If I use a customs broker to import goods, why am I required to post my own financial security?
Commercial importers are required to post their own financial security (e.g., surety bond or a cash deposit) to enrol and benefit from the Release Prior to Payment (RPP) program. A security provider can help you with this requirement. For details, review the Memorandum D17-5-2: Financial Security for Release Prior to Payment.
The Canada Border Services Agency (CBSA) has developed a transition plan to give commercial importers until April 19, 2025 to obtain their financial security.
If you do not obtain financial security when the RPP transition period ends on April 19, 2025:
Your imported goods may experience clearance delays or roadblocks under the new requirements.
Your customs brokers won’t be able to process the release of your imported goods electronically (EDI) and a manual/paper release request would need to be performed directly at the local CBSA office (i.e., manual/paper release request).
You would also be required to pay the CBSA directly for any applicable duties and/or taxes on your imported goods to obtain the release.
Need more help with CARM?
Our friendly and knowledgeable team is here to assist you. If you have specific questions about the CARM requirements for your shipments, please contact one of our experts.
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