Your REV-603 Doesn't Match the Bank Deposit: How to Reconcile a CAPE Refund

TL;DR — A bank deposit may not equal a single REV-603 line because a CAPE refund payment combines principal plus interest, can cover entries from multiple CAPE Declarations sharing one liquidation date, and may have an offset applied via Funds Diverted. To reconcile, run ACE reports in this order: ES-022 (principal and interest by entry), ES-701 (liquidation status), REV-603 (Refund Secondary Status), REV-615 (entry-level CAPE detail), and REV-613 (ACH rejections). Match each batch to a date range, not a single CAPE Declaration.

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Why the bank line and the ACE report rarely match cleanly

Three structural reasons explain most mismatches.

Principal and interest split. ES-022 shows refund amount and interest amount as separate columns. Per 19 CFR § 24.36, interest accrues on these refunds from the date duties were deposited to the date of refund at the IRS-published quarterly rate. CSMS #68340863 confirms this calculation method applies to CAPE refunds: "Interest is calculated on these refunds, as it is on any interest eligible refund issued by CBP, in accordance with 19 CFR 24.36." Treasury can wire principal and interest in separate ACH transmissions. A deposit that matches ES-022 principal but not principal-plus-interest means interest is in flight.

Multiple entries batched by liquidation date. CSMS #68340863 states directly: "The individual entry summary refunds will be consolidated by IOR or designated 4811 party and liquidation date before they are dispersed in one lump sum." The same CSMS confirms cross-declaration consolidation: "These instances occur when entry summaries from different CAPE declarations are on one consolidated refund." One bank deposit can cover entries from multiple CAPE Declarations if those entries share a liquidation date.

Funds Diverted offset. Per 19 CFR § 24.72, CBP applies any "legally fixed and undisputed" debt against the refund before Treasury transmits payment. CSMS #68536553 introduced the Refund Secondary Status column in REV-603 specifically to surface this — but only after the offset is applied, not before.

Reconciliation is an arithmetic exercise across five reports, not a single lookup.

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The correct order to run ACE reports for reconciliation

Run the reports in this sequence. Each one adds information the next one needs.

CAPE Tab → ES-022 → ES-701 → REV-603 → REV-615 → REV-613

This ordering reflects how the underlying ACE workflow processes entries.

CAPE Tab (File Upload History). Confirms the Declaration was submitted and accepted by ACE batch validation. Status "Accepted" or "Accepted with Errors" means the file passed structure validation — it does not mean any individual entry has been processed yet.

ES-022 — CAPE Entry Summary Report. First report to run after acceptance. Connects the CAPE Declaration to specific entry numbers and, when populated, shows refund amount, interest amount, refund number, refund date, and refund status. Blank fields mean the entry is still working through CBP review.

ES-701 — Courtesy Notice of Liquidation. Confirms whether an entry has liquidated. ES-701 is not CAPE-specific — it tracks liquidation events generally, including those triggered by CAPE. Refund processing depends on liquidation having completed, so a blank ES-701 for a given entry means refund timing is still tied to the liquidation cycle.

REV-603 — Trade Refund Report. Populates after Treasury receives the refund claim. Per CSMS #68536553, REV-603 shows the Refund Secondary Status column with one of four values: Sent to Treasury, Treasury Issued, Funds Diverted, or Check/ACH Returned. If your entry is in ES-022 but not in REV-603, the refund hasn't reached Treasury yet.

REV-615 — CAPE Details Refunds Report. Provides entry-level detail tied to specific CAPE claim numbers. The CBP IEEPA FAQ describes REV-615 as providing "consolidated CAPE refund information as well as entry-level refund information." This is the only report that lets you reconstruct which entries are in which batch payment.

REV-613 — ACH Rejected Refunds Report. Run last, and only if expected payment did not arrive. The CBP ACE Reports Trade Refund Report QRC describes REV-613 as covering refunds rejected due to incomplete ACH Refund enrollment. An empty REV-613 is the correct state for any IOR with proper ACH authorization on file.

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How to use ES-022 to separate principal from interest

ES-022 lists each entry with refund amount and interest amount as distinct columns. Total expected payment for an entry equals refund amount plus interest amount.

Worked example. Three entries appear in ES-022 with refund amounts of $10,000, $5,000, and $2,000, and interest amounts of $350, $175, and $70. Total expected payment is $17,000 principal plus $595 interest, or $17,595 combined.

Entry	Refund Amount	Interest Amount	Total
Entry A	$10,000	$350	$10,350
Entry B	$5,000	$175	$5,175
Entry C	$2,000	$70	$2,070
Total	$17,000	$595	$17,595

A bank deposit of $17,595 reconciles cleanly to these three entries. A deposit of $17,000 means the principal arrived but interest is in a separate transmission still in flight. A deposit of $16,000 means something else — most likely a Funds Diverted offset of $1,000.

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How to use REV-615 to break a batch into entries

When a bank deposit arrives but you don't know which entries it covers, REV-615 is the report that answers the question.

REV-615 is the only ACE report that ties a CAPE claim number to individual entry-level refund amounts within that claim. Running REV-615 against your entire CAPE filing history produces a list of every entry processed under CAPE with its specific refund amount and the CAPE claim it belongs to.

To match a bank deposit:

1. Note the deposit date and amount.
2. Run REV-615 with date filters covering the 30 days before the deposit.
3. Group entries by liquidation date — that's the batching unit per CSMS #68340863.
4. Sum refund amounts plus interest per liquidation-date group.
5. The group whose total matches your deposit (or matches it less any offset) is the group covered by that ACH.

If no group matches exactly, the deposit likely combines multiple liquidation-date groups across declarations, or has an offset applied. Proceed to REV-603 to check Refund Secondary Status.

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When REV-603 and ES-022 disagree

The two reports populate at different points in the workflow.

ES-022 populates after acceptance and reliquidation. It reflects what CBP has approved as the refund amount.

REV-603 populates after Treasury transmission. It reflects what is actually being paid, including any offsets.

The two can disagree temporarily when a refund has been approved (ES-022 shows the amount) but not yet transmitted (REV-603 still blank for that entry). They can also disagree permanently — ES-022 shows $10,000, REV-603 shows "Funds Diverted" and the bank receives $0 — when an offset consumes the full amount.

For reconciliation purposes:

• ES-022 is the source of truth for the calculated amount.
• REV-603 is the source of truth for the payment status and any offset.
• REV-615 ties both back to specific entries.

Don't reconcile against REV-603 alone if its columns are still blank for entries you know were accepted. That just means Treasury hasn't transmitted yet.

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Reconciliation worksheet template

A working reconciliation spreadsheet needs at minimum these columns:

Column	Source	Purpose
Entry Number	ES-022	Anchor
CAPE Claim Number	ES-022 / REV-615	Group payments
Refund Amount (Principal)	ES-022	Expected principal
Interest Amount	ES-022	Expected interest
Total Expected	Calculated	Principal + interest
Liquidation Date	ES-701 / ES-003 manual	Predicts batch grouping
Refund Number	ES-022	CBP payment ID
Refund Date	ES-022 / REV-603	When Treasury transmitted
Bank Deposit Date	Bank statement	When ACH arrived
Bank Deposit Amount	Bank statement	What actually arrived
Refund Secondary Status	REV-603	Sent to Treasury / Issued / Funds Diverted / Returned
Match Status	Calculated	Reconciled / Pending / Offset / Rejected

An importer with more than 50 entries will build something like this in Excel. Our Pre-CAPE Audit builds the pre-filing version of this picture automatically.

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When the deposit still doesn't reconcile

After all five reports, three patterns remain.

Difference equals an open bill amount. Funds Diverted offset under 19 CFR § 24.72. Open bills against your IOR are listed in your Importer sub-account in ACE. CSMS #68340863 confirms: "a check for any unpaid debts to CBP will be made before the issuance of the refund, and the refund amount will equal the difference between the IEEPA duties to be refunded and the unpaid bill(s)." Address the underlying bill — the offset itself is not separately disputable.

Difference equals a Section 232 or Section 301 line not covered. Under 19 CFR § 159.1 netting, only the IEEPA Chapter 99 portion of an entry is refunded. If other lines on the same entry were under-deposited, the net refund is reduced. Pull the original entry summary to verify which lines existed.

Difference is unexplained. Email IEEPARefunds@cbp.dhs.gov with the CAPE claim number, the entry number, the expected refund per ES-022, the bank deposit reference and amount, and the calculated difference. Include the Refund Secondary Status from REV-603 if populated.

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Frequently asked questions

Why is the bank deposit less than REV-603 shows? Most commonly because the interest was sent in a separate ACH that hasn't arrived yet, or because a Funds Diverted offset was applied under 19 CFR § 24.72. Run ES-022 to see whether principal and interest were split, and check the Refund Secondary Status column in REV-603 for offset indicators.

Which ACE report ties payment to specific entries? REV-615. It is the only report that provides entry-level refund detail tied to a specific CAPE claim number.

Can one bank deposit cover multiple CAPE Declarations? Yes. Per CSMS #68340863: "entry summaries from different CAPE declarations are on one consolidated refund." CBP groups payments by IOR plus liquidation date, not by Declaration. Two Declarations filed weeks apart can combine into one payment if their entries share a liquidation date.

What if ES-022 is blank for my entry? Acceptance is recorded in the CAPE Tab but reliquidation hasn't completed or Treasury hasn't transmitted yet. Check the CAPE Tab status first. Then check ES-701 for liquidation status. If both look normal, the entry is still in the 60-90 day refund queue per CSMS #68340863.

Can REV-603 show a refund as "Treasury Issued" but no money arrives at my bank? Yes. This usually means the ACH was rejected due to incomplete ACH Refund Authorization in your Importer sub-account. Run REV-613 to confirm and email frn-achrefundsupport@cbp.dhs.gov with the entry number and CAPE claim number. CBP holds the funds until enrollment is corrected.

How do I calculate the interest amount myself to check ES-022? Per 19 CFR § 24.36, interest accrues from the date duties were deposited to the date of refund at the IRS-published quarterly rate. The rate changes quarterly and is published in IRS Revenue Rulings; CBP applies the corporate rate to corporate IORs and the non-corporate rate to other entities. For an approximate check, multiply duty amount by the current quarterly rate, then prorate by the number of days from deposit to refund.