If you’re the CEO or a board member of a corporation that imported goods during the IEEPA period that lasted between February 2025 to February 2026, you’re likely aware of the refund process as well as the CAPE portal and the government pushback with regard to the refund. However, you may not be aware of the fact that failure to act on these refunds may expose you to personal liability for breach of fiduciary duty. Picture this: the CEO of a mid-size corporation is in his corner office, when general counsel walks in with a concerned look. They share a letter from a shareholder’s attorney asking about the company’s IEEPA refund claim, or lack thereof. The CEO is aware that there is a refund program targeting importers that paid IEEPA tariffs, but has always been of the assumption that the company’s customs broker was handling it. However, the custom’s broker has done no such thing, and the 180-day window for filing has closed. The shareholder’s attorney poses the question of why the CEO allowed millions of dollars to vaporize in front of them without doing anything.
This may seem like a scene from a movie, but it is something that is happening to hundreds of executives across the country who made the mistaken assumption that someone else was going to be handling the IEEPA refund process, only to discover that nothing has been done and now, they must face the proverbial firing squad – their shareholder, the IRS and the SEC to name a few. If you’re reading this and have taken no steps to recover your IEEPA refund, you may be willingly putting yourself in this firing squad. Before you worry yourself into a hypertensive crisis, read on to find out how you can stop this from becoming your fate as a major importer of goods and raw materials into the country.
Are you looking for a best IEEPA tariffs refunds attorney? Please call us NOW at (314) 481-63338 to learn more about your legal options for justice and compensation as they relate to IEEPA refunds and the process. McCready Law is proud to announce that we have joined forces with Frost Law Arizona to help corporations and businesses that were unlawfully levied duties against during the February 2025 to February 2026 period, and thanks to the Supreme Court ruling, the government was ordered to pay back all these duties to over 300,000 affected businesses across the country. Our strategic partnership means we are able to assess your claim, consolidate your entries via an in-depth forensic audit to discover just how much the government owes you, file protective orders on your behalf, and even litigate your claim in front of the Court of International Trade should the government become recalcitrant about processing your IEEPA refunds. We offer the forensic audit at NO CHARGE as well as a 100% FREE initial consultation phone-call, and we work efficiently and ensure all your valid entries are presented as a complete dossier to CBP and relevant authorities, leaving you to focus on more pressing business matters. Need assistance with IEEPA refund rejections or processing? Call us NOW at (314) 481-63338 to speak with an experienced attorney and tax experts at no cost to you.
Fiduciary Duty and its Relation to IEEPA Tariff Refunds
Here’s what duty of care requires of you as an officer or the director of an import company:
- Duty of care requires that you be informed of the corporation’s financial affairs and this includes things like potential recoveries. If you haven’t spoken with counsel in order to assess your IEEPA refund claim, you’re likely not meeting this standard
- Duty of loyalty also requires that you put the interests of the corporation ahead of your own, and if you own shares as well as are the CEO of the corporation, you are seen as having a personal interest in ensuring that shareholder achieve maximum value. Therefore, failing to pursue a legitimate claim can be construed as acting in self-interest and may be punishable by law.
- While the business judgment rule protects you from liability, it doesn’t apply if you make a decision that no reasonable person would make. For instance, failing to act to retrieve a $30 million refund cannot be seen as a reasonable business decision, but a leadership failure.
Consequences of not Filing IEEPA Refund Claims
Some of the consequences of not following up with the IEEPA tariff refund include things like shareholder derivative lawsuits being filed against officers and directors that fail to act on the same, SEC scrutiny, as well as IRS penalties for negligence with regard to not claiming the IEEPA tariff refund. Last but not least, you may be held personally responsible for the lost refund, and if a new board or CEO is appointed and then find out management failed to pursue a legitimate claim, you may be terminated and compensation may be clawed back from income or bonuses.
Best IEEPA Tarif Refund Attorneys – Call us Today!
If you’re reading this and have not filed an IEEPA tariff refund claim, the time to do so is NOW – McCready Law has joined hands with Frost Law of Arizona to assess your claims and consolidate them via a forensic audit for companies that qualify. In addition, we’re ready to file protective protests, process your claims via CAPE and expedite them where possible, and last but not least, represent you in front of the Court of International Trade if CBP refuses to process your refund due to a nebulous reason. Need more information on how we can help? Call us NOW at (314) 481-63338 to learn more about your legal options for compensation. Thanks for choosing us, and we look forward to helping you.