CARM is Coming – Are you Ready?Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) is a new system for providing financial security for goods being imported into Canada. Under CARM, importers will be responsible for providing their own security rather than using security provided by their customs broker.
We recommend that all importers ensure they are registered on the CARM Client Portal by no later than April 2024 to avoid any potential disruptions to their business.
CARM also introduced the CARM Client Portal (CCP), which is a self-service portal that allows importers to more directly manage the accounting activity of their import business.
Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) is a new system for providing financial security for goods being imported into Canada. Under CARM, importers will be responsible for providing the own security rather than using security provided by their customs broker.
CARM also introduces the CARM Client Portal (CCP), which is a self-service portal that allows importers to more directly manage the accounting activity of their import business.
For more information, please read below.
What is CARM?
CARM stands for CBSA Assessment and Revenue Management project.
CARM is a multi-year initiative that will transform the collection of duties and taxes for goods imported into Canada.
ALL businesses importing commercial goods into Canada will need to have a CARM client portal account registered with CBSA.
King Bros. Limited is here to help guide you through the registration process. The first step to take in setting up your CARM account is to verify your organization with CBSA.
What you need to know:
Your import business number(s)
The amount and the corresponding transaction number of a recent transaction in your history.
A recent SOA payable amount & the corresponding month paid.
For assistance in obtaining recent transaction history & SOA payable amounts for the verification page on the CARM portal,
please contact King Bros. Limited via email at:
We recommend the financial manager or head of procurement be the person in your business to set up your CARM client portal account, thus becoming the Business Account Manager (BAM) of your CARM account.
Click below to start on-boarding to CARM.
01
King Bros. Limited recommends Option 2, the GC Key log in option, versus Option 1 (signing in with your bank credentials as the sign in partner).
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Once your account is verified, please look for ‘Manage pending third party requests.’
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You will see King Bros. Limited has requested delegation of authority to your account.
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Please grant King Bros. delegation of authority. This will enable our team to continue clearing shipments into Canada on your behalf. It is preferable to grant Business Management access type to allow for full servicing of your account.
In the future, CARM will also require importers to post their own financial security with CBSA. King Bros. Limited will be sending out further updates on this process as more information becomes available in the coming weeks and months. For now, we recommend that all importers ensure they are registered on the CARM Client Portal by no later than April 2024 to avoid any potential disruptions to their business.
CARM resource links:
Copyright: King Bros. Limited. All Rights Reserved © 2023.
Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) is a new system for providing financial security for goods being imported into Canada. Under CARM, importers will be responsible for providing their own security rather than using security provided by their customs broker.
We recommend that all importers ensure they are registered on the CARM Client Portal by no later than April 2024 to avoid any potential disruptions to their business.
CARM also introduced the CARM Client Portal (CCP), which is a self-service portal that allows importers to more directly manage the accounting activity of their import business.
Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) is a new system for providing financial security for goods being imported into Canada. Under CARM, importers will be responsible for providing the own security rather than using security provided by their customs broker.
CARM also introduces the CARM Client Portal (CCP), which is a self-service portal that allows importers to more directly manage the accounting activity of their import business.
For more information, please read below.
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