Complete the form by entering your 15-digit CRA Payroll Account Number and select the business account you want the funds to be deposited in. Make sure this information is correct.
Complete the form by entering your 15-digit CRA Program Account Number and select the business account you want the funds to be deposited in. Make sure this information is correct.
CRA direct deposit for Business Banking clients FAQ
Registering for and deregistering from CRA direct deposits for businesses
Direct deposit is a convenient way to receive your CRA payments. Funds will be deposited directly into your eligible business account with no need for a cheque.
No. The CRA already has the information you originally submitted for direct deposit.
To be eligible:
the account you register must be a Canadian dollar chequing or savings account;
you must have been a business client with CIBC for a minimum of 120 days; and
you must have a valid CRA Program Account Number and one of the following CRA program accounts:
RT — Goods and services tax or harmonized sales tax
RP — Payroll
RC — Corporate income tax
ZA — Canada Emergency Rent Subsidy (CERS)
If you can’t or don’t want to set up direct deposits through CIBC Online Bankingfor Business or CIBC Mobile Banking, you can do so directly the CRA by signing on to CRA My Business Account.
If you don't set up direct deposits, the CRA will send a cheque to the address you have on file with them.
No, signing up for direct deposit does not register you for any benefits. To register for the CEWS, visit the CRA's website.
You can use a Canadian dollar chequing or savings account.
You can register each business by completing the registration form for each business. Use your business’s unique CRA Program Account Number when you fill out the form.
No. You can only register 1 account per CRA Program Account Number. If you register a second account for the same CRA Program Account Number, the first will be deregistered.
You can receive certain payments through direct deposit, including:
Corporation income tax refund
Goods and services tax or harmonized sales tax refund
Refund of payroll deductions
Canada Emergency Wage Subsidy (CEWS)
Canada Emergency Rent Subsidy (CERS)
Only the payroll account is linked to CEWS at this time. GST accounts and corporate income tax accounts are not linked to CEWS.
You may have incorrectly entered some information on the form. Refer to any on-screen messages to correct the missing or incorrect information.
If you submitted the form correctly, you'll get a message that says, “Your request to set up direct deposit has been sent.”
If you're signed up for the CRA's My Business Account service, you'll see a confirmation on your profile. If not, the CRA will send you a confirmation letter. If the request was not processed, the CRA will send you a letter.
To change your information, sign on to CIBC Online Bankingfor Business or CIBC Mobile Bankingand submit the form again. The most recent information you submitted will replace what you submitted before.
If you close your account, you'll have to deregister from CRA direct deposits or register another account. If you register another account, the information you entered before will be replaced by the latest information.
Registering accounts from other financial institutions
No. To register an account at another financial institution, contact that financial institution.
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