The Canada Border Services Agency (CBSA) continues to accelerate its evolution and modernization through its CBSA Assessment and Revenue Management (CARM) initiative. Throughout 2021 and 2022, CBSA will unveil Phase 1 and 2 of CARM, which will completely transform the agency’s import playbook from trade compliance to risk and information management.
From importers having to post financial security to receiving enhanced capabilities to compliantly correct entry information prior to bonds, there will be countless upcoming changes with the launch of CARM. These changes will be supported through a CBSA web portal which will give importers improved, real-time visibility and control over their transactions and trade chain partners.
By May 2021, all Canadian importers will be expected to set up their online CARM profile with CBSA to allow traders to continue to import into Canada. These profiles will be critical in allowing traders to continue to import into Canada in the future.
Importer functions that are affected include:
If you couldn’t attend the first webinar, join us on April 6th for our second session featuring industry expert panelists.
For any assistance or additional information on CARM, connect with Delmar’s Advisory Services team today.