Filing Return for the First time and Banking Info

[Sair]

Hello,

I am filing return for my dependent for the very first time who worked in Summer and thus have income in 2023. He is getting a tax refund on that income.

Shall i provide his banking Info thru Ufile so that the amount is directly deposited in his Bank or it doesn't work that way?

 

[Geo123]

Hello Sair,

Update on CRA myaccount.

[Sair]

Hello,

MyAccount is Not available when filing taxes for the dependent for the very first time. 

Was dependent before in my file. Now created his own ufile account and filing his taxes for the first time, since he had income in 2023.

[Papet]

Good day,

1) federal Direct deposit

By phone

To sign up for direct deposit or to change your account information, call CRA at 1-800-959-8281. You will need for your son:

• social insurance number
• full name and current address, including postal code
• date of birth
• most recent income tax and benefit return and information about the most recent payments you received from the Canada Revenue Agency
  You will need to explain that this is your son's first return
• banking information: three-digit financial institution number, five-digit transit number, and your account number

2) Quebec Direct deposit

For Quebec Direct deposit inscription is available with the Internet filing of the return.

In your son's Interview, look for Refund/Balance owing.

Select Change the direct deposit information.

In the page that opens, select Quebec for Change direct deposit information for.

[pardnme]

On 5/2/2024 at 12:19 PM, Sair said:

Hello,

I am filing return for my dependent for the very first time who worked in Summer and thus have income in 2023. He is getting a tax refund on that income.

Shall i provide his banking Info thru Ufile so that the amount is directly deposited in his Bank or it doesn't work that way?

 

yes this works!  i do this method with my first time filers

[Sair]

Thankyou Papet and Pardnme.

Yes, sending direct deposit info for the first time thru tax works only for Quebec but not for CRA. 

Although, i selected "Federal and Quebec" when giving direct deposit info in the Interveiw section, i am sure its only gonna work for Quebec and not for CRA.

[Papet]

Good day Sair,

Good luck with your returns

[epfran]

Yes, you can definitely provide your dependent's banking info in Ufile for direct deposit of the tax refund. It's a straightforward process and ensures they get the money directly into their account rather than waiting for a check.