The annual review of the financial security requirement for Release Prior to Payment (RPP) has been rescheduled from its traditional July timeframe to an October-to-October cycle. This change is designed to give importers additional time to adapt to updated requirements.
Key Details
- Previous Schedule: July annually, as per subsection 7.8 of Memorandum D17-5-2, Memorandum D17-5-2 Financial Security for RPP.
- New Schedule: October of one year to October of the following year.
- Current Review Period: October 2024 – October 2025.
- Notification: Importers will receive portal notifications if changes to their financial security are required.
- Deadline for Compliance: January 15, 2026, and every January 15 thereafter.
- Reason for Change: To allow importers adequate time to meet new RPP requirements.
- Submit paper bonds well in advance of the January 15, 2026, deadline to mitigate processing delays and maintain RPP privileges.
- CBSA advises electronic submission via the CARM Client Portal to ensure timely processing and confirmation.
Action Required
Please monitor your CARM Client portal notifications and ensure your financial security meets any updated requirements by January 15, 2026.
For more details, refer to CBSA bulletin 5404.
Need assistance, please feel free to reach out to carminfo@willsonintl.com