Individuals can now register for and update their direct deposit information only through CRA’s online portal or through their bank or credit union.
Alternatively, they can request a change by mailing a form to CRA; however, CRA noted that processing time for these requests is up to three months. Individuals cannot update or initiate direct deposit by calling CRA.
Representatives can no longer submit changes through EFILE and cannot make changes through their online client access to CRA’s portal (unless the representative is a legal representative, which is fairly unusual).
Recent changes to the process for registering and updating direct deposit information are due to evolving threats and attempts to defraud the system.
ACTION: Ensure to properly update direct deposit information with CRA.
