Further to the message sent earlier this morning, CBSA have amended the December date.
Following is a CBSA message with regard to penalties and interest for the K84 for all months in 2013 in which CBSA will not assess late accounting penalties.
Although payment for FEBRUARY, MARCH, JUNE, NOVEMBER, DECEMBER 2013 monthly K84 statement will be due as usual on the last business day of the month (February 28th, March 28th, June 28th, November 29th and December 31st, 2013), the Canada Border Services Agency (CBSA) realizes that some months have fewer days to arrange for payment, creating a challenge for clients. Therefore, the CBSA will not issue a late payment penalty or charge interest if the payment is received after the dates mentioned above, but on March 4th, 2013 April 2nd, 2013, July 2, 2013, December 2, 2013, January 2, 2014 before 16:30 local time. Should payments be received after March 4th, 2013 April 2nd, 2013, July 2, 2013, December 2, 2013, January 2, 2014, 16:30 local time, they will be subject to interest and penalties effective March 4th, 2013, April 2nd, 2013, July 2, 2013, December 2, 2013, January 2, 2014.
As January 2, 2014 is a bank holiday in Quebec, clients who normally pay their K84’s at a bank in Quebec will have until January 3, 2014, 11:30 AM local time to provide their proof of payment to their payment office without incurring late payment penalties and interest. Therefore should payments be received after January 3, 2014, 11:30 AM local time, they will be subject to interest and penalties dating back to January 3, 2014.
Note - This also applies to Customs Self Assessment (CSA) importers. The customary month end Revenue Summary Form payment processes should be followed.
Should you have any questions, please contact the Assessment Unit by email at [email protected].
Topic(s)
Accounting & Payment
Information source
Canada Border Services Agency (CBSA)
Disclaimer
The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.