A blue and red background with a Canadian maple leaf and the text overlay says "CARM - CBSA Assessment and Revenue Management"

CARM: New Canada Importation System Starting May 2024

Karolina Mazur Featured, News, Uncategorized

On May 13th, 2024, the CARM (CBSA Assessment and Revenue Management) digital system will become the office system of record that importers and other trade chain partners will use to pay import duties and taxes. If you have not registered, please get in touch with sales@canaangroup.ca immediately since there is a potential waiting list for the April 30th, 2024 deadline. Note that the CARM Portal will not be available in the first two weeks of May. 

What is CARM? 

CARM stands for the CBSA Assessment and Revenue Management program. It is a new initiative by the Canada Border Services Agency (CBSA) that aims to modernize and streamline the process of importing goods into Canada. CARM will introduce a new electronic portal for importers and customs brokers to submit their trade data, process payments, and manage their accounts with the CBSA. The system will provide more transparency and accuracy in assessing and collecting duties and taxes and improve compliance with customs regulations. CARM will also introduce new risk assessment tools and features to enhance trade security, reduce processing times, and increase customs clearance efficiency.

Do I have to sign up for CARM? 

As a business that imports goods into Canada, you must register for the Canada Border Services Agency’s (CBSA) Assessment and Revenue Management (CARM) system. CARM is a new system designed to modernize how the CBSA processes import/export data and collects revenue on goods entering Canada. You can register yourself or ask your Canaan sales representative to assist you.

Who does CARM apply to? 

CARM, or the CBSA Assessment and Revenue Management project, applies to businesses and individuals who import goods into Canada. This includes importers, customs brokers, freight forwarders, and carriers transporting goods across the Canadian border.

Do I need a Canadian customs bond for CARM? 

Yes, you do need a Canadian customs bond to participate in CARM. The bond is a financial guarantee that you will pay any fees or penalties that may be assessed by the Canada Border Services Agency (CBSA) for non-compliance with Canadian customs regulations. A customs bond can be obtained through a licensed customs broker such as Canaan Transport Group or a surety company that provides bonding services. The bond amount will depend on your business type and the value and volume of the imported goods into Canada.

If you have further questions, please get in touch with Canaan Group sales or email sales@canaangroup.ca.