When businesses import goods into the United States, they are responsible for paying the associated import duties, taxes, and fees to U.S. Customs and Border Protection (CBP). Managing these payments can be complex, especially for high-volume importers. To help streamline this process, CBP offers a program called the Periodic Monthly Statement (PMS). To participate in PMS, an importer must register with CBP and set up an ACH account with a Payer Unit Number (PUN).

What is PMS?

Periodic Monthly Statement (PMS) is an electronic billing and payment process provided by CBP that allows importers to consolidate the payment of multiple shipments’ duties and fees into a single monthly payment. This system provides greater flexibility and efficiency for importers by moving away from the traditional entry-by-entry payment model.

How Does PMS Work?

Under PMS, importers can group together import entries (shipments) released during a given month and pay for them all at once, rather than making individual payments for each shipment as they arrive. The entries must be released (cleared through customs) within the same calendar month and must be flagged for PMS at the time of entry filing.

At the end of the period, a consolidated statement is generated, listing all the entries included. Payment is then made for all items on the statement via ACH (Automated Clearing House) electronic funds transfer.

What are the Benefits of PMS?

• Simplified Accounting: Instead of handling numerous separate payments, importers only need to make one consolidated payment monthly.
• Improved Cash Flow: PMS allows importers to pay duties as late as the 15th working day of the month following the release of their goods, giving extra time to manage cash flow.
• Administrative Efficiency: Fewer payments and statements to manage mean reduced bookkeeping and administrative workload.
• Greater Visibility: The statement provides a clear summary of all entries and associated charges for the month.

If you are interested in utilizing PMS with your ACH account for your duties payments, please contact your Shippabo account manager.