CARM Release 2 – October 2023
Dear Valued Client,
The Canada Border Services Agency (CBSA) has announced that CARM Release 2 is now scheduled for October 2023.
CARM Release 2 is when a major change in importing bonds will take effect. Importers will need to secure and post their own financial security if they would like to participate in the Release Prior To Payment Privilege (RPP).
As a valued client of Summit Customs Brokers, we want to ensure you are well prepared for the ongoing changes to our importing community with CARM (CBSA Assessment and Revenue Management project). We’ve developed service packages to help you to register on the CARM Client Portal (CARM Release 1) and post your own financial security (CARM Release 2). And you can find them here.
You can also see all updates, information, and links to resources on preparing for CARM on our CARM page: summitcustomsbrokers.com/CARM
CBSA Seeking Comments to Proposed Regulatory Changes
To enable the remaining CARM functionality – CARM Release 2 – the CBSA is proposing to make amendments to nine regulations made under the Customs Act and three regulations made under the Customs Tariff to:
(i) support electronic communication between the CBSA, and TCPs by removing some requirements for in-person and paper-based communication and by adding some requirements for electronic communication (i.e. to account for goods and supply documentation related to duty free shop operations);
(ii) update financial security requirements;
(iii) implement simplified billing cycles that would provide more consistency among billing, accounting and payment due dates for imported goods, and enable a period to make corrections to accounting documents without triggering a redetermination or a penalty; and
(iv) make consequential and housekeeping amendments to update outdated references and nomenclature in several regulations to correct the wording of referenced acts and regulations, government directives, Minister titles and reflect current program policy.
The proposal would also introduce new regulations under the Customs Act to set out the terms and conditions for the electronic administration and confirmation of financial security to the CBSA.
If you would like to submit comments on these changes, please visit the pages below and submit comments by December 26, 2022:
Regulations Amending Certain Regulations Administered and Enforced by the Canada Border Services Agency:
Financial Security (Electronic Means) Regulations:
We look forward to supporting you every step of preparing for CARM.
Summit Customs Brokers & Trade Consultants and our family of customs brokers – ISL Customs Brokers and Alliance Border Services.
Have a question about CARM?
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