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 the assessment and collection of duties and taxes, as well as improve compliance with customs regulations. CARM will also introduce new risk assessment tools and features to enhance trade security, reduce processing times, and increase efficiencies in the customs clearance process. The rollout of CARM began in April 2021 and is expected to be fully implemented by late 2023.
As a business that imports goods into Canada, you will need to register for the Canada Border Services Agency's (CBSA) Assessment and Revenue Management (CARM) system. CARM is a new system that was designed to modernize how the CBSA processes import/export data and collects revenue on goods entering Canada.
You will need to sign up for a CARM Client Portal account, which is the central hub for all CARM activities. This account allows you to manage your business information, create trade transactions, and access customs declarations and payment information.
In short, as a business importing goods into Canada, signing up for CARM is mandatory. It is important to note that there are certain deadlines for registration based on your business size, so it is crucial to check the CBSA website for more information and to register in a timely manner.
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 who transport goods across the Canadian border.
To sign up for the Canada Border Services Agency's (CBSA) CARM (CBSA Assessment and Revenue Management) program, you will need to follow these steps:
If you need any assistance or have any questions about the CARM program, you can contact the CBSA directly or work with a customs broker who can guide you through the process.
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 or a surety company that provides bonding services. The amount of the bond will depend on the type of business you have and the value and volume of the goods you import into Canada.