What changed
$137.9B of IEEPA refunds in CAPE; class certified for importers who did not sue
When
Figures as of October 23, 2026; class certified October 8, 2026
Who it affects
Importers of record that paid IEEPA duties from Feb 1, 2025 to Feb 19, 2026
What to do
Check ACE access, ACH refund details and liquidation status of every entry

Key takeaways

  • CBP held about $137.9 billion of IEEPA tariff refunds in CAPE as of October 23, 2026, out of roughly $166 billion collected.
  • An October 8 class covers importers of record that never sued, but it is not yet a refund order and faces appeal.
  • About $1.1 billion was unpaid in early October over missing ACH details, so check ACE access and bank forms first.

IEEPA refunds in CAPE, as of October 23, 2026

$137.9Bpotential and certified refunds
222,754declarations passed validation
44Mentries covered
15.8Mfinally liquidated entries in Phase 3
Source: CBP figures via National Law Review, Nov 2, 2026

What changed

The Supreme Court ruled on February 20, 2026 that the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were unlawful, as Thompson Hine notes. CBP collected roughly $166 billion under those orders, per Supply Chain Dive, and refunds run through its Consolidated Administration and Processing of Entries portal, called CAPE.

The National Law Review's November 2 roundup reports CBP's figures as of October 23: 315,069 declarations submitted, 222,754 passed validation, about 44 million entries and $137.9 billion in potential and certified refunds. Phase 3, which covers finally liquidated entries, had accepted 3,960 declarations covering about 15.8 million entries and is opening to more plaintiffs on a rolling basis.

The class action most sellers have not heard about

On October 8, Senior Judge Richard K. Eaton certified a class in Freestyle World v. United States. It covers importers of record that paid IEEPA duties between February 1, 2025 and February 19, 2026, and excludes anyone who filed a separate refund suit. More than 4,000 importers have sued, and Thompson Hine says this is only the second certified class at the court since 1980.

The court described the importers who have not used CAPE as overwhelmingly small, and estimated that without a class about $30 billion would stay with the government, per Supply Chain Dive. That is the group many Amazon private label brands fall into.

The limits are real. The class is not a refund order. An attorney quoted by Supply Chain Dive said it does not immediately expand eligibility or direct payment. The Justice Department argues the court can only order refunds for importers that sued, its appeal is pending at the Federal Circuit, and the National Law Review expects certification to be appealed and possibly reversed.

The number most coverage misses: unclaimed and unpaid money

Put the two totals side by side. CBP collected about $166 billion, and $137.9 billion was in CAPE by October 23. By our arithmetic, that leaves roughly $28 billion not yet accepted into the system, close to the court's own $30 billion estimate. The two figures come from different dates, so treat the gap as a rough size, not an exact count.

Then there is money already approved but not sent. Baker Tilly reports that as of October 2, about $1.1 billion in refunds had not gone to Treasury because the importer of record, or its Form 4811 designee, had not supplied ACH bank details. CBP's rule requires every refund to be paid electronically through ACE, so a missing bank form stops payment.

How IEEPA refunds got here

  1. Supreme Court rules IEEPA tariffs unlawful

  2. $126B sent to Treasury, $1.1B held for ACH

  3. CAPE Phase 3 opens for finally liquidated entries

  4. Court certifies class of non-suing importers

  5. $137.9B in CAPE, 222,754 declarations validated

So what: the math for one brand

For example, using illustrative numbers: a brand imported $500,000 of goods during 2025 as its own importer of record and paid $75,000 in IEEPA duties. That brand sells a $30 item with a $6 unit profit, so the refund equals the profit on 12,500 units. If its entries are unliquidated, a CAPE declaration is the usual route. If some are finally liquidated, CBP's position is that it needs a court order, so that part depends on either the class case or the brand's own suit.

Skipping the paperwork has a cost. Baker Tilly says setting up an ACE portal account can take up to six weeks, so a brand that starts in December may not see cash until well into 2027.

What sellers should do

Most of this is finance and customs work, not Seller Central work. Start this week.

  • Finance lead: confirm whether your company, not your supplier or freight forwarder, was the importer of record on 2025 and early 2026 entries. Metric: a list of entries with your IOR number on them.
  • Customs broker: pull entry summaries from February 1, 2025 to February 19, 2026 and tag each as unliquidated, liquidated or finally liquidated. Metric: IEEPA duty paid per group, in dollars.
  • Finance lead: open or check your ACE Secure Data Portal account and file ACH refund details, including for any Form 4811 designee. Check that Form 5106 name, address and tax ID match, since Baker Tilly says CBP voids inaccurate records. Metric: ACH status shown as complete in ACE.
  • Customs broker: file CAPE declarations for eligible entries. For finally liquidated entries under protest, the court clarified they can go into Phase 3 without withdrawing the protest. Metric: declarations accepted, not just submitted.
  • Brand owner with counsel: if finally liquidated entries are large, weigh your own suit, which the National Law Review calls the surest route, against waiting on the class. Note that suing removes you from the class. Metric: a written decision with the dollar amount at stake.

Before you can be paid

  • Confirm you were importer of record
  • Open ACE Secure Data Portal access
  • File ACH refund details in ACE
  • Check Form 5106 name and tax ID
  • Tag entries by liquidation status
  • File CAPE declarations for eligible entries

When this does not apply

If you bought delivered duty paid and your supplier was the importer of record, any refund goes to them, so your only lever is a price credit in your next negotiation. If you never imported goods under IEEPA orders, or only paid other duties such as Section 301 or Section 232, these refunds do not cover you. Read this as news, not legal advice: talk to a licensed customs broker or trade attorney about your entries.

Where PPC Spider helps

Refund cash is a good moment to reset your ad budget on facts. Our Amazon policy updates channel tracks duty changes such as the importer of record rules. Use the Amazon profit calculator to rerun unit margin, and our Amazon account management team can set target ACoS from that margin. To see where spend leaks today, book a free Amazon audit.

Sources

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