Direct Deposit of Refunds
If your business has an account at a financial institution with an establishment in Canada, we can deposit any refund to which it may be entitled under the laws we administer into that account.
Registering for direct deposit
You can register your business for direct deposit:
- using My Account for businesses or My Account for professional representatives
- by completing form LM-2-V, Request for Direct Deposit: Individuals in Business, Partnerships, Corporations and Other Legal Entities
It will take some time for your account to be activated. During that time, any refunds will be paid by cheque.
With direct deposit:
- get refunds more quickly
- reduce the risk of lost or stolen cheques
- receive refunds even if you are absent from work (e.g. on sick leave)
- always receive payments on time even if there is a postal strike
- save time and money
Changing your account for direct deposit
If your business is already registered for direct deposit and you want to inform us of a change of account, either:
- use My Account for businesses or My Account for professional representatives
- complete form LM-2-V
Cancelling direct deposit
If you want to cancel your registration for direct deposit either:
- use My Account for businesses or My Account for professional representatives
- complete form LM-2-V
Viewing refunds and account statements
Log in to My Account for businesses or My Account for professional representatives to view the business's refunds and account.