January 15, 2025. As part of the Canada Border Services Agency’s (CBSA) implementation of CARM Release 3, transition measures were introduced to support importers during the adjustment period. These measures, outlined in Customs Notice 24-29, provided relief from late accounting penalties, late payment penalties, and late payment interest for a 90-day period following October 21, 2024.
Please be advised that these transition measures will end on January 19, 2025. Starting January 20, 2025, goods imported into Canada must be accounted for within the required timeframes, and late accounting penalties may be applied for any delays.
To further assist importers, the CBSA will introduce new temporary relief measures focused on providing relief from late payment penalties and interest. These measures aim to address ongoing challenges related to payment allocation and account management in the CARM environment. The details of these new measures will be announced via a forthcoming Customs Notice.
Key Takeaways for Buckland Clients:
- Ensure all imported goods are accounted for within prescribed timeframes to avoid penalties after January 19, 2025.
- Stay informed about upcoming relief measures, which will temporarily waive late payment penalties and interest until further notice.
We are here to support you during this transition. For assistance with your CARM account or to ensure compliance with CBSA requirements, please reach out to your Buckland representative.
Thank you for trusting Buckland as your trade compliance partner.