CARM Simplified: What does CARM mean for me?
Cole’s easy-does-it guide to making the transition to CARM
What is CARM?
The CBSA Assessment and Revenue Management, or CARM, project introduces new online tools that change the way tax and duty is collected for goods imported into Canada.
What are the key changes for importers?
CARM changes how you’ll work with your customs broker. Your broker can still complete your customs releases and entries. But several of the tasks your customs broker currently does for you will be your responsibility under CARM:
- Posting financial security (surety bonds)
- Accounting
- Payment processes
Fear not! You can delegate authority to your broker through the CARM Client Portal (CCP)—we’ll cover this in Part 3 of this series.
The main change you need to prepare yourself for is change itself.
We know: you’re used to your broker handling much of what CARM asks you to take on internally. But we’re here to help.
- CARM requires importers to change some internal processes, as well as think through how and to whom to delegate authority.
- It means getting comfortable with a new online system and making sure you register in the new CARM Client Portal.
- And it requires getting your own surety bond (rather than using your broker’s).
Confronting change can be overwhelming and intimidating. But, transitioning to CARM gradually, taking it all one step at a time, can make the process less stressful.
When do I need to be ready?
You’ll need to be ready for Spring of 2022. That’s when CARM’s Release 2 (R2) goes live and it will be mandatory to participate.
But don’t wait until next year to get started!
Begin preparing and getting set up now. You’ll need to be set up and accustomed to the new processes well before R2.
So, let’s begin.
What do importers need to do?
We will cover this in more detail in subsequent parts of this series, but here’s an overview of your to-do list as a Canadian importer preparing for CARM:
- Get your financial security (surety bond) in place
- Set up electronic payments with CBSA
- Adjust your Accounts Payable procedures for CBSA’s billing cycle
- Figure out your internal processes and people for the CARM Client Portal (CCP)
- Figure out how you’ll delegate authority to your customs broker and any other third parties.
- Register on the CCP and set up your account
You’ll need to have all of this in place by the Spring of 2022, but we suggest starting the process now.
Where do I go for more information?
- Read through our CARM webpages here.
- Download our CARM Guide.
- Check out the CBSA’s playlist of how-to videos.
- Reach out to your customs broker.
Need more support?
We’re ready to help!
Stay tuned for 5 more in-depth blog posts covering how to prepare for CARM, including:
- Financial security
- Delegation, and
- Registering on the CARM Client Portal.
Register for our webinar series today. We’ll cover each topic in even greater detail and give you the chance to get your burning CARM questions answered.
Don’t worry… if you miss any of these LIVE webinars, you can watch our recordings HERE. If you have further questions, we’re here to help!
Helping you transition to CARM. It's what we do.
