In order to provide ease of filing the Canada Revenue Agency (CRA) provides an online portal that allows business owners to interact with CRA across different business accounts. When you set up a My Business account you’ll need to provide your social insurance number, your date of birth, your current postal code or ZIP code, and an amount you entered on one of your income tax and benefit returns from the current tax year, or the previous one, and your business telephone number.
Steps to Set up “My Business Account” with CRA
There are a few steps required when setting up your CRA My Business Account. Here is a step-by-step guide for you.
Go to the CRA My Business Account Registration Page : Click Here
There are two options you can use to register.
Option 1-Login using a Sign-in Partner
If you already have online access to one of the financial institutions listed by CRA, you can sign in using your online banking login credentials.
Step 1-Sign in using your existing financial institutional login if applicable
Step 2-Enter your social insurance number
Step 3- Validate your identity by entering the requested information (pertaining to your previous year’s tax return)
Step 4-CRA can either snail-mail you a security code or email you a security code. If you choose to email, you will need to call CRA at 1-800-959-8281 to confirm this step. Email is the faster of the two options as snail-mail can take up to 10 days.
Step 5-Enter the security code you receive to login to your new account.
Step 6- After logging in you can provide your business number to connect to your new business login with CRA.
Option 2- Create a new UserID with CRA
Step1 –Go to the CRA My Business Account website and select the option and click the CRA Register link
Step2- You will be prompted to enter your social insurance number and click on Next
Step3- You will be asked to validate your identity. For this, you will be prompted to input your Postal ZIP code, your Date of Birth and Tax information(e.g., Amount entered in Line 20700 of your previous year’s tax return).The line number amount requested may vary. It may be from the current tax year or the previous one. Then click on Next
Step4-Then select a delivery method for a CRA security code, which is required to gain full access to My Business Account.
Depending on the delivery method you have chosen, you will be asked to confirm your current postal code or zip code or enter your email address.
Step 5- Next you will be asked to create a CRA User ID and password
Step 6 – You’ll be then prompted to create your security questions and answers. This is to help you authenticate your sign-ins
Step 7- To complete the process, once you receive the security code number, log in to your new account to finalize setting up your CRA account
Step 8- Now you’ll be prompted to enter your business number to connect your new login with that business
Now that you’ve created your CRA login and connected it with your business number, you can access the business’ tax information.
You will also be able to provide access to your accountant through their “Represent a client” account.
In case of further queries or any clarification, please feel free to book a free consultation with us at Rav Bhatia CPA Professional Corporation. Our experts will guide you to a seamless experience for all your technical queries.