Project Description
CARM
Payments
What are the Payment Options in CARM?
Businesses do not have to start paying duties and taxes directly to the CBSA with their registration in CARM. The payment options you have in place with your customs broker can continue e.g. broker-direct.
There are now two types of payment options.
- Importer Direct – importer pays duty and tax direct to CBSA through the CARM Client Portal.
- Broker Direct – broker pays duty and tax to CBSA on the importer’s behalf.
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Payment Cycles of CARM
As of Release 2, new billing cycles and payment due dates will be introduced.
STATEMENT OF ACCOUNT (SOA)
The SOA will be generated in the CARM Client Portal on the 25th day of each month.
PAYMENT DUE DATE
Payments will be due 10 business days (holidays included) after the 17th of the calendar month.
CORRECTION PERIOD
The Correction Period allows for interest-free corrections to your Commercial Accounting Declaration (CAD). It starts on CAD submission day and ends on payment due date.
ADJUSTMENT PERIOD
The Adjustment Period starts on payment due date. Please note that adjustments to your CAD at this stage (after the Correction Period) may be subject to CBSA review.
CARM Testimonials
“I had the pleasure of collaborating with the GHY CARM team, and their guidance has proved invaluable. Their expertise regarding requirements for the Canadian government’s initiative ensured our company is well-prepared for upcoming changes. We’re grateful for such a knowledgeable partner.”
“Sarah, a big thank you for being on the call and providing your CARM expertise. Paul and I will want to stay in touch with you so we can get it right. And certainly, we want to bring the new assistant controller on and train them right away. I wish our other brokers were as open to meet and walk us through this thing.”
“Let me start with saying that the CARM Open Mic webinar was really helpful. I know it wasn’t the exact content that you intended (thank you CBSA…lol), it was still very impactful. Great job!”
CARM Updates
White Paper:
Getting on Board with CARM: How It Will Impact Your Supply Chain
Dive into this White Paper and learn everything you need to know about CARM. We unpack all the details as to why CBSA is making this monumental change, timelines you need to be aware of, why this matters to all importers, steps in setting up your CARM account, and how to minimize your compliance risk and maximize your business opportunities. This is a go-to for all importers and members of the trade community; an invaluable resource to guide you through one of the biggest changes that CBSA has ever made.
FAQs
We’re here to take the guesswork out of CARM compliance and make sure you’re on top of things. Read our answers to the most pressing questions that importers asked during our previous CARM webinars.
Webinars
We regularly host CBSA officials and trade industry experts to discuss CARM updates and questions. Get access to our previous webinar recordings and stay tuned for our upcoming events.
Open Mic on CARM
CARM In Effect: Navigate CBSA’s Biggest Change for Importers
CARM Webinar 1 – February 4, 2021
CARM Webinar 2 – March 17, 2021