Firstly, what is a CRA account? Let Turkin Mortgage walk you through. Canada Revenue Agency account is an essential aspect for every Canadian resident and citizen who has to file returns. The agency uses the platform to administer tax-related policies, bring relevant programs and tax credits to the users regardless of the territories and provinces. The agency is also responsible for distributing dividends and social benefits to Canadians who meet the eligibility requirements.

So, what is a CRA account for? Every Canadian will need the account to file taxes, check the annual deduction limits, and print a notice of assessment. You can also use the site to check your tax filing status, check if you have unclaimed tax refunds, and file claims for any uncashed cheques you may have. A CRA account is not just for individuals but also for businesses.

Knowing how to create a CRA account is a straightforward process, but most people struggle with the steps. This article will explore the CRA Canada account setup processes and the various methods you can use to create your individual account and your business account.

When you have my CRA account, you do not have to worry about reaching CRA representatives with any questions. You will not miss out on any changes or new information that directly impacts your tax payments or your business. Filing your taxes will be less stressful, and you will be able to take advantage of all the benefits. You or your representative will access my CRA site from any location, at any time, to read emails from the agency or send inquiries to the representatives. These are some of the factors that highlight the importance of CRA My Account.

What is The Canada Revenue Agency (CRA)?

Once you understand what the CRA is and its responsibilities, understanding a CRA account will be easy.

So, what is CRA? CRA is a federal body responsible for regulating tax rules in all the provincial borders of Canada. Every individual with a CRA account on their platform can access personal details of tax contributions, including the deductions withheld by employers, both provincial and federal income taxes, and CPP contributions. Employment Insurance premiums will also be accessible on the platform. These are sent to CRA Canada before being dispersed to the appropriate government bodies. The Canada Revenue Agency is also mandated with monitoring compliance on behalf of the government.

Although the main office is in Ottawa, the agency has offices in five other locations in the country. The offices are further divided into smaller ones that serve various roles such as tax collections and audits.

What is The CRA My Account and Do You Have It?

The Canada Revenue Agency uses an online platform called CRA My Account to fulfil its responsibilities. The platform is very secure and is used to access all tax information, such as deadlines for filing and the available benefits. Managing tax-related information is easier on the account because it can be accessed from anywhere by the individual or a representative. You can also manage your personal data according to how circumstances change around you to ensure you do not encounter any problem with taxation.

You may find yourself wondering, do I have a CRA my account? If you have never registered, then go ahead and register. If you are a tax-paying resident or citizen, having an account is crucial. It will help you gain access to valuable information, including the tax benefits you are given. Every person can learn how to get my CRA account on the agency website. The information below will be helpful to you.

What Are the Benefits of Having a CRA My Account?

Everyone with or without a business can benefit from having CRA My Account, whether as a resident or citizen. The platform has been categorized accordingly for both business and personal use. The Canada Revenue Agency also updates new information on the site regularly, making it easier to keep up to date. When you have the account, you can access your personal information from any part of the country, which is better than waiting for a representative from the agency to brief you. The convenience and the quick access are some of the main benefits. You do not have to wait for official business hours to get the data or assistance you need.

My CRA account also makes it possible to complete many other processes without calling the revenue agency. For instance, you can apply for Canada Emergency Student Benefit (CESB) or Canada Emergency Response Benefits (CERB) through the platform. Other processes that can be completed through my CRA account include:

  • Confirming the status of your tax returns and trail your refunds.
  • Reading and printing Notice of Assessment, including those for the previous years. The information is always detailed.
  • Conducting audit inquiries and viewing carryover amounts.
  • Requesting for CPP, file GST/HST rebate, request EI ruling, or penalty reliefs.
  • Updating contact information, including your address, appointing a representative or updating children and family status.
  • Creating a suitable payment plan for owed taxes.
  • Submitting documents.
  • Accessing Lifelong Learning Plan and Home Buyer’s Plan.
  • Viewing Tax-Free Savings Account contribution room and RRSP deduction limits.
  • Accessing tax information slips and reading mails from the Canada Revenue Authority.

CRA My Account for Individuals

The CRA individual account can be used to access all relevant information about taxes, including all changes, benefits, and penalties. Below are some of the benefits you can experience when you have access to my account for individuals.

What Are the Benefits of My Account for Individuals

  • Viewing and printing ITR statements

Your tax return statements and notice of assessments for the present and past years can be accessed through the account.

  • Accessing all tax information

T4, T4A, T4A (P), T4E, T4 (OAS), and T5, among many others, are available when you log into the CRA site. These forms are crucial when filing taxes, and some are provided by employers. You can learn more about them to avoid making mistakes with your taxes.

  • Tax return modifications

You can log into the account to make changes when necessary. You can also keep track of possible refunds and learn about when to expect them.

  • Applying for child benefits

If you have children under your care and your salary is not enough to cater to all their needs, you can use the platform to apply for Canada Child Benefit. Through the platform, you will be able to determine the amount you can qualify for and view the progress as time passes.

  • Checking TFSA contribution

You can know your RRSP deduction limit and the available room for TFSA contribution for the next year by logging into your account. Researching these elements can help you understand them better.

  • Accessing Home Buyers Plan and Lifelong Learning Plan

If you intend to buy a home in Canada, accessing these topics on My CRA Account before investing your money can help you out.

  • Communication with CRA

Mails from the tax agency can be accessed and read through the account. You can also get notifications about possible changes that may affect you.

  • Climate Action Incentive Payment

The Climate Action Incentive payment, which has been around since 2019, can be viewed through My Account.

  • Credit payments

HST/GHS payments, available every 3 months, can be viewed on the account.

  • Submitting documents

Sometimes you may be requested to send over copies of some of your documents, which you can do through the account. You can also send any document that serves as proof for whatever case you are trying to sort out.

  • Bank applications

You no longer have to send cheque deposits to the bank. With the CRA my account for individuals, you can simply synchronize your bank with the account to ensure employment insurance benefits, tax refunds, and CPP are deposited directly to the account. Not only does this save time, but it is also less hassle for you.

  • Creating an ideal payment plan

If you have tax arrears, having My CRA individual account is one of the easiest ways to pay them. Through the services on the platform, you can set up a payment plan that works for your financial situation and lifestyle. Compared to paying the whole amount at once when you do not have enough funds, it is a better solution.

Some of the other benefits you will gain are:

  • Applying for a disability tax credit through the platform and accessing the new terms introduced in 2019.
  • Changing personal information when applicable: It could be a new address, phone number, bank details, or marital status. You will keep your records up to date with the government easily.
  • Reading POI statements and income documents: They can be opened in PDF through the account, which saves a lot of time and stress.
  • Filing Employment Insurance complaints with ease: Any issues or discrepancies you may notice about the payments or refunds can be addressed through My Account. You can ask for an EI ruling or a CPP.
  • Filing HST or GST rebates.
  • Handling tax returns with ease: Canada Revenue Agency introduced the auto-fill my return feature on the platform, making it easier for each person to complete taxes.
  • Viewing your statement and CRA account balance.
  • Getting a representative to help you manage your taxes when you are having difficulties. They can take over the account and access all the services on your behalf.

How To Register for CRA My Account for Individuals

Registering CRA my account for individuals can be done in one of two ways. The first involves using the official site, and the other involves using trusted and accredited third parties. Both can get you the authorization you need, which will enable you to access all the features of the platforms and enjoy all the benefits mentioned above. Make sure you confirm and collect the necessary information before starting the process of the CRA account register.

Register for CRA My Account – Option 1

Creating CRA my Account for individuals is not as difficult as most people think. Once you have the correct documents, including a copy of the tax returns for the current and previous years, completing the remaining processes will be very easy. You will also need your social insurance number, which is also commonly referred to as SIN, physical address and postal code, and date of birth. No documents will be required to prove the birth date; however, the postal code must be for your current residence. Finally, the tax return entries will require an input of some amount of money indicated on the forms. However, if you have not filed because you are new in the country, you can still complete the process without it.

Step 1.

Visit the official Canada Revenue Agency website and navigate to CRA my account.

Step 2.

Go to the registration page by clicking “CRA Register”.

Step 3.

You will be taken to a different page where you will enter your Social Insurance Number. Double-check to be sure before clicking “next”.

Step 4.

The next stage is validating your identity. You have to enter all the relevant information such as date of birth, tax returns, and postal code in the appropriate fields. If you have not filed tax returns, enter zero in the Tax Information section.

When done, click Next.

Step 5.

Here, you have to create your password and user ID. Keep them in a safe but secure place for future use because you will need them for as long you are in Canada.

You will have to form and answer some security questions. Since you can only have one CRA My Account, you have to remember the information you put as security. If you lose your login credentials, you will use the security question and answer to recover them. You also have to remember the slightest details like where you use small and capital letters.

Step 6.

When the registration is completed successfully, you will be given access to limited information and services. CRA will mail you a security code that you use to complete the login. That may take between one to two weeks, depending on your location.

Register for CRA My Account – Option 2.

You can also use a third party to get a CRA account. The second option is usually simpler for most people, but you have to make sure the CRA trusts the sign-in partner you choose. It can be a financial institution. Using your bank is better. It is easier to log in through the bank’s credentials. Once you enter the correct details, the site will redirect you to the financial institution’s log-in interface. You then enter your credentials to get into the CRA platform.

Like with the first option, you will need your date of birth, tax returns for the previous two years, and your Social Security Number. Then, you will follow the processes included in steps 3 to 5. Next, CRA will send you the security access code, which you can use to access all the services on the platform. Use the code to sign in through the trusted partner. After keying in your log-in details, a pop-up will prompt you to enter the code, after which you will have unrestricted access.

The key with this option is to choose a trusted partner and not just any other website.

What is CRA My Business Account?

A lot of information about your business can be accessed through CRA my business account regardless of the enterprise type or size. The information can not only help you grow your business venture but also ensure you avoid tax problems. You can view excise duty and tax information, corporate income taxes, GST/HST tax returns, and payroll deductions. Information about returns and a lot of other resources can be found on my business CRA account.

Why You Need CRA My Business Account

CRA My Business Account is specifically designed for businesses operating in Canada, whereas CRA My Account for individuals is for citizens and residents working in the country. The first step to take as an aspiring business owner is to create an account for your business on the platform. You will need your business registration number, which should be nine digits. Some of the benefits you will experience with such an account include:

Access to payroll deductions

Every business must manage its payroll to ensure the employees are paid on time and everything else runs smoothly. My business CRA account allows you to do that without a lot of issues.

GST or HST payments

HST and GST taxes are part of every business in Canada. A business account on the revenue agency platform can help you pay the taxes quickly and keep track of related information.

Paying for imported and exported products

The Canada CRA my business account can also help you if you deal with import and export products like art pieces, beer, or wine. Paying taxes will be easier if you have an account with the revenue agency. You will monitor all the payments, including the excise duty, which is mandatory for wine and beer imports.

Fuel charge claims

Whether you want to claim or file fuel charges, Canada CRA My Business Account will prove to be useful.

Charity contributions

If you wish to give back to the community through your business, you can enjoy some tax benefits that you can only claim through the revenue platform. The charities don’t have to be in your neighbourhood or community for you to enjoy those benefits.

Pay your contractors

If you are hiring individual contractors who are not incorporated, you will be required to pay taxes. Again, registering the business on the revenue platform is the best way to handle that.

There are several other benefits you can use to give your business the competitive advantage it deserves. An example is the payment of corporate business taxes, which must be done through my business account. You can explore all the features on the website to find the right programs for your business, depending on its industry.

For better results, get a separate business number and find all the programs you can use to make the business more profitable. It will also help you take advantage of all tax exemptions and benefits.

What You Should Know About CRA My Business Number

CRA My Business Number, also known as BN number, is a unique figure consisting of 9 digits and given by the Canada Revenue Agency. It serves as the original tax identification for your business and is used for handling tax-related issues in the provincial, federal, and local governments. No other business will have similar figures as yours, even if you operate in the same industry.

What Are The CRA My Business Account Types?

The CRA has different types of business accounts in their programs. You should go through each one to determine if it is a good fit when setting up my business account. They include:

  • Import/export, which is also known as RM.
  • Payroll, which is also known as RP.
  • Goods and services tax. Also known as RT or harmonized sales tax.
  • Corporate income tax, abbreviated RC.
  • Information return or RZ.

The only way to add more programs to your account is by having an active one. The basic business account is 9 digits as given by the Canada Revenue Agency. The programs have 15 digits. The BN number forms part of the program numbers, usually the first nine characters.

How to Set Up a Business Account With the CRA?

Before attempting to create CRA My Business Account, make sure you have an active individual account. You cannot proceed with the process of setting up the business registration without a personal one.

Business registration can be done in two ways. One involves using a sign-in partner, while the other includes using the account details you have. That is why a personal account is crucial. Compare the two below and choose the easiest method to get your Canada CRA My Business Account.

How to Register for CRA My Business Account Using a “Sign-in Partner”

After finding a trusted partner, use the following steps to create the account.

Step 1.

Find a trusted sign-in partner, usually an online banking platform, then use your login information to access the account. CRA has a list of options you can select from depending on the financial institution you use.

Step 2.

Choose your bank from all the options you will find.

Step 3.

At the bank’s login interface, enter the credentials you regularly use. For example, it could be a debit card number and password.

Step 4.

When the login is successful, you will be taken to another page where you have to accept the terms and conditions. Although most people usually ignore reading them and go directly to acceptance, you should go through them before clicking “I Agree”.

Step 5.

Here, enter the business number. If you do not have one, contact Canada Revenue Agency and they will give you a unique one for your business.

Step 6.

After logging in successfully, you will only have to enter information according to the prompts you get. Make sure you fill in the mandatory fields as you keep moving to the subsequent pages. Follow the prompts until the end, and you are done.

How to Register for CRA My Business Account Using a “Your Existing CRA Account”

The other option is opening a CRA for My Business Account using credentials from a personal one.

Step 1.

Get to the CRA sign-up interface by visiting the official site.

Step 2.

Click CRA My Account and input your current sign-in information to access the account.

Step 3.

The page will automatically redirect you to the Terms and Conditions landing page, where you have to click, I Agree.

Step 4.

You will then be redirected to the CRA Business Account sign-up page. Use the unique business number CRA sent you to proceed to the next step. It has to be a valid number.

Step 5.

The next stages will be easier to complete because all you have to do is press “next” as you enter the relevant information concerning your business entity.

How To Contact CRA

How do I contact CRA by phone, and is it possible? Reaching the Canada Revenue Agency with questions regarding business account registration or tax services is not as difficult as it may seem. All you need is your Social Insurance Number or SIN, date of birth, which can be the year of birth only, and information you used on your tax returns. Pay attention to the amount you entered as Total Income on line 150 because it is essential. Determine the service you need assistance with before calling the toll-free CRA number (1 (800) 959-8281).

Remember, the process of how to contact CRA can be stressful when you do not have all the information mentioned above or do not know what kind of help they should give you.

Why You Have Uncashed Cheques From the CRA My Account And How to Claim Them

Knowing what happens when CRA owes you money can keep you from missing out on the tax benefits from the agency. Most people fail to follow up when the cheques do not come through, and others ignore and do not check. You have to remember that reaching CRA with inquiries can be very easy because they are available most of the time – 21 hours daily- and will always answer all your questions regarding the refunds and other services.

Some of the factors that can cause you to have uncashed cheques include failing to update CRA My Account after moving to a new address, the cheques getting destroyed before you can cash them, or the cheques being stolen. In addition, sometimes, the CRA system may generate an error that results in the cheques being issued prematurely.

The good news is that getting paid for them is very easy with the My Account platform, especially because they do not expire. So you will not lose that money unless you decide not to follow up with the agency.

Your next question may be, “how long does it take for CRA to process uncashed cheques?” The answer is at least one month. Canada Revenue Agency has mentioned that it can take up to 60 days for the request to be processed, but you can be sure you will get your money back regardless of how long it takes because the cheques do not have expiry dates. The best way to avoid unnecessary delays is by sending the application sooner, which means finding out if you have uncashed cheques from CRA My Account as soon as possible.

You will need to sign in to the account to confirm whether you have missing cheques, then follow the steps below to file your claim. Make sure you fill the form accurately to get the correct payment. To avoid similar incidences in future, set up a direct deposit with your bank. It will be a guaranteed faster and simpler way of enjoying the tax benefits. You should also update the CRA database with your contact information, especially your address.

Step 1.

Enter your account through the individual account sign-in link. Then, enter your username and password to gain access.

Step 2.

You will land on the My Account overview page, where you can access all the features and services.

Step 3.

On the right-hand side, click Related Services and move to Uncashed Cheques, which should be located at the bottom section.

Step 4.

Click the link and wait.

Step 5.

All the uncashed or unclaimed cheques will be displayed with a matching description.

Step 6.

Complete the process by filling and submitting the form that will pop up.