Periodic Monthly Statement (PMS)
This allows the Importer of Record to combine all shipments released in a single month into one grouped payment to US Customs & Border Protection (CBP).
What is a periodic monthly statement (PMS)?
The periodic monthly statement is a payment option that is a part of CBP’s Automated Clearing House (ACH). This payment option allows the importer to pay customs fees, duties, and taxes electronically once a month, on the 15th working business day, for shipments that cleared Customs the previous month, interest free. This means that the importer would no longer have to pay duties, taxes and fees on a transactional basis, which could increase cash flow.
How do you sign up for the periodic statement?
If you are an importer with an existing ACE account you will be able to request the PMS payment option. If you do not have an existing ACE account you will be eligible to participate through Flexport, who has an ACE account.