Can importers request a refund of excess cash deposit security amounts after January 15, 2027?
Yes. If an importer’s annual security review results in a lower financial security requirement effective January 15, 2027, and they have provided security through a cash deposit, they may request a reduction of their deposit if the amount on file exceeds the new requirement.
How to reduce a cash deposit in CARM
Importers can reduce their cash deposit directly through the CARM Client Portal (CCP) by editing their existing cash bond.
What happens to the credit?
The credit can be:
- Applied against any outstanding debts on the account, or
- Requested as a refund once the applicable conditions for disbursement have been met.
- Refund requests can be submitted through the CBSA Contact Us form.
Alternative option
If an importer prefers not to make the change in the CCP, they can submit a support ticket to the CBSA Client Support Team requesting that:
- Their cash bond be reduced (for example, from $5,000 to $3,000), and
- The excess amount (for example, $2,000) be refunded by cheque.
- The CBSA can process the adjustment and refund request on the importer’s behalf.
Important reminder
Importers remain responsible for always maintaining sufficient financial security to remain compliant with Release Prior to Payment (RPP) requirements. Any reduction in security must still meet or exceed the amount required under the applicable financial security rules.