The countdown is based on server time, which is currently:
Updated April 2017
Service providers file an FCC Form 474, Service Provider Invoice (SPI) Form, to request reimbursement from USAC for the discount amount on eligible services provided to the applicant. The service provider must provide the service and bill the applicant for its non-discount share before submitting a SPI Form to USAC.
FCC Form 474 (SPI) User Guide for filing online.
Service providers can file a SPI Form after the applicant has filed an FCC Form 486, Receipt of Service Confirmation and Children's Internet Protection Act Certification Form; the service provider has filed an FCC Form 473, Service Provider Annual Certification (SPAC) Form, for that funding year; services have started; and the service provider has billed the applicant for the non-discount share of the cost of those services.
You can submit the SPI Form as often as you wish (e.g. monthly, bimonthly, quarterly, annually). However, you must first bill the applicant for the cost of the non-discount share of the services featured on the SPI Form.
Deadline: You must submit the SPI Form no later than 120 days after the last date to receive service or 120 days after the date of the FCC Form 486 Notification Letter, whichever is later.
USAC issues a remittance statement to the service provider upon successful data entry of the SPI Form.