Payment of balance owing

Payment of balance owing

You can pay your corporation's balance owing electronically by using your financial institution's Internet or telephone banking services, or through a third-party service provider.

Most financial institutions allow a corporation to schedule a future-dated payment. If you don't have a bank account at a financial institution in Canada, you can pay by wire transfer.

For more information about payments, go to www.cra.gc.ca/payments or contact your financial institution.

Make your payment online using the Canada Revenue Agency's My Payment option. For more information, or to use My Payment, go to www.cra.gc.ca/mypayment.

Pre-authorized debit (PAD) is a free service that lets businesses set up a payment or payments to be made from a bank account to the CRA on a pre-set date to pay an amount owing or make instalment payments. By setting up a PAD through the CRA's My Business Account, businesses can reduce the risk of misallocated payments and avoid missing deadlines and the resulting penalties and interest charges.

If you have an amount owing, you can view a revised balance that includes interest calculated to a date you select by using the "Account balance and activities" service and selecting the "Calculate future balance" option at:

You can request that we stop issuing remittance vouchers and the envelope that accompany notices and statements using the "Enquiries service" and selecting the "Change mailing instructions" option at www.cra.gc.ca/mybusinessaccount or through www.cra.gc.ca/representatives.