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![]() Opening a Deposit AccountTable of Contents
Policy Statement 11.3a Use of Deposit Accounts for Payment of Fees to Corporations Canada
ContactsEnquiries
Françoise Langevin Registration
Jackie Gravelle Administration
Christine Laverty Appendix ADocument Service Order Form Purchase Order (for alternative format see Important Notices), PDF Format Appendix BRequest For Opening A Deposit Account Request for Opening a Deposit Account (for alternative format see Important Notices), PDF Format Appendix CLetter acknowledging receipt of your request to open a deposit account. Letter of Acknowledgment (for alternative format see Important Notices), PDF Format Notes Relating to Deposit AccountsIndustry Canada maintains deposit accounts for clients who regularly request services for which prepayment is required, such as copies of documents. The major benefit of a deposit account lies in not having to make remittances for each order since the services are paid out directly from the deposit account. It should be pointed out, however, that no interest is paid on funds deposited. To Open A Deposit Account To open a deposit account, the client forwards a written request and a cheque for a minimum of $100 made payable to the Receiver General for Canada. The request to open a deposit account should include the client's mailing address and the name and telephone number of a person who may be contacted regarding the deposit account. Deposit Account Number The Department assigns a unique deposit account number to each client, and this number must be quoted on all cheques, purchase order forms and correspondence relating to the deposit account so that the services provided may be charged to their account. Orders Customers requesting services must complete purchase order/invoice form (IC 2561) according to the instructions appearing on the reverse side of the form and send it to the branch responsible for providing the services. The Finance Branch provides a few copies of the purchase order form when issuing the deposit account number, and the customer can obtain additional forms by sending a request to the branches providing the services. Before requesting services, customers must ensure that the balance in their account is sufficient to pay for the services in full. If the balance is insufficient, there may be a delay in processing the order and any subsequent requests for services may be suspended as long as the account remains overdrawn. Deposits Customers must deposit funds in their account as often as required. To do so, they must send to the Finance Branch a cheque to the order of the Receiver General for Canada and indicate clearly that it is a payment to be credited to their deposit account. Customers are advised to ensure that the amount of each remittance is sufficient to cover all request for services that they intend to make for at least a one month period. Statement of Transactions Each month, the Finance Branch sends deposit account holders a statement of transactions indicating the balance and the transactions processed during the previous month. Customers wishing to correct errors in their accounts must send an adjustment request to the Finance Branch within 30 days of the date indicated on the statement of transactions. Account Closures At the customer's request, the Finance Branch will close the deposit account and refund the balances. When an account is inactive for more than six months the Finance Branch will inform the customer and unless otherwise indicated will close the account and refund the balance. Inquiries All deposit account inquiries must be directed to the Revenue Accounting Section (Telephone number (613) 957-3279 or 954-5395). All service inquires must be directed to the branch responsible for providing the service. |
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Created: 2005-05-29 Updated: 2005-10-24 ![]() |
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