Periodic Monthly Statements (PMS) allow importers to consolidate their payments of duties, taxes, and customs fees on a monthly basis. Here is a simplified guide to help you participate.
For access to the official form and
detailed information:
Participating
in Periodic Monthly Statements (PDF)
- Increased Flexibility: Deferred payment until the 15th working day of the following month after customs clearance.
- Simplified Payments: All duties and taxes are consolidated into a single monthly statement.
- Optimized Cash Flow Management: Helps to predict and manage financial resources.
- ACE Reports: Detailed monthly activity tracking through the Automated Commercial Environment (ACE) system.
- Continuous Bond:
Participants must have a valid customs bond to cover all potential obligations. - Enrollment in ACH (Automated Clearinghouse):
You must already be enrolled in the ACH Debit or Credit program, as PMS requires an electronic payment system. - Eligible Entry Types:
Most customs entries are eligible, except for specific cases such as:- Duty Deferrals (Entry Type 08).
- Reconciliations (Entry Type 09).
- Entries with specific IRS tax codes.
Step 1: Prepare Documents
- Complete the CBP Form 5106 to activate your PMS account.
- Clearly write “Periodic Monthly Statement Activation” at the top of the form.
Step 2: Submit Your Request
- Send your completed form to the Bond Department:
- Email: usb@axxessintl.com
- Subject: Request for PMS Activation.
Step 3: Verification and Activation
- Once your request is processed, CBP will activate your PMS account and provide detailed instructions.
- View Current Statements:
Log in to the ACE portal to see your monthly statements in real time. - Plan Payments:
Duties and taxes must be paid by the 15th working day of the following month. - Financial Forecasting:
Use ACE reports or request monthly forecasts from your broker to ensure sufficient funds are available.
- Monitor Your Statements:
Ensure all entry summaries are included and correctly reported. - Bank Limits:
Check that your bank allows the required withdrawals to avoid delays. - Active Communication:
If issues arise, immediately contact your broker or CBP.
- CBP Revenue Division: For questions related to statements or payments.
- ACE Portal: To track statements and manage payments.