The Canada Border Services Agency (CBSA) is encouraging customs brokers and importers to remit their Duty and GST payments electronically, either by online banking or electronic data interchange (EDI). Making this change is recommended for three important reasons:
Duty and GST Payments will continue to be due on the last business day of the month, unless specified otherwise. Making payment at least one day before the last business day of the month is recommended as some payments are not processed until the next working day. Payment amounts will be applied against the importer's account balance.
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Importers can make electronic payments through participating Financial Institutions if they:
To use the on-line banking option, visit the website of your financial institution and enter your business number (BN15, e.g. 123456789RM0001) as the account number, not the Canada Revenue Agency RT account number. Note, as well, that the wording for the CBSA Payee link varies by financial institution:
|Financial Institution||CBSA Payee Name on Internet Bank Site|
|BMO – Bank of Montreal||Canada Border Services Agency|
|Bank of America||Canada Border Services Agency|
|CIBC||CBSA Customers / ASFC Douanes|
|Citibank||Canada Border Services Agency|
|HSBC||CBSA Importer / Importateur de L'ASFC|
|National Bank||Canada Border Services Agency / Agence des services frontaliers du Canada|
|Royal Bank of Canada||CBSA Duties, Taxes and Fees|
|Scotiabank||CBSA Duties, Taxes and Fees|
|TD Canada Trust||CBSA Duties, Taxes and Fees|
|Tangerine||Canada Border Services Agency|
Payment cut-off times are determined by each FI. Clients using the EDI payment method are responsible for knowing and adhering to their FI's EDI cut-off time in order to avoid late payment.
Importers should consider paying CBSA by EDI if they are already using that option with other vendors. Here is how it works:
Tip #46 – Issue Express Bills of Lading instead of Originals and avoid delays and unnecessary costs
Original Bills of Lading are a good way to ensure immediate payment of your merchandise on shipments where you do not have an established credit arrangement with your client.