The first tranche of International Emergency Economic Powers Act (IEEPA) tariff refunds is due to hit importers’ bank accounts on May 12, according to Customs and Border Protection. In a message shared with importers on Monday, CBP indicated that tariff refunds will be issued electronically from the U.S. Treasury Department one day later than previously indicated by the agency, which originally ballparked May 11 as the start date. On April 20, CBP launched its Consolidated Administration and Processing of Entries (CAPE) tool within its import and export processing system, the Automated Commercial Environment (ACE). More than 75,000 refund declarations were filed within a week of the system’s debut, and 3 percent of those deemed eligible had entered the refund stage of the process. This week’s memo to importers using the CAPE system contained resources to help them track the entries moving through the refund process and running refund reports within ACE.…