What Happens to a Deceased Participant's Account?

Coping with a loved one's death is difficult. We recognize that you are going through a very difficult time. With this in mind, we hope the following information will help by answering some questions you may have.

Can the estate participate in AgriInvest?

The estate of a deceased participant may continue to participate in AgriInvest if the estate meets the eligibility criteria for the program. For more information, see Am I eligible for AgriInvest?

What forms does the estate have to complete?

Complete an AgriInvest form in the name of the deceased individual. Identify the estate by printing "Estate" in the participant name area. For more information, see What form do I complete for AgriInvest?

If the estate also files an optional return for the year of death, such as a return for rights or things that includes amounts not paid to the deceased at the time of death, the estate must also:

  • Complete the Statement A - Corporations/Co-operatives and Special Individuals if the estate is in British Columbia, Manitoba, New Brunswick, Nova Scotia, Newfoundland and Labrador or Yukon.
  • Contact the provincial AgriStability administration to request the correct form if the estate is in Alberta, Saskatchewan, Ontario or Prince Edward Island.
    • Submit the completed form to your AgriStability administration.
    • Your AgriStability administration will forward your information to us.

We will combine the information from both of these forms and calculate the estate's AgriInvest benefit.

What are the estate's AgriInvest account options?

The estate has a number of account options, including:

  • closing the account
  • continuing the estate account
  • transferring the account to the surviving spouse

AgriInvest program rules require us to close an AgriInvest account if the estate does not file a form reporting sales or purchases of allowable commodities for two years in a row. This rule also applies if the estate is transferred to the surviving spouse.

Closing an estate account

To process the deceased participant's final forms, the executor/executrix or administrator must submit:

  • a completed Estate Administration Form or a signed written request to close the account that provides the last year the estate will participate in the program and the current contact information and mailing address,
  • a certified copy of a probated will or letters of administration/probate, and
  • a certified copy of the death certificate.

The estate may then contact the financial institution that holds the account, withdraw the balance of funds and close the AgriInvest account. The Fund 2 portion of the account is taxable to the estate in the year the funds are withdrawn.

Continuing an estate account

To continue the account in the name of the estate, the executor/executrix or administrator must submit:

  • a completed Estate Administration Form or a signed letter advising that the estate will continue to operate the farm,
  • a certified copy of a probated will or letters of administration/probate and
  • a certified copy of the death certificate.

The estate of a deceased participant may continue to participate if the estate meets the eligibility requirements of the program.

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 detailed program information, see the AgriInvest Program Guidelines.

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