National Emergency Authority To Temporarily Extend Deadlines for Certain Estimated Payments

Apr 23, 2020

Summary

Gives the Secretary of the Treasury power to delay payment deadlines for importers who are struggling financially because of the COVID-19 pandemic.

What problem does this solve?

The COVID-19 pandemic caused financial problems for many importers, making it hard for them to pay their estimated import fees on time. This order allows the Secretary of the Treasury to give these importers more time to make their payments, helping them stay in business.

What does this order do?

Grants emergency authority to the Secretary of the Treasury

Gives the Secretary of the Treasury the power to extend the time for importers to make certain estimated payments during the COVID-19 national emergency.

Targets importers with financial hardship

Directs the Secretary to consider extending deadlines for importers who are suffering from serious money problems because of COVID-19.

Excludes certain types of payments

Specifies that payment extensions do not apply to duties and fees related to trade remedy cases, such as antidumping and countervailing duties.

Requires inter-agency consultation

Mandates that the Secretary of the Treasury must talk with the Secretary of Homeland Security before using the authority to extend deadlines.

Who does this affect?

Importers

What is the real world impact?

•

Provides economic relief to businesses

Offers temporary help to importers facing major money problems because of the COVID-19 pandemic. Delaying payment deadlines helps businesses manage their money and continue operating during the national emergency.

When does this start?

This order takes effect on April 18, 2020, and the authority lasts for the duration of the national emergency.