Periodic Monthly Statement (PMS) is a feature of the Automated Commercial Environment (ACE) that simplifies the payment and collection of duties and fees and promotes account based processing.
Periodic Monthly Statement allows users to consolidate the payment of duties and fees on a monthly basis. With this capability, operations for many filers have changed from a day-by-day payment process to a consolidated, account-based, Periodic Monthly Statement process. Filers now have three payment options for each entry summary:
- Single Pay – Users pay per entry
- Daily Statement – Users consolidate all shipments and pay per day
- Periodic Monthly Statement – Users combine eligible shipments and pay monthly
Periodic Monthly Statement summarizes Periodic Daily Statements into a consolidated statement each month. Periodic Daily Statements contain entry summaries that the filer has scheduled for a single day. The Periodic Daily Statements are consolidated for a monthly payment due on the 15th working day of the month scheduled by the filer. Entry summaries not eligible for inclusion on a Periodic Monthly Statement include:
- NAFTA Duty Deferral, Entry Type 08
- Reconciliation, Entry Type 09
- Entry summaries with IRS tax class codes
What are the dates for PMS:
The Benefits of the PMS Program:
Participation in Periodic Monthly Statement offers many benefits to importers and brokers, such as:
- Consolidating individual entry summaries for goods that are released during a given month and allowing them to be paid as late as the 15th working day of the following month
- Providing additional flexibility in the management of the working capital required for duty payments as well as potentially significant cash flow advantages
- Allowing importers who are Automated Broker Interface (ABI) self-filers and brokers to pay designated entry summaries for a given month on one statement
- Streamlining accounting and reporting processes
- Allowing filers (including importers who are self-filers) to select either a nationalor a port statement.
- Allowing brokers to pay on behalf of importers.
- Shifting the payment process from a transaction-by-transaction payment process to an interest-free Periodic Monthly Statement process
- Allowing users to view the Periodic Monthly Statement as it is being built during the month.