Opening a Deposit Account
Table of Contents
- Use of Deposit Accounts for Payment of Fees to Corporations Canada
- Notes Relating to Deposit Account
Use of Deposit Accounts for Payment of Fees to Corporations Canada
- Clients may use deposit accounts for paper-based transactions which require payment of fees, provided that they send a letter with a detailed request
- To open a deposit account, complete a Request for Opening a Deposit Account and forward it to the Senior Revenue Clerk, Revenue section, Corporations Canada, Jets, 365 Laurier Ave West, 10th floor, Ottawa, Ontario, K1A 0C8 accompanied with a cheque for a minimum of $100 made payable to the Receiver General for Canada or by credit card, cash or interac. Your request should indicate your full mailing address and the name and telephone number of a person who may be contacted regarding the deposit account.
- Deposit account holders must submit requests to be charged to their deposit account on the appropriate work order forms, unless extenuating circumstances require a rush order to be placed by telephone as described in paragraph 5 of this notice.
- Priority will not be given to deposit account holders over clients who submit their requests by letter or other means. All requests will be dealt by employees in order of date received, which date is indicated on the request, and following the levels of service published by Corporations Canada.
- It is our wish to have clients adopt the practice of completing and sending work order requests in most instances to enable us to expedite orders to all clients in an equitable manner. We recognize that there will be times when clients will need rush orders to meet emergency needs and, therefore, we intend to entertain requests by telephone on this basis. We also recognize that the occasional set of articles may arrive without the appropriate work order request. These will normally be considered deficient unless an account number is provided with the application.
- If you frequently require the services of Corporations Canada, particularly where incorporation fees are concerned, a larger deposit will be more appropriate. We recommend that a minimum of $200 be kept in the account at all times. No services will be rendered to clients who show an overdrawn balance of $200 or more.
- Corporations Canada will follow-up with clients' overdrawn accounts on a weekly basis. Following the first notice, a client will have five business days to update the account. Afterwards, services will no longer be rendered until the account indicates a balance with sufficient funds to cover fees for requested services
- The Finance Branch should only be contacted where a problem exists relating directly to your deposit account. Problems or questions related to your request should be detailed in writing and sent to Corporations Canada. You may also directly telephone one of the employees on the attached list.
Client Services Section
Toll free: 1-866-333-5556
Notes Relating to Deposit Accounts
Industry 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 or by credit card, cash or interac. 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 and correspondence relating to the deposit account so that the services provided may be charged to their account.
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.
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 or by credit card, cash or interac 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 only if transactions were indeed processed during that time. 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.
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.
All deposit account inquiries must be directed to the Revenue Accounting Section (Telephone number 1-866-333-5556 ou 613-941-9042).
All service inquires must be directed to the branch responsible for providing the service.
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