AgriStability Update - July 2022

Beat the rush and get your results sooner

While there may never be an ideal time for paperwork, completing your AgriStability information and submitting your forms well in advance of the September 30 deadline allows SCIC to process your file sooner. And if you are in a benefit position, your payment is issued faster.

Once you have year-end information for your farm, you are ready to complete your AgriStability forms.

To be able to access a benefit from AgriStability, participants are required to complete and submit their program forms. Even if you do not receive a benefit payment, submitting your program forms annually ensures your farm’s reference margin is up to date and helps avoid file processing delays in subsequent years.

Learn more about AgriStability margins in the following video excerpt:

How to submit your forms

Program forms can be submitted by fax, mail or email, or delivered in person at any SCIC customer service office. You can also choose to use AgConnect to easily enter your program information online.

• Individual producers (sole proprietors) must submit their income and expense (tax) information, provided on the T1163 form, to the Canada Revenue Agency (CRA). CRA then shares this information with SCIC. An individual producer’s supplemental information (inventories, receivables/deferrals, payables, and purchased inputs) are submitted directly to SCIC. Corporations and co-operatives submit all AgriStability program forms directly to SCIC.

• Partnership operations must have all parties submit their information. SCIC cannot process a file until all partners in the operation have submitted separate forms reporting 100 per cent of the partnership’s income, expenses, accounts payable, accounts receivable, inventory, deferrals and purchased inputs. Each partner must also identify their percentage share of the partnership. AgriStability benefit payments are based on these percentages.

Crop Insurance customers can request an AgriStability Preparation Report

If you were in Crop Insurance in 2021, you can request your AgriStability Preparation Report with your acreage and crop production information to help you with completing your 2021 AgriStability forms. Simply contact the AgriStability Call Centre at 1-866-270-8450.