CAPE Update: $86.3 Billion Sent to Treasury as Reconciliation Processing Expands

The post-Phase 2 numbers

As of July 10, CBP reported 229,609 CAPE declarations, with 161,792 passing file validation. Approximately 24.4 million entries had been accepted for processing, and 16.74 million had been liquidated or reliquidated without the IEEPA duties.

The accepted anticipated refund amount reached approximately $121.75 billion. CBP reported $86.3 billion completed, certified, and sent to Treasury for disbursement.

The remaining friction points

CBP reported approximately 4.77 million entry-level validation failures, 9,837 refunds blocked for missing ACH information, and roughly 1.97 million reconciliation-flagged entries in the expanded processing universe.

The growth is encouraging, but it reinforces the same point: importers need to know not only what CAPE accepted, but also what it rejected, omitted, or cannot legally reach.

THE BOTTOM LINE: The system is scaling quickly. The remaining refund risk is increasingly concentrated in validation failures, missing payment information, and entries requiring legal authority beyond ordinary CAPE.