CBAM: Declaration and Quarterly Reports [UPDATED]

[Update] As of March 17, 2025, with the publication of Regulation (EU) 2025/486 by the European Commission, the procedure has been established for importers to obtain Authorized Declarant status.

What is the CBAM declaration?

As of October 1, 2023, with the implementation of CBAM, it is necessary to carry out a series of mandatory procedures: submission of quarterly reports during the transitional period, purchase of CBAM certificates, and from 2026 onwards, submission of annual reports.

The first and most important point about the CBAM declaration is that, from the start of the definitive period in 2026, you will be required to submit the CBAM declaration annually if you imported goods subject to CBAM during the previous financial year. This declaration must be submitted each year no later than May 31.

The second most important point is that it will be submitted by the authorized declarant through the European Commission’s CBAM portal and the corresponding CBAM certificates matching the declared embedded emissions must be surrendered.

What should I take into account when preparing the CBAM declaration?

The declaration must include:

• The total number of CBAM goods imported.
• Total CO2 emissions of these goods.
• CBAM certificates purchased to cover the declared emissions (the price is calculated based on the average price of the EU Emissions Trading System and is expressed in €/ton).

Another key point: declarations are made based on emissions from the year prior to submission; therefore, the deadline for submitting the 2026 declaration (the year of full application of the regulation) will be May 2027. This will be mandatory and not merely a data collection exercise.

What are CBAM certificates?

CBAM certificates refer to the payment that declarants are required to make. In this case, authorized declarants are the ones obliged to purchase these certificates, thereby assuming the financial burden.

In addition, every three months CBAM certificates must be prepared, and their price will be calculated according to the average price of EU ETS emission allowances. In this way, a large percentage of emissions from imported products is covered, ensuring that the same price applies as for products manufactured within the euro area.

Is there a CBAM transitional period? Is compliance mandatory?

Yes.

During the transitional period, importers or their representatives must register as Reporting Declarants and submit the mandatory quarterly reports. In addition, there was an update in October 2024 regarding the submission of these reports, which we detail below.

Attention! Updates on the submission of quarterly reports

The European Commission has issued new guidelines addressed to the competent National Authorities, specifying that efforts made by an operator to obtain actual data on the emissions of their products will be considered as evidence, even if the expected results are not obtained.

Updated timeline

In this regard, new key dates have been defined:

• January 1, 2025: The process to obtain authorization as an authorized declarant has opened. Remember that, as of January 2026, it will be mandatory for the importer or the indirect customs representative to be registered as CBAM declarants.
• March 28, 2025: Opening of the application process for authorized declarant status.
• Approval timeframe: National authorities will have 120 days to review and approve applications.
• January 2026: From this date onward, all importers must be registered as authorized declarants and will be assigned a CBAM number, which must be included in all customs declarations.

New requirements

With the approval of Regulation (EU) 2025/486, changes are introduced to the requirements that importers must meet in order to obtain Authorized Declarant status.

• Application requirements: submission of key information about the company, economic activity, and regulatory compliance is mandatory.
• Emissions management: the obligation to declare embedded emissions in imported products will remain in place.
• Operational and financial capacity: applicants must demonstrate that they have the required infrastructure to manage CBAM certificates, thereby ensuring the accuracy of declarations.

Registration exemption for electricity importers

Electricity importers are exempt from registration. Only identification before the competent authorities will be required, in accordance with the simplified procedure set out in Regulation (EU) 2025/486.

Who must submit this report?

Importers must register in the transitional register as reporting declarants in order to submit the reports. In addition, the reporting declarant may delegate access to the Transitional Register to a “CBAM service provider,” who may complete the CBAM report on behalf of and for the account of the declarant.

What type of emissions are declared?

Indirect emissions are declared. Until July 31, 2024, default values published by the European Union may be used as a reference.

Default values are no longer valid and a new option is enabled

A new function in the CBAM register called “not available” has been enabled, which declarants must use instead of default values, which have no longer been valid since July 2024. In addition, it is very important that declarants explain the situation in the comments and attach evidence of unsuccessful efforts to obtain data from suppliers. The Ministry for the Ecological Transition (MITECO) has confirmed that additional updates will be published in the coming months.

What information must these reports include?

These quarterly reports must specify:

• Direct emissions.
• Indirect emissions.
• The carbon price paid abroad.

When are the reports submitted?

Reports are submitted quarterly, in the month following the end of the reporting quarter.

Therefore, the first report corresponding to imports made in the last quarter of 2023 had a submission deadline of January 31, 2024 (extended to March 31 in the event of justified technical issues), and the final report must be submitted by January 31, 2026.

CBAM report submission deadlines

Will there be penalties if CBAM reports are not submitted?

Correct.

Failure to surrender CBAM certificates may result in penalties ranging from €10 to €50 for each ton of undeclared embedded emissions.

Who will be the competent authority to verify that everything is in order?

The CBAM verifier, who will be designated by a national body; in the case of Spain, it will be appointed by the Ministry for the Ecological Transition.

Conclusion

Now is the time to take action and understand the impact of this new green levy.

Keep in mind that this new regulation may affect your goods, your finances, and your administrative burden. In addition, as an importer, you will need to establish new communication channels with the manufacturer, as they are required to inform you about the emissions released during the manufacturing of the products you purchase.

We are ready to advise you and support you throughout the CBAM reporting process.

Count on us!

Learn more about What is CBAM or the Carbon Border Adjustment Mechanism?