How Do I Open, Manage and Close My AgriInvest Account?

When you first apply for AgriInvest, we will send you an Account Initiation Form with your Deposit Notice. To open your new AgriInvest account, sign the form and take it to a participating financial institution of your choice. See the List of Participating Financial Institutions.

Can I move my account to a different financial institution?

Yes, but you cannot move your AgriInvest account from one financial institution to another on your own.

You must call us to request an AgriInvest Account Transfer Form. We will enter the details of your existing AgriInvest account on the Account Transfer Form and mail it to you. Once you receive the form:

  • Sign it and take it to the new financial institution to open a new AgriInvest account.
  • Your new financial institution will make arrangements with the financial institution holding your existing account to close the old account and transfer the funds to your new account.

Moving your account does not extend your Deposit Notice deadline. Make sure your AgriInvest account is moved and you make your deposit before your deposit deadline.

Can I transfer my AgriInvest account to someone else?

You can transfer your individual AgriInvest account to:

  • a corporation
  • a surviving spouse or
  • a spouse on separation or divorce.

An entity cannot transfer an account to another entity (for example, a corporation to corporation).

Account transfers do not extend your Deposit Notice deadline. You must continue to meet the deposit deadline on any previous Deposit Notices to be eligible for matching government contributions.

Transferring your account to a corporation

If you incorporate your farming operation, you can transfer your individual account to the corporation.

To transfer your account to a corporation you must provide:

  • written notice that you want to transfer your individual account to a corporation providing your last year participating as an individual and the corporation's:
    • name and contact information
    • Business Number
    • Participant Identification Number (PIN) if it has an existing AgriInvest account
  • proof that:
    • a legal transfer of the account has taken place under the Income Tax Act or a signed declaration that you filed an election under Section 85 of the Income Tax Act or
    • a copy of original contract between you and the corporation which lists the account as an asset.

If the corporation has an existing AgriInvest account, we will instruct the financial institution that holds your individual account to transfer the funds.

If the corporation does not have an existing AgriInvest account, we will send an Account Initiation Form. The corporation must open a new account at a financial institution. When the account is open, we will instruct the financial institution that holds your individual account to transfer the funds.

Transferring an estate account to a surviving spouse

A deceased participant's account can only be transferred to a surviving spouse. However, other beneficiaries who inherit most of an estate may use the account history.

To transfer an account to a surviving spouse, the executor/executrix or administrator must submit:

  • a completed Estate Administration Form or a signed written request to transfer the account providing the last year of participation for the deceased participant and the surviving spouse's:
    • name and contact information
    • social insurance number
    • Participant Identification Number (PIN) if they have an existing AgriInvest account
  • a certified copy of a probated will or letters of administration/probate and
  • a certified copy of the death certificate.

If the surviving spouse has an existing AgriInvest account, we will instruct the financial institution that holds the deceased participant's account to transfer the funds.

If the surviving spouse does not have an existing AgriInvest account, we will send an Account Initiation Form to the surviving spouse. The surviving spouse must open a new account at a financial institution. When the account is open, we will instruct the financial institution that holds the deceased participant's account to transfer the funds.

For more information on estate accounts, see What happens to a deceased participant's account?

Transferring or dividing an account upon legal separation or divorce

An account may be divided into two individual accounts based on the terms of the formal separation agreement.

To divide an account you must provide:

  • a written request to divide your AgriInvest account, indicating your separating or divorcing spouse's:
    • name and contact information
    • social insurance number
    • Participant Identification Number (PIN) if your spouse has an existing AgriInvest Account
  • a copy of a separation agreement signed by both parties with the signatures witnessed.

If your separating or divorcing spouse has an existing AgriInvest account, we will instruct the financial institution that holds your account to transfer the funds.

If your separating or divorcing spouse does not have an existing AgriInvest account, we will send them an Account Initiation Form. They must open a new account at a financial institution. When the account is open, we will instruct the financial institution that holds your account to transfer the funds.

How do I close my account?

You can close your account any time. Contact your financial institution to withdraw the balance of funds and close your AgriInvest account. The Fund 2 portion of the account is taxable in the year the funds are withdrawn. Your financial institution will report the closure to us.

Can the Administration close my account?

AgriInvest program rules require us to close your account and instruct your financial institution to pay the balance to you if:

  • you do not submit a form reporting sales or purchases of allowable commodities for 2 years in a row or
  • you operate an entity that dissolves (you must notify us if you dissolve your operation.)

Can I reopen my account?

You can open an AgriInvest account any time by sending us a completed form reporting sales and purchases of allowable commodities. We will send you an Account Initiation Form with your Deposit Notice so you can open a new AgriInvest account at a participating financial institution.

To request a form or for further information call us toll free at 1-866-367-8506. For detailed program information, see the AgriInvest Program Guidelines.

List of Participating Financial Institutions

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