The Canada Revenue Agency (CRA) has updated and re-issued its Form RC366, which allows businesses to have amounts owed to them deposited directly to a bank account.

The updated form can be used to either start direct deposit or to notify the CRA of a change in existing direct deposit information. The form can be sent to the taxpayer’s tax centre, or can be attached to a refund or rebate application.

The requirements which must be met in order to set up a direct deposit arrangement for a business are listed on the updated form, which can be found on the CRA website at https://www.canada.ca/en/revene-agency/services/forms-publications/forms/rc366.html.