FedEx Trade Networks - Periodic Monthly Statement Support
View our Frequently Asked Questions below to learn more about you Periodic Monthly Statement.
- What is the Automated Commercial Environment (ACE) Periodic Monthly Statement program?
The ACE Periodic Monthly Statement (PMS) program allows participants to pay duties and fees to US Customs and Border Protection (CBP) on a monthly basis. PMS participants pay duties for goods released during one calendar month on the 15th business day of the following month.
- What entries are eligible?
- Only entries covered by a continuous bond.
- CBP allows all entries currently eligible for placement on a daily statement to be included on a periodic monthly statement with the exception of the following:
o Reconciliation entries (type 09).
o NAFTA duty deferral entries (type 08).
o Entries requiring the payment of excise taxes.
- Entries containing census errors, other than the exceptions listed above, are eligible for periodic monthly statement.
For additional details, refer to federal Register Notice 70 FR 45736, published Aug. 8, 2005. A copy of the Federal Register Notice can be found on the ACE Federal Register Notices link at www.cbp.gov/modernization.
Operational questions about Periodic Monthly Statements and Periodic Monthly Statement processing should be directed to firstname.lastname@example.org, your CBP account manager, or your client representative.
- What are the importer eligibility requirements to participate in the Periodic Monthly Statement program?
The eligibility requirements are the following:
- Pay duties and fees via CBP’s Automated Clearinghouse (ACH) payment program.
- Be the Importer of Record on the customs entries.
- Use an Employer Identification Number (EIN) and/or Social Security Number (SSN) as the Importer Number.
- Have a continuous bond in place with CBP.
- What is required to enroll in this program?
Meet the eligibility requirements.
Advise surety of planned participation.
For non C-TPAT certified importers, file form 5106 with CBP. FedEx Trade Networks can assist with the process.
For C-TPAT certified importers, e-mail participation request to CBP with a copy of the importer C-TPAT letter.
- How will customers benefit by enrolling in this program?
By enrolling in this program, a participant may enjoy benefits which include:
- Potential for improved cash flow.
- Improved efficiency in payments.
- How will this affect a customer's current internal procedures?
Changes will vary from participant to participant. Some may find it necessary to change their internal financial procedures. The Periodic Monthly Statement will be a compilation of Periodic Daily Statements that have been designated for monthly payment. Participating importers and their designated brokers will be allowed to defer payment of estimated duties and fees to no later than the 15th business day of the month following the month in which the goods are either entered or released, whichever comes first.
- If I choose not to participate in this program, will the existing ACH program still be available?
Yes, at least initially. CBP has indicated that in the long term the daily ACH program may be discontinued. FedEx Trade Networks intends to offer the existing ACH program as long as it is available.
- If FedEx Trade Networks Transport & Brokerage, Inc. (FedEx Trade Networks) is paying monthly, will the customer's terms of payment change to 30 days?
No, payment terms and conditions will remain the same.
- Will FedEx Trade Networks manage this payment program for my firm?
Yes, FedEx Trade Networks can manage the payment program for your firm using our traditional Automated Broker Interface (ABI) relationship with CBP.
- Who do I contact with questions regarding the ACE Periodic Monthly Statement program?
For additional information, please contact FedEx Trade Networks Customer Service: 1.800.249.2953.