Unclaimed money: There might be a cheque from CRA with your name on it

There is approximately $1 billion in cheques that have gone uncashed by Canadians

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      There’s another reason to visit Canada Revenue Agency’s website these days, besides applying for CERB.  

      There are cheques totalling approximately $1 billion that have gone uncashed over the past 22 years, and one (or more) could have your name on it.

      “As of May 2019, approximately 5 million Canadians had an estimated 7.6 million in uncashed cheques with the Canada Revenue Agency (CRA), dating back to 1998,” the website states.

      “This money belongs to Canadians and we're making it easy for them to get the money intended for them.”

      CRA cheques never expire or become stale-dated.

      There’s a new feature on the CRA website under My Account so you can find out if there might be a cheque waiting for you; select the Uncashed Cheques page. If you have an uncashed cheque, you can request that it be reissued.

      “The money comes from the millions of payments we issue each year in the form of refunds, benefits, and credits,” CRA notes. “Over time, some payments remain uncashed for reasons such as a taxpayer losing their cheque or if they move before it gets to them.”

      In other cases, cheques go uncashed because people believed the payment was issued to them in error, or they may have been lost, stolen, or destroyed.

      To prevent future cheques from going uncashed, the organization suggests signing up for direct deposit and updating your address if you move.

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