The Canada Revenue Agency (CRA) says that it has about $1.4 billion in funds from uncashed cheques sent out to taxpayers. These funds represent a mix of refunds and benefits. The payments can be sent out as cheques or through direct deposit.
The CRA had launched a campaign in February 2020, aiming to ensure these funds got to the taxpayers owed. By the end of May 2022, the CRA had successfully enabled Canadians to redeem cheques valued at $802 million. There are however still around 8.9 million uncashed cheques that represent the $1.4 billion currently held by the CRA. The average for the uncashed cheques is estimated to be $158.
To help inform more of these taxpayers that they do have uncashed benefits or refunds, the CRA will send out roughly 25,000 email notifications in August 2022 and a further 25,000 notifications in November 2022. Another batch of 25,000 notifications will be sent out by May 2023.
According to the CRA, this pile-up of uncashed cheques has been caused by various issues including taxpayers not updating their addresses, leading to delivery being unsuccessful. The authority also noted that some taxpayers would misplace their cheques and not seek replacements.
To help taxpayers easily check if they possess an uncashed cheque, unclaimed benefit, or credit payment that is owed to them, the CRA introduced an online feature that is accessible through My Account. On this page, taxpayers can view if there is an uncashed cheque in their name, dating as far back as 1998.
The CRA has confirmed that government cheques do not expire so the original cheque cannot be voided. This means that if you do not have the original and want a new cheque to be re-issued, you need to make a request through the portal. If you do have the original cheque, you can cash it now, no matter how old.
Those that need a replacement can fill and submit their application form online through the My Account portal. Providers can also use the Represent a Client Service to check if any client they represent has uncashed cheques.
Taxpayers are also being urged to consider signing up for direct deposit to avoid missing out on their entitlements. By using My Account, taxpayers can sign up for this option and begin receiving their payments directly through their bank accounts. Those that have not registered for My Account or signed up for email notifications may call 1-800-959-8281 for assistance in checking if they do have an uncashed cheque.
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