CARM Introduces a New Billing Cycle: What You Should KnowCARM Release 2 will usher in several changes to the CBSA billing cycle.
Under CARM, the Commercial Accounting Declaration will be required to be submitted to CBSA within five business days of the release of the goods for both High-Value and Low-Value shipments.
High-Value shipments are shipments valued at over $3300 CAD.
Low-Value shipments are shipments values at under $3300 CAD.
Some shipments will be exempt from the requirement to submit the CAD within 5 business days of release:
- low-value shipments delivered by couriers will be required to have their CAD submitted by the 24th of the month following the month in which they are released. This is in line with the current requirements.
- Continuous Transmission Commodities will be required to have their CAD submitted by the 24th of the month following the month in which they are released.
- the CAD for Customs Self-Assessment shipments will be due by the payment due date (see below).
The payment due date is the same regardless of the type of shipment being imported. Payment is due to CBSA within ten business days following the 17th of the month following the month in which the goods were released. Importers will be able to make payments through the CARM Client Portal.
If you have any questions, please do not hesitate to contact us. We are here to help.
By Robin Smith, M.A., CCS
– Robin is a trade industry professional based in Victoria, BC.
CARM Release 2 will usher in several changes to the CBSA billing cycle.
Under CARM, the Commercial Accounting Declaration will be required to be submitted to CBSA within five business days of the release of the goods for both High-Value and Low-Value shipments.
High-Value shipments are shipments valued at over $3300 CAD.
Low-Value shipments are shipments values at under $3300 CAD.
Some shipments will be exempt from the requirement to submit the CAD within 5 business days of release:
- low-value shipments delivered by couriers will be required to have their CAD submitted by the 24th of the month following the month in which they are released. This is in line with the current requirements.
- Continuous Transmission Commodities will be required to have their CAD submitted by the 24th of the month following the month in which they are released.
- the CAD for Customs Self-Assessment shipments will be due by the payment due date (see below).
The payment due date is the same regardless of the type of shipment being imported. Payment is due to CBSA within ten business days following the 17th of the month following the month in which the goods were released. Importers will be able to make payments through the CARM Client Portal.
If you have any questions, please do not hesitate to contact us. We are here to help.
By Robin Smith, M.A., CCS
– Robin is a trade industry professional based in Victoria, BC.
