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The Supreme Court invalidated the 2025 IEEPA tariffs and CBP is now processing refunds via ACH through the CAPE portal. If your business paid IEEPA duties between April 2025 and February 2026, your entries may be eligible for recovery — with statutory interest accruing daily. Actual refund amounts depend on an entry-by-entry audit. Edge structures the recovery process end-to-end: eligibility review, filing coordination with your licensed customs broker, and capital strategy around the proceeds.
Four things you need to know about how this market opened — and why timing matters.
On February 20, 2026, the Supreme Court ruled 6–3 that the 2025 IEEPA tariffs were not authorized by statute (consolidated proceedings; specific case captions vary by docket). CBP halted collection on February 24, 2026. Every importer who paid IEEPA duties on entries between April 5, 2025 and February 24, 2026 may have a claim — with statutory interest accruing daily on accepted refunds.
CBP launched the Consolidated Administration and Processing of Entries (CAPE) portal on April 20, 2026. Refunds are issued in phases via ACH directly to the importer of record's account. Phase 1 covers certain unliquidated entries and entries within 80 days of liquidation; the Phase 1 cycle is typically ~10 days to acceptance and 60–90 days to deposit. Phase 2 scope has not yet been published by CBP. Note: an active §1514 protest on an entry will block a CAPE filing on that same entry — the strategy is not interchangeable, and entries already under protest require withdrawal of the protest before CAPE submission.
The federal government's appeal deadline runs through early June 2026. A successful appeal could stay the refund process and significantly delay payments. Section 122 replacement tariffs (10% surcharge) are currently scheduled to sunset in mid-2026 absent extension — importers should confirm current status with counsel. The refund and broader tariff landscape are both reshaping fast; positioning matters now.
An estimated $166B in IEEPA duties paid by 330,000+ U.S. importers across 53 million entries. Refunds accepted through CAPE carry statutory interest at a Treasury-set rate (currently ~6–7% per annum) from the original payment date. Eligibility, the actual recoverable amount, and the timing of payment all depend on an entry-by-entry audit of CBP records.
Whether your refund is six figures or eight, Edge structures every stage — from determining what you're owed to making the proceeds work hardest for your balance sheet.
We work with your team to audit entry summaries filed during the IEEPA window and identify what is recoverable under the current CAPE framework. Estimates are based on documented CBP records, not assumptions. Eligibility, the actual recoverable amount, and whether protest withdrawal is required are confirmed only after the audit is complete.
CAPE filings can only be submitted by the importer of record or the licensed customs broker that originally filed the entry — a new broker cannot substitute mid-claim. Edge provides senior oversight on the claim, coordinates with your existing broker on submission, and engages a partner licensed customs broker under power of attorney where the importer requires one. Edge is not itself a licensed customs broker.
A clean Phase 1 filing typically deposits in 60–90 days from acceptance; multi-entity portfolios or complex eligibility positions can run longer. For importers who need liquidity sooner, Edge structures the receivable for monetization through financing facilities or sale to specialty buyers. Important: sale of a refund claim transfers the right to the underlying CBP refund — the original importer does not separately receive the refund. Discounted purchase terms are negotiated case-by-case.
When refunds arrive, the proceeds and the tax position need to be coordinated. Edge works alongside your tax advisors on how the recovery integrates with broader tax planning — the §168, §41, §179D, and §45X programs are areas we frequently see relevant to importers and manufacturers. Edge is not a CPA firm, tax advisor, or law firm; we structure transactions and refer the formal tax filing work to licensed tax counsel.
If your business absorbed tariff costs through working capital lines, factoring, or expensive bridge debt, the refund is a one-time chance to restructure. Edge designs the post-refund capital stack — pay down expensive facilities, restructure covenants, or deploy proceeds into rated structured products.
For sponsors with very large positions or portfolios of refund receivables across operating companies, Edge introduces qualifying parties to specialty buyers and private credit funds active in this space. Any such transaction is privately negotiated between the importer and the capital partner; sale of the refund position transfers all rights to the underlying CBP refund. Edge is not a registered broker-dealer or investment adviser, takes no role in negotiating transaction terms, and does not solicit retail investment. Introductions are made only to qualified institutional or accredited capital partners. Any transaction documentation is the responsibility of the parties and their counsel.
If any of the below describes your business, you almost certainly have an IEEPA refund claim — and Edge can help size and structure it.
Importers of components, raw materials, machinery, or intermediate goods who paid IEEPA duties on production inputs during 2025.
Brands and retailers who imported finished goods, apparel, electronics, housewares, or consumer products subject to IEEPA reciprocal tariffs.
Developers and contractors who imported building materials, fixtures, or equipment for U.S. projects during the tariff window.
Solar, BESS, EV, and renewable fuel developers who imported components — particularly affected because IEEPA tariffs hit critical minerals and supply chains hard.
Pharmaceutical, medical device, and life-science companies who imported active ingredients, reagents, or specialized equipment.
Private-equity portfolio companies whose import-heavy operations distorted hold-period economics during the IEEPA window.
Importer-distributors who absorbed tariffs into wholesale pricing and may now have substantial refunds owed back.
Claims belong to the importer of record (IOR) on the entry. If your shipments were Delivered Duty Paid (DDP) and the foreign seller acted as IOR, the U.S. buyer does not have the CAPE claim. Confirm IOR status on entry documents before assuming eligibility — we audit this on intake.
Eligibility, the precise recoverable amount, and the path to recovery are confirmed only after an entry-by-entry audit of CBP records. A power of attorney to the licensed customs broker is required to file. Sectoral examples above are illustrative, not exhaustive.
30-minute discovery call. We size your potential refund, walk through eligibility, and confirm whether the engagement makes sense for your business.
Your team pulls entry summaries from the IEEPA window. Edge audits, classifies, and calculates exact refund + statutory interest. You receive a documented number.
CAPE filings submitted by your licensed customs broker (or a partner broker under POA). Any prior protest positions on the same entries are addressed first. If you want monetization, the receivable structuring is run in parallel.
When refunds land — or when financing closes — we integrate the cash into your tax position, capital structure, and broader financial strategy.
Not legal, tax, or customs-broker advice. Edge Management LLC is not a law firm, CPA firm, tax advisor, registered investment adviser, broker-dealer, or licensed customs broker. Information on this page is general and educational. Specific eligibility, claim sizing, tax positions, and legal outcomes depend on facts unique to your business and require licensed professional advice. Engagements involving CAPE filings are coordinated with your existing licensed customs broker, or with a partner licensed customs broker engaged under a power of attorney.
Claim outcomes are not guaranteed. Eligibility for an IEEPA tariff refund depends on entry-by-entry audit of CBP records, importer-of-record status, the current state of CBP guidance, and ongoing legal and administrative developments. References to industry estimates such as “$166B” describe market-wide totals; they do not represent or imply that any particular importer will receive a refund or any specific amount.
Capital partner introductions. Where Edge introduces an importer to a specialty buyer or private credit fund for sale or financing of a refund claim, the transaction is privately negotiated between the importer and the capital partner with their respective counsel. Edge does not act as a broker-dealer or investment adviser, does not solicit retail investment, and does not negotiate price or terms. Such introductions are made only to accredited or qualified institutional parties. Sale of a refund claim transfers all rights to the underlying CBP refund — the original importer does not separately receive the refund after assignment. Importers should obtain independent legal and tax advice before any assignment, financing, or related agreement.
Active §1514 protests and CAPE. An active §1514 protest on an entry will, under current CBP practice, block a CAPE filing on that same entry. Filing a protest is not a substitute for, or compatible with, a parallel CAPE submission. Where prior protest positions exist, withdrawal is generally required before CAPE submission. Edge does not represent that any particular protest or CAPE strategy will preserve or expand a claim — this is a fact-specific determination by qualified trade counsel and your licensed customs broker.
DDP shipments. CAPE refund claims belong to the importer of record (IOR) named on the entry. In a Delivered Duty Paid (DDP) arrangement where the foreign seller acts as IOR, the U.S. buyer typically does not have the claim.
Third-party risk. Plaintiffs' firms have, in adjacent contexts, asserted “pass-through” or unjust-enrichment claims against importers who retained refunded amounts that were originally absorbed downstream (by customers or counterparties). Whether such risk applies in a given supply chain is a matter for the importer's counsel to assess.
Fee structure transparency. Edge engagements on tariff refund work typically combine a defined-scope retainer with a success fee tied to recovery. Both components are disclosed in writing in the engagement letter before any commitment. We do not operate on a pure contingency basis on this work because the audit, quantification, and capital-strategy components require committed senior time independent of recovery outcomes.
Data handling. Edge operates offices in New York, Chicago, London, and Mohali, India. Client engagement data — including entry-level CBP records — may be processed by team members across these locations under engagement-specific confidentiality and data-protection terms. Specific data-handling arrangements are detailed in the engagement letter.