Canada Revenue Agency Now Using The Bank of Nova Scotia for Wire Transfers

The Canada Revenue Agency (CRA) recently switched the financial institution it uses for wire transfers. These transactions are now processed by The Bank of Nova Scotia, replacing the previous facilitator, Desjardins. 

Non-residents who do not have a Canadian bank account and need to issue wire transfer payments to settle their liabilities with the CRA should update their banking information. Any wire transfer payments issued to the previous financial institution after November 30, 2024, may be rejected. 

Wire transfers can be used by businesses to make many types of payments to the CRA, including those related to:

• Corporate income tax;
• Excise tax, excise duty, and fuel charges;
• GST/HST remittances;
• Payroll source deductions; and
• Various other items, as listed on the CRA website.

For more information on how to make wire transfer payments to the CRA, please review “Pay at a foreign bank or credit union through wire transfer” on the Government of Canada website.

If you have any questions about your organization’s payments or remittances to Canadian tax authorities, please contact Ryan TaxDirect® at taxdirect@ryan.com or 1.800.668.1600.