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Everything You Need to Know About CARM Phase 1
In one of our previous blog posts, we talked about what to expect from the CBSA Assessment and Revenue Management (CARM) project in 2021. There is much to expect from CARM, and importers must be aware of the upcoming changes and deadlines to prepare for CARM’s releases.
Phase one is just around the corner. In May and June, the registration for the online client self-service portal will be open for importers to register and delegate authority. And although registration will not be immediately mandatory, it is highly encouraged that importers register early on, since trade chain partners will be required to have a portal connection to do business with the Agency.
What is the CARM Client Portal?
The CARM client portal is a self-service tool designated to facilitate accounting and revenue management processes with the CBSA. It provides importers with visibility, efficiency, and consistency with direct accounting capabilities for their customs accounting activity.
It will allow you to:
- delegate access to business accounts to individuals or legal entities,
- set up pre-authorized debit (PAD), as well as credit card or financial institutions to pay accounts,
- request railings on the CARM Client Portal, and
- report revenue.
There are also new tools available for trade chain partners, such as duty and tax calculators, HS classification tools to assist in accurately classifying goods, and CARM chatbots in order to get users on board.
In May and June of 2021, importers will need to create their Portal Business Account and designate a Business Account Manager (BAM), who will be responsible for managing every day to day aspect of the account. Users will also be required to create an individual portal user account using GCKey or Sign-on Partner.
With these changes ahead of us, it is vital that importers and customs brokers are prepared to follow protocols every step of the way. At Thompson Ahern, we are determined to assist you and provide you with regular updates on the CARM project. Contact us at info@taco.ca to learn more about CARM!