Upcoming CARM Changes: How to Stay Compliant with New CBSA Requirements
The Canada Border Services Agency (CBSA) is making significant changes to how duties and taxes on commercial imports are assessed and paid. Starting on October 21, 2024, the Assessment and Revenue Management (CARM) system will be the new standard for importers and exporters in Canada. If you’re working in commercial imports, it’s critical to understand how this will impact your processes.
What Does the CARM Change Mean for Brokers?
As of October 21, registering for an importer or exporter account will be done exclusively via the CARM Client Portal. This transition means that the Canada Revenue Agency will no longer handle these services. To avoid disruptions to your clients’ import operations, it’s essential to be familiar with this new platform.
The CARM Client Portal is designed to streamline the way commercial importers manage their duties and taxes. All importers will need to post financial security through the portal, making customs bonding a necessary component of smooth operations.
How Approved Casualty and Surety Can Help
Our dedicated Commercial Surety team specializes in customs bonds across Canada and the United States. We are here to ensure that your transition to CARM is smooth, and your operations are not disrupted. We can assist you in posting e-bonds directly within the CARM Client Portal and provide guidance every step of the way.
For more information on registering through CARM, you can visit the CBSA CARM page. To learn more about the Release Prior to Payment program and its features, check out the CBSA Release Schedule and Benefits.
Don’t wait until the last minute to adapt to these changes—start preparing now so you can keep your clients compliant and avoid delays.
Ready to Learn More? Contact Us Today
We are here to guide you through these changes. Contact our team to discuss how we can support your customs bonding needs and keep your operations running smoothly.
