How often do you reach out to your accountant to ask them to transfer a payment, provide a copy of your Notice of Assessment, change your mailing address or ask what the current balance owing is on your Business Account? Did you know you have the ability to view and manage all of this yourself using CRA My Business Account?
If you have a corporation or a sole proprietorship with a GST/HST or payroll account you can access all of these services and many more. You can also use CRA My Business Account to authorize your accountant as a representative so they can access your documents and business records online.
Why do you need a CRA My Business Account?
CRA My Business Account provides an easy and secure way to file and pay taxes, access documents and up-to-date information about your tax accounts and receive important updates and alerts from the CRA.
In October 2022, the CRA made changes to the Confirm my Representative service, meaning a CRA My Business Account is now mandatory in order to authorize an accountant (or other representative) to access your documents and file tax returns on your behalf.
That means if an accountant does your taxes, you need a CRA My Business Account in order to give them access.
How to register for a CRA My Business Account
You can register for a CRA My Business Account by going to the My Business Account page on the CRA website. Under “Option 2 – Using a CRA user ID and password,” select “CRA Register.” You’ll be asked to enter your social security number, and then you’ll be directed to fill in the information needed to register.
The CRA will mail you a CRA security code, which you will need to complete the registration process.
See the CRA’s video walkthrough for a full explanation of registering for a My Business Account.
When do I need my CRA My Business Account registered by?
If you want to have a representative or accountant be able to access your business records online, you should register for a My Business Account as soon as possible. The initial process is relatively quick, but you’ll need to wait for your security code to come in the mail before completing the process.
As is usually the case when it comes to your taxes, the sooner you are prepared, the better!
If you are a current RHN client, we can help walk you through this process if you have issues. Contact us and we will do our best to answer your questions.