Remittance Incentive for Unclaimed Financial Assets
A new remittance incentive for unclaimed financial assets (UFAs) will be in effect for 18 months: from June 1, 2022, to November 30, 2023.
The objective of the incentive is recover as many UFAs so that they can be returned to their owners or right-holders. The liquidated proceeds of any UFAs that remain unclaimed are paid into the Generations Funds to benefit all Quebecers.
If you hold UFAs that have not been remitted to us in accordance with the law and you meet the eligibility requirements below, you can take advantage of the incentive to remit them without any of the usual consequences:
- we will waive the late-remittance interest (based on the value of the assets) that would otherwise apply; and
- we will not institute legal proceedings against you or charge any fines.
If you meet all the eligibility requirements below, you can remit UFAs under the incentive. To do so, complete form BD-81.5.A-V, Statement Concerning Unclaimed Property Remitted Under the Remittance Incentive: Unclaimed Financial Assets, and remit it with the UFAs.
To be eligible for the incentive, you must meet the following requirements:
- The information provided in form BD-81.5.A-V is accurate and complete.
- Revenu Québec has not instituted legal proceedings against you in application of the Unclaimed Property Act.
- The assets you are remitting became unclaimed in fiscal years ending:
- on or before December 31, 2021; or
- in certain cases, on or before December 31, 2022 (see Details of the Remittance Incentive for Unclaimed Financial Assets).
- You remit all the UFAs and form BD-81.5.A-V by November 2023.
We may ask you for more information or documents as we process your remittance to ensure that you are eligible for the incentive. If we do, we will give you a deadline for submitting the information or documents. Failure to meet the deadline will render you ineligible for the incentive.
You can make more than one remittance while the incentive is in effect (for example, if you forgot to include UFAs in a previous remittance). However, we recommend that you remit all your UFAs at the same time.
After we receive your UFAs and form BD-85.1.A-V, we will inform you in writing of our decision on your eligibility for the incentive.
If you still have questions, email us at ProduitsFinanciers-MIR@revenuquebec.ca and we will get back to you quickly.