When CARM becomes the official system of record, obtaining the release of imported goods prior to accounting and payment of duties will significantly change for importers.
In October 2024, CARM will become the official system of record for the imposing or levying of duties and taxes, which will introduce:
- changes to the Release Prior to Payment (RPP) program
- electronic commercial accounting declarations that you can correct and adjust
- harmonized billing cycles
- new offsetting options
- electronic management of appeals and compliance actions
- the ability to register for a Business Number (BN9)
- enrolment in various CBSA commercial programs
Importers will no longer be able to use their customs broker’s Release Prior to Payment (RPP) security to clear shipments before paying duties and taxes. Importers who want to participate in the RPP program will be required to post their own financial security. They will have the following options:
- Option 1: a financial security instrument for 50% of their highest monthly accounts receivable (inclusive of GST), with a minimum financial security of $5,000 per import program (RM)
- Option 2: cash deposit for 100% of their highest monthly accounts receivable (inclusive of GST)
In addition to posting security, importers will be required to pay CBSA directly for all duty/GST, via online banking or with Pre-authorized debit (PAD) and credit card through the CARM Client Portal.
New harmonized billing cycles
In October 2024, CARM will introduce new harmonized billing cycles that align payment due dates for importers. Currently, statements are issued on the 25th of each month, with payment due by the last day of the month. The new payment due date will be 10 weekdays (defined as Monday to Friday, inclusive of holidays) after the 17th of the calendar month.
The following billing cycles will be affected by CARM:
- High-value shipments (HVS) / low-value shipments (LVS)
- Courier low-value shipments (CLVS)
- Continuous transmission commodities (CTC)
- Customs Self-assessment (CSA) program
We are ready to assist you with this registration process and happy to answer any questions you may have. Simply contact your Client Care representative or Mark Glionna, Vice President—Client Relations & Business Development.
