What Women Want to Know...if your accountant kills you off with CRA

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So, your accountant accidently killed you off… with CRA

Accidents happen, that’s why they call them accidents.  I don’t mean your accountant hit you with a car or catapulted you into Lake Superior from their sailboat, I mean they put a “date of death” on your tax return.

Oooops!

So now you have received a cheque from CRA payable to the estate of…YOU.  Hummm, interesting.
So, you pick up the phone and call the said accountant only to find the mailbox is full and the cell phone does not have voice mail. You panic. What about my actual tax refund, my CPP, OAS, Pension deposits, RIF deposits, my drivers licence, OHIP card, Passport…..what about the trip I have planned in 3 weeks… What about that?!

Breath, lets focus.  We know that for the last couple of years CRA has enabled a “re-efile” button to correct mistakes.  Perhaps that was done. 

#1.  Contact CRA and explain the misunderstanding and find out exactly what information they have received on their end.  They will advise you on how to correct the mistake if it has not already been done by your accountant. They will also advise you on the course of action required to have the cheque payable to your estate, reissued by their Speciality Services Department.

#2.  Contact the department for CPP and OAS and again, explain the misunderstanding.  They will let you know the process for reinstatement if that is necessary in your case.

#3.  Contact your Financial Advisor regarding your RRIF payment and Pension Plan payor (ie: Teachers Pension) and … you know the drill.  They will thank you for the concern but will probably let you know not to worry, the payments will continue to your account.  As for the tax withholding, that’s not a problem because CRA will not close your tax account until they receive a death certificate and a will and since your death certificate was not sent to CRA you are fine, they will continue to collect your money.

#4.  As for your driver’s licence, OHIP, Passport … relax.  For these to be cancelled, your executor would have to send the original document with a letter and death certificate to the appropriate departments to have them cancelled.

#5.   Go, go on that trip and have a large margarita for both of us…its going to be ok - time consuming, but ok.

Try this...

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To find out more of what you need to know, contact me:

Michele Wells Financial Advisor Manulife Securities Incorporated 

Focused WealthCare Balancing Finances & Lifestyle

call (807) 684-1900 fax (807) 626-5111 e-mail Michele.Wells@manulifesecurities.ca

find me on linkedIn: www.linkedin.com/in/michelewellsccs

This is for information purposes only. Thank you.