PD7A — Statement of account for current source deductions
This image is of the revised PD7A, Statement for current source deductions that the Canada Revenue Agency will start sending out in May 2016. It includes four notes explaining how the notice’s contact information, statement date information, action you need to take, and your current balance are simplified and easy to understand. The four notes read:
- “1. YOUR CONTACT INFORMATION – Appears in the left corner”
- “2. STATEMENT DATE INFORMATION – Organized so you can easily identify your statement details”
- “3. ACTION YOU NEED TO TAKE – Provides your information and if actions are required”
- “4. YOUR CURRENT BALANCE – Provides you with your current-year balance”
A PD7A, Statement of account for current source deductions, was sent to you because you have a business with employees, and you are required to send in Canada Pension Plan (CPP) contributions, Employment Insurance (EI) premiums, and income tax deductions to the Canada Revenue Agency (CRA) on their behalf.
Sections of the PD7A explained
Remittance account balance
The remittance account balance is the total paid and unpaid assessed amounts for the year indicated.
The account summary is a record of all the transactions posted to your account since your last statement. This part of the statement may contain any of the following:
- Remittance account balances
- Arrears account balances
- Explanation of changes and other important information
Remittance account balances
Remittance account balances is a year-to-date record of the amounts you have sent in on behalf of your employees (remittances), and any additional credits. Only the current year amounts are added together to show you the current balance which also appears in the Remittance account balance box on page 1.
Arrears account balances
Arrears account balances is a record of any money you owe as a result of late or missing remittances. Do not use any remittance vouchers attached to the PD7A to make a payment on this amount owing. Instead, go to Make a payment to the Canada Revenue Agency to see your payment options or use the source deductions arrears remittance voucher (PD7D).
Explanation of changes and other important information
The explanation of changes section of your statement provides a more detailed written explanation of the changes or corrections made to your account.
Your PD7A may also include a Nil remittance form. This form is used to notify the CRA that you will not have employees for a particular period or that your account should be closed.
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