needed. Remember, if you are the importer of record, you are held responsible for the accuracy of these documents and must insure that you have the all details correctly noted. The requirements for 2020 will be the same as 2018 and 2019, those guidelines can be found here.

2018 and 2019 Claims:

Customs is making their way through all claims as quickly as possible and we are seeing movement in approvals (and denials) of Protests and PSC claims. Once a claim is approved it can take anywhere from 3-6 months to receive payment. CBP reports that the error rate remains extremely high. Close to 80% of all claims have some type of error. WSSA met with top officials on the CBP CBMA team last week and reviewed the problems they are encountering on claims. The issues are in all areas of the claim process, from simple calculation errors to incorrect dates on letters, to missing documentation. WSSA is committed to continuing to educate the importing community on CBMA compliance and will be doing additional webinars in 2020. Keep in mind that if errors are found on claims, you may receive tax bills for "live" CBMA entries and may receive denials of claims on Protests and PSCs. Should this occur, discuss with the party who filed the claim as to how to rectify, or contact WSSA for assistance in next steps.