How to Explain IEEPA Recovery to Your Board in 5 Minutes

Your board wants three things: what’s the opportunity, what’s the risk, and what do you need them to approve. You have five minutes to deliver all three. Here’s exactly how to do it.

This guide is built for CFOs, controllers, and finance leaders who need board or executive committee approval to pursue IEEPA tariff recovery. It includes a ready-to-use presentation framework, specific talking points, and answers to the questions your board will ask. Modify the numbers with your own data from your Impact Assessment and you’re ready to present.

The 5-Minute Framework

Structure your five minutes into three blocks. Don’t deviate from this structure — it’s designed for how boards process information.

Block 1: The Opportunity (90 Seconds)

Opening statement:

“On February 20, 2026, the Supreme Court ruled 6-3 that IEEPA tariffs collected between February 2025 and February 2026 were unconstitutional. We paid approximately $[YOUR AMOUNT] in those tariffs. That money is legally refundable, and we’re here to discuss our recovery strategy.”

Three key facts to deliver:

1. “This is not speculative.” The Supreme Court ruling is definitive. The CIT directed CBP to process refunds. The legal question is settled.

2. “Our exposure is $[X].” Share your total IEEPA duty amount. If you have your Impact Assessment, share the exact figure. If not, share your best estimate and note that an assessment is underway. Context: the average mid-market importer has between $200,000 and $2.5 million in recoverable duties.

3. “There are deadlines.” The 180-day protest window is running on liquidated entries. Some of our entries may have deadlines approaching as soon as [DATE]. Missing deadlines means more expensive recovery paths.

Block 2: The Options (120 Seconds)

Present the four recovery paths as a simple table:

Key narrative point:

“Different entries require different paths based on their liquidation status. Our recommended strategy is [PSC for unliquidated/protest for liquidated/split approach/etc.], which is projected to recover $[NET AMOUNT] over [TIMELINE].”

If you’re considering a split strategy — selling some entries for immediate capital while filing government claims on others — present it here with the rationale.

Block 3: The Ask (90 Seconds)

Be explicit about what you need the board to approve:

“I’m requesting authorization to:

1. Engage [firm name] to manage our IEEPA recovery at [fee terms]. Estimated net cost: $[X] on a $[Y] recovery, or [Z]% of the total.
2. Authorize data sharing with the advisory firm under NDA for entry-level import data.
3. Authorize immediate protective action on [N] entries approaching protest deadlines, at an estimated cost of $[X] in broker filing fees.
4. [If applicable] Authorize claim sale of [N] entries totaling $[X] in duties for immediate capital of approximately $[Y].”

Close with the consequence of inaction:

“If we take no action, we risk losing administrative remedies on entries approaching protest deadlines, falling to the back of the CAPE processing queue, and forfeiting [estimated $X] in time value on our refund. The cost of waiting is quantifiable — approximately $[X per month/quarter] in opportunity cost at our cost of capital.”

Preparing for Board Questions

Your board will have questions. Here are the ones that come up in virtually every IEEPA recovery presentation, with ready-made answers.

”Is this really risk-free?”

Answer: “The legal risk is essentially zero — the Supreme Court ruling is definitive and broad. The execution risk is procedural: processing delays, documentation requirements, and deadlines. Those risks are manageable with proper preparation and professional guidance. The largest risk is actually inaction — missing deadlines and losing recovery options."

"Why can’t our customs broker just handle this?”

Answer: “Our customs broker will handle the technical filings — PSCs, protests, and CAPE submissions. What they don’t do is portfolio strategy, deadline management across mixed-status entries, recovery optimization, or the kind of analysis that determines which path is best for each entry. The advisory layer is where the value is.” For more detail, see the DIY vs. professional comparison.

”What does this cost us?”

Answer: “The Impact Assessment was free. The advisory engagement costs [describe fee structure — contingency, flat fee, or hybrid]. On a $[X] recovery, the total cost is approximately $[Y], resulting in a net recovery of $[Z]. The ROI is [multiple]x. Compare that to the alternative: doing nothing costs us $[amount] in time value erosion and potentially $[amount] in lost entries past protest deadlines.”

Present the cost as a table:

”Can the government appeal or reverse the ruling?”

Answer: “The Supreme Court ruling is final. The government cannot appeal to a higher court — there isn’t one. Congress could theoretically pass new tariff legislation under different authority, but that wouldn’t affect refunds for tariffs already ruled unconstitutional. There’s no legal scenario in which our right to these refunds is reversed."

"How does this hit our financial statements?”

Answer: “Once we have a filed claim with probable recovery, we can record a receivable under ASC 450 contingency accounting. For immediate capital, the payment is recognized upon receipt. Our controller should coordinate with our auditor on the specific treatment, but the general framework is straightforward. The CFO guide to IEEPA recovery has detailed accounting guidance."

"What if we wait six months?”

Answer: “Three things get worse: (1) entries approaching protest deadlines will pass them, requiring expensive CIT litigation instead of simple protest filings; (2) our CAPE queue position drops behind every importer who files before us, adding months to our processing time; (3) the time value of the refund erodes at our cost of capital — approximately $[X per quarter]. Waiting has a measurable cost."

"Are there any compliance or reputational risks?”

Answer: “None. We’re claiming a refund of duties the Supreme Court ruled were unconstitutionally collected. This is not an aggressive tax position or a gray area. Every major importer in the U.S. is pursuing the same recovery. Not pursuing it would arguably be a failure of fiduciary duty."

"Who else is doing this?”

Answer: “Virtually every large and mid-size U.S. importer. The estimated $166 billion in refundable duties touches hundreds of thousands of importers. Our competitors are certainly pursuing recovery, which means not acting puts us at a relative disadvantage.”

Supporting Materials to Have Ready

Don’t present these proactively — your five minutes are for the core narrative. But have them available when questions arise.

One-Page Executive Summary

A single-page document with:

• Total IEEPA exposure ($)
• Entry count and status breakdown
• Recommended recovery path(s)
• Projected net recovery
• Key deadlines
• Recommended advisory engagement terms
• Estimated cost and ROI

If you have your Impact Assessment, this is essentially the executive summary page from your report. See our one-page IEEPA action plan for a template.

Entry-Level Detail

A spreadsheet showing every qualifying entry with status, duty amount, and recommended recovery path. Board members rarely look at this, but having it demonstrates thoroughness and readiness.

Fee Comparison

If you’ve evaluated multiple firms, a comparison matrix showing fee structures, scope, and total cost for each. See our guide on evaluating recovery firm offers for the framework.

Legal Background

A one-paragraph summary of the Supreme Court ruling and CIT order. Keep it simple: “The Court ruled 6-3 that the President exceeded IEEPA authority. All tariffs under this authority between February 4, 2025, and February 24, 2026, are void. CBP has been ordered to process refunds.”

Presentation Tips

Lead With the Number

“We’re owed $[X]” is the most attention-grabbing opening you can deliver. Don’t bury it in context. State the number, then explain.

Don’t Over-Explain the Legal Background

Your board doesn’t need a constitutional law seminar. “The Supreme Court ruled these tariffs unconstitutional, 6-3, and the decision is final.” That’s all the legal context most boards need.

Frame the Ask as Risk Management

Boards are more comfortable approving risk mitigation than opportunistic plays. Frame IEEPA recovery as recovering money that’s already yours and protecting it from deadline expiration — not as “making money.”

Present the Cost of Inaction

The most persuasive element isn’t the recovery amount — it’s the cost of not acting. Quantify what the company loses every month of delay: time value erosion, approaching deadlines, deteriorating queue position. Make inaction feel expensive, because it is.

Bring a Recommendation, Not Options

Boards don’t want to choose between four recovery paths. They want your recommendation and the authority to execute it. Present the analysis briefly, then state clearly: “I recommend we pursue [strategy], at an estimated cost of $[X] and projected net recovery of $[Y].”

Set a Decision Deadline

Don’t let the board table this indefinitely. “I’d like to have authorization by [DATE] so we can file protective protests on entries approaching their 180-day deadline on [DATE].” Tie the decision to a real operational deadline.

Board Psychology: What They’re Really Thinking

Understanding what board members are actually thinking — beyond the questions they ask out loud — helps you prepare more effectively.

The Skepticism Factor

Some board members will be skeptical of any “too good to be true” opportunity. They’ve seen enough financial pitches to be wary. Counter this by emphasizing what this is NOT:

• It’s not an investment — you’re recovering money already paid
• It’s not speculative — the Supreme Court ruling is final
• It’s not tax-aggressive — this is the opposite of a gray area
• It’s not optional — the money is legally yours regardless of whether you claim it

The Fiduciary Angle

For publicly traded companies or companies with institutional investors, there’s a fiduciary argument for pursuing IEEPA recovery. Failing to pursue a known, legally established refund could be viewed as a failure of the duty of care. Some general counsels we’ve worked with have flagged this proactively.

The Competitive Intelligence Concern

Some board members will worry about sharing import data with third parties. Address this directly: we’ve written a guide on questions to ask before sharing your data and another on NDA and data security requirements. The protections are standard and enforceable.

The “Why Now” Question

This is the question behind every other question. The answer is concrete: protest deadlines are running, CAPE queue positions are filling, and the time value of your refund erodes at your cost of capital. “Why now” has a quantified answer — present it.

After Board Approval

Once you have authorization, execute quickly:

Day 1: Notify your advisory firm that engagement is approved. Execute engagement agreement.

Day 1-2: File protective protests on any at-risk entries immediately.

Week 1: Complete data sharing with advisory team. Begin CAPE preparation.

Week 2: File PSCs for unliquidated entries. Initiate claim sale process if authorized.

Monthly: Provide board with brief status updates — entries filed, refunds received, deadlines met. Keep it to a single slide in your regular board deck.

The first 48 hours after deciding to pursue recovery are the most important. Don’t lose momentum between board approval and execution.

Handling Board Dynamics

Different board compositions require different presentation approaches.

For Boards With Trade Experience

If you have board members with trade, logistics, or import/export backgrounds, they’ll understand the mechanics quickly. Spend less time on “what IEEPA is” and more time on the financial analysis, timeline projections, and strategic implications. They’ll appreciate the nuance of the four recovery paths and may have questions about specific HTS classification issues.

For Boards Without Trade Experience

If your board is primarily financial, operational, or technology-focused, keep the trade mechanics high-level. Lead with the financial opportunity and use the “refund of unconstitutional taxes” framing — everyone understands getting wrongly collected money back. Avoid jargon like “liquidation,” “PSC,” and “ACE” unless you define them in context. Stick to dollars, timelines, and costs.

For Risk-Averse Boards

Some boards will focus heavily on downside risk. Address this directly: “The Supreme Court ruling is final. There is no legal risk to pursuing this refund. The only risks are procedural — processing delays and filing errors — which professional advisory mitigates. The largest risk is inaction, which has a quantified cost of $[X per quarter].”

For Boards Under Financial Pressure

If your company is facing financial challenges, frame the refund as a material recovery opportunity that improves cash position without requiring operational changes. If immediate capital is part of the recommendation, emphasize the speed: “We can have $[X] in our bank account within 6-8 weeks by selling a portion of our claims, with no impact on operations.”

The One Slide You Need

If your board prefers visual presentation, everything above fits on one slide:

IEEPA Tariff Recovery Recommendation

• Opportunity: $[X] in unconstitutional tariffs refundable per Supreme Court ruling
• Strategy: [PSC/Protest/Split/Immediate Capital] for [N] entries
• Timeline: [X months] to first recovery, [Y months] to full resolution
• Cost: $[X] in advisory and filing fees | Net Recovery: $[Y]
• Risk of Inaction: $[X/quarter] in time value loss + deadline expiration on [N] entries
• Ask: Authorize engagement with [firm] and immediate protective filings

That’s your five minutes. Clear, quantified, actionable.

Post-Presentation: Managing Board Follow-Up

After the initial presentation, expect follow-up questions over the next few days. Here’s how to manage them.

The “Let Me Think About It” Response

If the board doesn’t decide immediately, set a specific follow-up date. “I understand you want to consider this. Can we reconvene on [date]? I ask because entries approaching their protest deadline on [date] need action by then.” Tie the follow-up to a real deadline, not an artificial one.

The “Can You Get More Information” Response

Common requests include: more detail on the advisory firm’s track record, comparison with other firms, legal opinion on the ruling’s finality, or detailed tax treatment analysis. Have these materials prepared in advance so you can deliver within 24-48 hours, not weeks.

The “We Have Other Priorities” Response

This is the hardest response to address. Acknowledge the competing priorities, but quantify the cost of delay: “Every month we wait costs approximately $[X] in time value and brings [N] entries closer to their protest deadlines. I’m not asking for significant bandwidth — the advisory firm handles execution. I need 30 minutes of board time and authorization to proceed.”

The “Approved, But Keep It Simple” Response

The best possible outcome. Take the authorization, engage immediately, and provide brief monthly updates. Don’t over-complicate the reporting — a simple table showing entries filed, refunds received, and amounts outstanding is sufficient.

Get your free Impact Assessment →

The assessment produces the exact numbers you need for this presentation — total exposure, entry statuses, recovery projections, and recommended strategy. If you don’t have these numbers yet, request your assessment today and have a board-ready analysis within days. No cost, no commitment — just the data your board needs to make a decision.