What Importers Need to Know About CARM:
What is CARM?
What Importers need to know about CARM is that it is a CBSA project to help modernize and streamline accounting, data management systems & payments. This online portal allows for self-service access to trade information & tools and will provided direct payment solutions. Learn more about CBSA’s plan for the CARM project.
"CBSA project to help modernize and streamline accounting, data management systems & payments."
What Importers Need to Know About the Upcoming Changes:
- Apply for your Importer Statement of Account (SOA) with Daily Notices (DN).
- Speak to your Customs Broker or surety company for assistance in obtaining a surety bond for Release Prior to Payment privileges.
Spring 2021 - CARM Release 1:
- Register for the CARM Client Portal.
- Designate your Account Manager as well as authorize any third-party providers including your Customs Broker.
- Additional online payment options will include credit card and pre-authorized debit.
Spring 2022 - CARM Release 2:
- Importers are required to post their own security (customs surety bond or cash deposit) to maintain release prior to payment (RPP) privileges and month-end payment.
- Importers will no longer be able to use their Customs Broker’s RPP security.
- Importers are required to pay Duty, taxes and GST direct to CBSA.
Benefits of the CARM project:
- Gives 24/7 access to CBSA and importers
- Makes it easier for businesses to work with the agency
- Keeps more efficient and accurate records
- online portal with self-service access to trade information and tools and provided direct payment solutions.
Frontier Can Help:
Over the next few years, this project will transform the current methods of how the CBSA assesses, collects, manages and reports on import revenue and trade information. Make sure that you are ready for this upcoming change by getting in touch with one of our customs brokers today.
The Background of The CARM Project:
The CBSA's and the implementation for CARM:
The Canada Border Service Agency (CBSA) is the second largest collector of tax revenue in the country. Keeping accurate records in an efficient way is important for both the agency and the trade community to do in order to promote a competitive Canadian economy.
One way the CBSA plans to ensure accurate records are kept for Canadian imports is by implementing a multi-year project called the “CBSA Assessment and Revenue Management project” (CARM). This project is transforming the current methods of how the CBSA assesses, collects, manages and reports on import revenue and trade information.
This spring and over the next few years, the CBSA plans to implement the first phase of the CARM project; the Accounts Receivable Ledger (ARL). Implementation started January 2016 with Accounts Receivable Ledger (ARL). ARL recorded all transactions of an importer or broker under a single account, as well as provided electronic statements and payments through online banking or EDI. The next phase will be implemented in two releases.