AgriInvest - Step 5. Managing your account

With My AAFC Account you can view your account information online.

You can:

• track the status of an application
• view current and prior year statements
• view the letters we have sent
• communicate with us electronically in a secure environment
• include attachments with your message
• file an adjustment or appeal online, including attachments
• manage your address and contacts

For more information, visit My AAFC Account.

You can request an adjustment to change information you provided, or if you think the information we used to process your form was incorrect.

If your adjustment increases your net income or your deposit, you must report the change to the Canada Revenue Agency first. AAFC will adjust your AgriInvest information once you send the program your Notice of Reassessment.

Your adjustment must increase or decrease your matchable deposit by $75 or more to be:

• eligible to make another deposit and receive a matching government contribution or
• considered an overpayment

You must request an adjustment to your information up to 18 months from the date we issue your original Deposit Notice. You can only make further adjustments to the information you initially adjusted by the later of:

• 90 days from the issue date on your revised Deposit Notice or
• 18 months from the issue date on your original Deposit Notice

For more information on adjustments, visit How do you make an adjustment to your form?

You can move your account to a different financial institution but you must call AAFC to request an AgriInvest Account Transfer form.

Call AAFC toll-free at 1-866-367-8506 to request the AgriInvest Account Transfer form.

To change your address:

• Log into My AAFC Account
  • Select Manage Address/Contacts and update your address
• Complete the AgriStability and AgriInvest Address Change form
  • Mail or fax your completed form to:

    AgriStability and AgriInvest
    PO Box 3200
    Winnipeg MB  R3C 5R7
    Toll-free fax: 1-877-949-4885

• Call AAFC at 1-866-367-8506
  • If you are the participant, you must provide:
    • your full name
    • your Participant Identification Number (PIN)
    • two figures from your most current AgriInvest form or statement
      • for example: AgriInvest Account Statement – Fund 1 or Fund 2 balance, withdrawal amount

Your primary contact is the contact you identified on your AgriStability and AgriInvest form to provide and receive information on your behalf. We update this information each year when you file your form.

To add or remove a contact person in addition to your primary contact person:

• log into My AAFC Account
  • Select Manage Address/Contacts and update your address
• complete the AgriStability and AgriInvest Additional Contact Person form
  • Mail or fax your completed form to:

    AgriStability and AgriInvest
    PO Box 3200
    Winnipeg MB  R3C 5R7
    Toll-free fax: 1-877-949-4885

• call us at 1-866-367-8506
  • You must provide:
    • your full name
    • your Participant Identification Number (PIN)
    • two figures from your most current AgriInvest form or statement (for example, your Statement A form or Deposit Notice)

You have 90 days from the date AAFC informs you of a decision the program made to submit an appeal (for example, if AAFC considers your form ineligible or denies your adjustment).

You may submit an appeal if:

• you missed a deadline because of exceptional circumstances beyond your control, or
• you feel AAFC did not correctly apply the AgriInvest program rules to your form

For more information, visit How do you submit an appeal?.

You can transfer your individual AgriInvest account to:

• a corporation

  If you incorporate your farming operation, you can transfer your individual account to the corporation.

  To transfer your account to a corporation you must provide:

  • written notice that you want to transfer your individual account to a corporation providing your last year participating as an individual and the corporation's:
    • name and contact information
    • business number
    • Participant Identification Number (PIN) if it has an existing AgriInvest account
  • proof that:
    • a legal transfer of the account has taken place under the Income Tax Act or a signed declaration that you filed an election under Section 85 of the Income Tax Act or
    • a copy of original contract between you and the corporation which lists the account as an asset

  If the corporation has an existing AgriInvest account, AAFC will instruct the financial institution that holds your individual account to transfer the funds.

  If the corporation does not have an existing AgriInvest account, we will send an Account Initiation Form. The corporation must open a new account at a financial institution. When the account is open, we will instruct the financial institution that holds your individual account to transfer the funds.

  a surviving spouse

  A deceased participant’s account can only be transferred to a surviving spouse. However, other beneficiaries who inherit most of an estate may use the account history.

  For more information, visit What happens to a deceased participant's account?

  a spouse on separation or divorce

  An account may be divided into two individual accounts based on the terms of the formal separation agreement.

  To divide an account you must provide:

  • a written request to divide your AgriInvest account, indicating your separating or divorcing spouse's:
    • name and contact information
    • social insurance number
    • Participant Identification Number (PIN) if your spouse has an existing AgriInvest account
  • a copy of a separation agreement signed by both parties with the signatures witnessed

  If your separating or divorcing spouse has an existing AgriInvest account, AAFC will instruct the financial institution that holds your account to transfer the funds.

  If your separating or divorcing spouse does not have an existing AgriInvest account, AAFC will send them an Account Initiation Form. They must open a new account at a financial institution. When the account is open, AAFC will instruct the financial institution that holds your account to transfer the funds.

An entity cannot transfer an account to another entity (for example, a corporation to corporation).

Account transfers do not extend your Deposit Notice deadline. You must continue to meet the deposit deadline on any previous Deposit Notices to be eligible for matching government contributions.

You can close your account any time. Contact your financial institution to withdraw the balance of funds and close your AgriInvest account.

The Fund 2 portion of the account is taxable in the year the funds are withdrawn. Your financial institution will report the closure to AAFC.

You cannot leave your AgriInvest account open indefinitely if you are no longer participating in the program. AAFC will close your account if:

• you do not submit a form reporting sales or purchases of allowable commodities for 2 years in a row or
• you operate an entity that dissolves (you must notify AAFC if you dissolve your operation.)

You can open an AgriInvest account any time by sending AAFC a completed form reporting sales and purchases of allowable commodities. AAFC will send you an Account Initiation Form with your Deposit Notice so you can open a new AgriInvest account at a participating financial institution.

To request a form or for further information call AAFC toll-free at 1-866-367-8506.

An estate has a number of account options, including:

• closing an account
• continuing the estate account
• transferring the account to the surviving spouse

For more information, visit What happens to a deceased participant’s account?