Project Description
CARM
Everything you need to know on CARM in one place | Brought to you by your CARM Ambassadors. Last Updated August 22, 2023.
Facts on CARM
Phases of CARM
What You Need to Do
CARM Timeline
Action | Timeline |
---|---|
Must Register on the Portal
| Before May 2024 |
Must Delegate to Customs Broker (GHY) | Before May 2024 |
Understand New Forms | At R2 Launch – May 2024 |
Understand Portal Functionality | At R2 Launch – May 2024 |
Post Security (GHY can assist in facilitation) | May 2024 (if not previously registered on Portal) Fall 2024 (if registered on Portal before May 2024) |
Financial Security for Importers
CARM Release 2 is targeted for May 2024. It is expected that Importers with registered accounts on the CARM Client Portal (CCP) will benefit with a 180 day extended period before being required to post financial security.
Following 180 days, security will be required in the form of a Cash Deposit or as a Surety Bond. Without security, an importer may be required to pay in advance.
Types of Security
Though importer security is mandatory (at the launch of Release 2 which is targeted for implementation in May 2024), importers have choices regarding the type of security they can obtain. GHY can provide you with more understanding and better insights to help you make the choice that best suits your business needs. You can contact your account representative or send an email to carm@ghy.com for more information.
Further details can be found in the CBSA’s FAQs on Release Prior to Payment here.
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.
Your CARM Ambassadors
How GHY can help you navigate CARM.
Introducing Our CARM Specialist and Ambassador – Sarah Marcotte
Navigating the complexities of the CBSA Assessment and Revenue Management (CARM) program can be a daunting task, especially with the diverse trade dynamics it faces, including eCommerce and multiple transport modes. At GHY, we go beyond being trade specialists; we are Certified Trade Compliance Specialists (CTCS) and CARM Ambassadors who are dedicated to understanding your unique business needs.
With Sarah Marcotte, our expert CARM Specialist, we are committed to crafting tailored solutions that seamlessly integrate CARM into your importing processes.
Embrace the changes confidently, without disruption to your operations or delays in your imports. Let GHY be your guide as you navigate CARM and shape outcomes that best suit your business.
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.
CARM Webinar 1 – February 4, 2021
CARM Webinar 2 – March 17, 2021
CARM Onboarding
We’re here to help you get familiar with CARM and its Client Portal (CCP), here are some tutorial videos.