The Canada Revenue Agency (CRA) issues a Statement of Account to keep taxpayers updated on their balances, payments, and transactions.
If you are asking, why would CRA send me a statement of account, the answer is simple: it provides you with an official record of all charges, credits, and payments linked to your account.
This document ensures accuracy, supports financial reporting, and can be required by lenders or other institutions.
Why Would CRA Send Me a Statement of Account
The CRA may send you this document for several reasons:
- To confirm payments – It shows that your payments were received and applied correctly.
- To list transactions – It records all activity, including instalments, reassessments, and transfers.
- To provide accurate balances – It displays what you currently owe or if your account is at zero.
- To assist lenders – If your Notice of Assessment shows a debit balance, lenders often require your Statement of Account to verify that taxes have been paid.
- To fulfill a request – You or your representative may have requested a customized statement for a specific time frame.
What is a CRA Statement of Account?
A Statement of Account is an official document from the CRA that summarizes:
- All posted payments and credits
- Charges such as reassessments, interest, and penalties
- Balances for each reporting or non-reporting period
- Confirmation of payments received
It is essentially a full transaction history that reflects your current standing with the CRA
How to Access or Request a CRA Statement of Account
You can view, print, or request your Statement of Account directly through CRA online services:
- My Business Account – For business owners.
- Represent a Client – For authorized representatives or employees.
- CRA My Account – For individuals.
Steps to Print or Save Your Statement of Account
- Log in to CRA My Account.
- Select Accounts and payments from the navigation menu.
- Click Statement of account.
- Use the Print/Save option in the top right corner of the document.
- Keep all printed pages for your records or submit them as required.
Where Can CRA Send a Statement of Account?
The CRA can send statements to:
- Your registered program account mailing address
- Your business physical location
- An alternate address you provide (temporary or permanent)
Address changes can be managed online through My Business Account or Represent a Client.
Why Lenders Request a CRA Statement of Account
When your Notice of Assessment shows a debit (DR) balance, it means you owed money when filing your taxes. Even if you paid later, the Statement of Account provides confirmation that the balance is cleared and now sits at $0. Lenders use this document as proof that your tax obligations are up to date.
FAQs on Why Would CRA Send Me a Statement of Account
1. What does a CRA Statement of Account show?
It shows payments received, charges applied, and balances for each reporting period.
2. How do I request a CRA Statement of Account?
You can request it online through CRA My Account, My Business Account, or Represent a Client.
3. Why do lenders ask for my Statement of Account?
Lenders require it to verify that you have paid any outstanding tax balances.
4. Can I stop CRA from mailing statements?
Yes. You can request to stop or restart mailing through the “Enquiries” service online.
5. Can CRA send my Statement of Account to a different address?
Yes. You can register an alternate address for a definite or indefinite period.
6. Does a Statement of Account replace my Notice of Assessment?
No. The Notice of Assessment shows the result of your tax return. The Statement of Account tracks ongoing balances and payments after assessment.
7. Can I get past statements from CRA?
Yes. You can request copies of previously issued statements through your online account.
