All importers, resident and non-resident, must provide financial security to the Canada Border Services Agency (CBSA) prior to April 19, 2025, to allow shipments to clear customs before the payment of duties and taxes.
As part of CARM R3, the 180-day release prior to payment (RPP) transition period that went into effect on October 21, 2024, is set to expire on April 19, 2025.
Financial Security Options
RPP Surety Bond – The security amount must cover 50% of your highest monthly accounts receivable (duties and GST) during the previous 12-month period, with a minimum-security amount of $5,000.
Cash Deposit – The deposit must cover 100% of your highest monthly accounts receivable (duties and GST) during the previous 12-month period. Cash deposits must be completed via the CARM client portal.
If you have any questions or require assistance obtaining an RPP Surety Bond, contact your Mohawk Global representative or reach out directly.
By Scott Dawkins, Vice President & General Manager, Canada