CBSA reminds importers to meet financial security requirements under CARM

The Canada Border Services Agency (CBSA) is reminding commercial importers to meet financial security requirements under the CARM system before the April 19 transition deadline.

Since the system launched on Oct. 21, 2024, importers must post their own financial security to participate in the Release Prior to Payment (RPP) program, which allows goods to be electronically released before duties and taxes are paid. Importers can no longer rely on financial security provided by their customs brokers.

Those who fail to meet the requirement by the deadline will have to pay duties and taxes at the time of release, a process that involves longer paper-based processing times.

To enroll, importers must obtain a Business Number from the Canada Revenue Agency, register for an Import Program Account, enroll in RPP through the CARM Client Portal and post financial security.