Federal regulationCanada Gazette, Part IComment Period Closed

GI-2024-48-reg1: Proceeds of Crime (Money Laundering) and Terrorist Financing Reporting of Goods Regulations

Sponsoring body: Finance, Dept. ofIntroduced November 30, 2024Last checked August 25, 2026

Read the official text on gazette.gc.caOfficial version — Canada Gazette, Part I

Now enacted as SOR/2025-67. This proposal has become law — the page below reflects the version published for comment.

What this regulation does

This regulation establishes reporting, record-keeping, and penalty rules for the cross-border movement of goods under Canada's anti-money laundering and anti-terrorist financing framework, requiring importers, exporters, producers, suppliers, and warehouse operators to declare certain goods and maintain detailed records for six years.

Plain-language summary by Legisail.

Business impact

Compliance

Businesses involved in importing, exporting, producing, supplying, distributing, or warehousing goods are affected, including customs self-assessment (CSA) importers, sufferance warehouse operators, bonded warehouse operators, and businesses trading under free trade agreements. These businesses must maintain extensive records — covering purchase, payment, origin, inventory, and disposal of goods — for six years from the relevant date. Non-compliance can result in penalties ranging from $1–$500 for minor voluntary disclosures up to the full fair market value of the goods involved for more serious violations. No specific cost estimates or number of affected businesses are provided in the available RIAS text.

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Where this regulation is

Proposed

Comment period closed