More than 25K Canadians are sitting on uncashed cheques worth $1.4 billion

The CRA announced today that it will be sending e-notifications about uncashed cheques to over 25, 000 Canadians this month.

The agency reports that over 8.9 million cheques totaling nearly $1.4 billion have built up in its coffers over the years, with some cheques even dating back to 1998.

Every year, the Canada Revenue Agency issues millions of payments to Canadians, but some cheques go uncashed due to a variety of reasons, including misplacement or change of address.

The CRA launched a campaign back in February 2020 in an effort to get Canadians to cash their cheques.

The agency said they have so far returned more than two million cheques valued at $800 million back to taxpayers.

Approximately 25,000 e-notifications will be issued in both August and November of this year, as well as another 25,000 in May of next year.

The CRA said the average amount per uncashed cheque is $158, so it's definitely worth checking if you have any unclaimed payments in your account.

Regardless of whether you receive a notification or not, you can check if you have an uncashed cheque by logging into your CRA account online.