CARM Financial Security Deadline Extended to May 20
This extension will provide commercial importers additional time to complete the necessary steps and avoid potential disruptions to their operations.
The Canada Border Services Agency (CBSA) has announced a 30-day extension to the deadline for commercial importers to submit financial security under the CBSA Assessment and Revenue Management (CARM) system.
The new deadline for posting CARM financial security is now 3 am EDT on May 20, 2025—extended from the original date of April 20, 2025.
The CBSA launched the final phase of CARM on October 21, 2024, officially beginning a 180-day transition period.
During this time, commercial importers were required to register on the CARM Client Portal (CCP) and familiarize themselves with the new processes and requirements. This included posting financial security to access the Release Prior to Payment (RPP) program.
Under the CARM framework, all commercial importers are responsible for securing and posting their own financial security as a condition to participate in the RPP program.
Participating in the RPP program offers several benefits, including the accelerated release of goods, which helps minimize potential costs and delays at the border.
It also allows for deferred accounting and payment of duties and taxes, which helps improve cash flow management for Canadian importers.
Additionally, RPP participation supports supply chain efficiency by reducing border wait times and expediting customs clearance.
Importers who do not submit the required CARM financial security by the new deadline will no longer be eligible for RPP privileges and will be required to pay all applicable duties and taxes in full before their goods are released.
At Cole International, we provide customs and compliance consulting and customs brokerage services to help importers navigate changing regulations and simplify their import processes.
We also offer guidance on all CARM-related issues to ensure your business is compliant and ready for the full transition to the CARM system.
If you need support meeting the CARM financial security requirement or would like to discuss how this may impact your operations, please reach out to one of our trade professionals.