$100 Billion in IEEPA Tariff Refunds Are Being Paid Out — Here's Where Importers Stand

If your company paid import duties under the IEEPA "Liberation Day" tariffs that the Supreme Court struck down in February, you may already have money waiting in your account — or money still in the pipeline. This week, CBP revealed the full scope of the refund effort in a court filing, and the numbers are staggering.

What Happened

On August 5, 2026, Brandon Lord, Executive Director of the Trade Programs Directorate at CBP's Office of Trade, filed a declaration with the U.S. Court of International Trade disclosing that CBP has certified and transmitted approximately $100 billion in IEEPA tariff refunds to the U.S. Department of Treasury for disbursement — covering duties plus interest.

That $100 billion represents roughly 60% of the $166 billion CBP collected through the IEEPA tariffs before the Supreme Court invalidated them. The Court ruled in February 2026 that the International Emergency Economic Powers Act of 1977 does not grant the President the authority to impose sweeping broad-based tariffs on goods from nearly all U.S. trading partners. Federal Judge Richard Eaton subsequently ordered that all IEEPA duties collected must be refunded.

CBP built a dedicated system called the Consolidated Administration and Processing of Entries (CAPE) to handle the volume. CAPE went live on April 20, 2026. As of July 31, 2026:

• 252,496 CAPE declarations had been submitted
• 178,213 passed initial file validations
• Those accepted declarations covered 25.1 million import entries
• 17.69 million entries had already been liquidated or reliquidated without IEEPA duties
• ~$128.68 billion in total potential and certified refunds had entered the processing pipeline

Why It Matters for Importers

This is one of the largest tariff refund exercises in CBP history. If your company imported goods between 2025 and early 2026 when IEEPA duties were in effect, you are likely entitled to a refund — but only if you've filed through CAPE and your declaration passed validation.

There are gaps worth knowing about:

• $1.6 billion is stuck. CBP identified 19,726 refunds totaling approximately $1.6 billion that have not been transmitted to Treasury because importers never provided required bank account information. If you haven't updated your ACH details in the CAPE system, do it now.
• ~$28 billion remains unprocessed. The gap between the $128.68 billion pipeline and the $100 billion disbursed means significant processing is still underway. Patience is required — but so is vigilance.
• Some entries are excluded. Entries liquidated more than 80 days beyond their closure date are currently excluded from the standard CAPE declaration process. Importers with older entries may need to explore options at the Court of International Trade to preserve refund rights.
• The class-action question is open. A California importer called Freestyle World is seeking class certification at the CIT on behalf of smaller importers who say they face barriers using CAPE. That case is ongoing and could affect how smaller businesses recover.

What About Section 301 Tariffs?

Here's an important caution: the CAPE refund mechanism applies exclusively to IEEPA duties. A separate lawsuit filed by state attorneys general on August 4, 2026 targets Section 301 forced-labor tariffs, which currently cover roughly 99% of U.S. imports. If those are ultimately struck down, there is no automated refund pipeline in place — importers would need to pursue individual litigation at the CIT. The contrast with the IEEPA refund process is stark, and it's a risk to watch closely.

Practical Next Steps for Importers

1. Verify you filed a CAPE declaration. If you paid IEEPA duties and have not yet submitted a CAPE declaration, contact your customs broker immediately. The window to file may be closing for certain entry categories.
2. Check your bank account information in ACE. The $1.6 billion in stuck refunds is sitting there because importers didn't provide ACH details. Log into ACE or work with your broker to confirm your payment information is current.
3. Review older entries. If you have entries liquidated well outside the standard timeframe, consult trade counsel about options at the CIT to preserve potential refund rights before they expire.
4. Track Section 301 litigation. The new state AG lawsuit adds another front to an already complex tariff landscape. Keep your HTS classifications clean and your records organized — if Section 301 tariffs ever go into dispute, documentation will be everything.
5. Expect interest accrual to continue. CBP's filing noted that interest on unpaid refunds continues to accrue at an estimated $650–700 million per month. The courts are aware; the obligation to pay it falls on U.S. taxpayers. If your refund is delayed, interest runs in your favor.