July 15, 2024

Managing your business taxes and interactions with the Canada Revenue Agency (CRA) can be easy with a CRA My Business account. This online portal offers numerous benefits to business owners, making it easier to handle your tax obligations. In this post, we’ll highlight the top three benefits of registering for a CRA My Business account and provide you with simple, step-by-step instructions on how to get started.

Top 3 Benefits of a CRA My Business Account

1. Convenient Access to Your Tax Information for you and your Accountant

With a CRA My Business account, you have 24/7 access to all your tax-related information with a single login to manage multiple entities and personal tax matters. This includes your account balance, payment history, and as well as important information such as tax filing deadlines, payroll remittance requirements and digital copies of all correspondence sent by CRA.

My Business Account is also mandatory in order to authorize representatives such as your accountant.

Having all this information at your fingertips means you can manage your business taxes more efficiently and stay on top of important deadlines for you and your advisor.

2. Easy Online Transactions & Enhanced Communication with CRA

The portal allows you to perform a variety of transactions online, such as filing returns, making payments, and submitting documents. This eliminates the need for mailing paper forms or visiting a CRA office in person, saving you time and making it easier to stay compliant with tax requirements.

3. Self-Manage Account Important Account Updates

Update important information such as your business address, CRA representatives as well as direct deposit information so that you never miss a thing.

How to Register for a My CRA for Business Account

If you already have an existing CRA user ID and password, check out How to link your Social Insurance Number (“SIN”) to your Business Number (“BN”)

To set up a new CRA My Business Account, follow these easy steps to get started:

1. Gather Required Information

Before you begin the registration process, make sure you have the following information ready:

  • Your Social Insurance Number (SIN) or Business Number (BN)
  • Your most recent personal or business tax return
  • Access to your email for verification purposes

2. Visit the CRA Website

3. Choose Your Login Method

You have two options to log in:

  • Sign-In Partner: Use your online banking information if your financial institution is a participating partner.
  • CRA Login: Create a CRA user ID and password if you prefer not to use your banking credentials.

4. Create a CRA User ID and Password (If Using CRA Sign-In)

  • Click on “CRA Register” if you are creating a new account.
  • Enter your SIN or BN, and follow the prompts to create a user ID and password.
  • Provide answers to security questions for added account protection.

5. Complete the Registration

  • Enter the requested information from your most recent tax return for identity verification.
  • Provide your email address for notifications and account security.

6. Validate your identity

  • By Mail
    • Once you have registered, CRA will mail you a security code within 10 business days.
    • After receiving the security code, return to the CRA login page, log in with your credentials, and enter the security code to activate your account fully.
  • Document Verification Service

7. Access Your Account

  • With your account fully activated, you can now log in anytime to access your business tax information, perform transactions, and communicate with the CRA securely.

Final Thoughts

Registering for a My CRA for Business account offers numerous advantages, including convenient access to your tax information, the ability to conduct transactions online, and enhanced communication with the CRA. By following the simple steps outlined above, you can set up your account quickly and start managing your business taxes more efficiently.

For more information and assistance, visit the CRA official website.

Helpful Links

My Business Account registration using a CRA user ID and password

How to link your Social Insurance Number (“SIN”) to your Business Number (“BN”)