CBP Updates Payment Processing Regulations; Only CBP Internal Accounting Affected

CBP will update its regulations for "Automated Clearinghouse (ACH) to reflect that CBP will identify final statements as paid upon the completion of the funds transfer," the agency said an interim final rule that will take effect Sept. 7. "The trade community will experience no delays, interruptions or process changes associated with this change to the regulations," CBP said. "This change only affects CBP’s internal accounting procedures and does not alter the substantive rights of the members of the trade community." The changes “do not affect the timeliness of the payment, which remains based upon the date of CBP’s acceptance of the ACH debit [or credit] authorizations for the entries,” the agency said. Likewise, CBP will continue to base its date for calculation of interest or liquidated damages on the date that it accepts the ACH debit or credit authorizations. The agency made similar changes to its periodic monthly statement pilot test, it said in another notice.