All About Estates

Canada Revenue Agency cheques – who knew?

The Canada Revenue Agency (CRA) recently issued a release to highlight its policies related to missing and uncashed cheques. The release included some reminders and some surprsing information. Of interest to executors are the CRA comments where the representative may be missing a cheque, or have not cashed a cheque from the CRA.

If the deceased had an uncashed cheque then the executor is reminded to cash the cheque as soon as possible. There is no need to worry if the cheque is an old cheque as Government of Canada cheques don’t expire and can be cashed at any time, free of charge.

If you have received a cheque for someone who has died then give the cheque to the person managing the tax affairs of the deceased person, or return it to the CRA. If you are managing the tax affairs of the deceased then deposit the cheque into the estate account.

If you need a replacement cheque because the original CRA cheque was lost, destroyed, stolen, or is missing, then contact the CRA to request a replacement. The CRA will do a verification, which may include sending forms to be completed and a replacement cheque will be issued, if warranted.

About Derek de Gannes
Derek A. de Gannes: Director, Domestic & International Tax of RSM Canada. RSM Canada is committed to the highest level of integrity, quality and professionalism and provides clients with solutions in the area of Audit, Tax and Transaction Services. Email: derek.degannes@rsmcanada.com