In this issue:
- AgriStability Form and Fee Deadline
- Use AgConnect
- What if the December 31 deadline is missed?
- Where to submit
- Why is Filing Important?
- Partnerships – all parties need to submit their information
- File your farming income (loss)
- Gather your supplemental information for 2018
- AgriStability Preparation Report
December 31, 2018, is the deadline for producers to submit their 2017 AgriStability Program forms and their 2018 program fees to ensure participation in the AgriStability Program.
Saskatchewan Crop Insurance Corporation (SCIC) reminds producers there are a number of ways to meet this deadline. The preferred method of providing AgriStability information to SCIC is through AgConnect. AgConnect is appreciated for its ease of use and the ability to quickly send AgriStability information to SCIC, allowing processing to begin sooner. SCIC also continues to accept AgriStability Program forms through mail, fax or at any of the 21 Crop Insurance offices across the province.
To use AgConnect, producers and their contacts need to activate their account. If you have not activated your account, but would like to use AgConnect, contact the AgriStability Call Centre at 1-866-270-8450 and they can help you get started.
December 31 is a deadline date for two different program years within AgriStability. To ensure producers can access AgriStability benefits for the 2017 program year, all forms need to be submitted by this deadline. The initial deadline for sending program forms was September 30 and because this date has passed, a $500 per month penalty will be applied; however, if no benefit is calculated there will be no penalty applied.
December 31 is also the deadline to pay 2018 program year fees. Submitting program fees by the end of December is essential to participate in AgriStability for the 2018 program year. An Enrolment/Fee Notice was issued earlier in the year providing details about the fee amount and the deadline for payment. April 30 (or 30 days from the date on your Enrolment/Fee Notice, whichever is later), was the initial deadline for paying the program fee. A 20 per cent penalty will be added to the fee amount because the initial deadline was missed.
Individual producers (sole proprietors) are reminded their income and expense (tax) information, provided on the T1163 form, must be submitted to the Canada Revenue Agency who will share this information with SCIC. For quicker processing of AgriStability applications, individual producers can also submit the income and expense information to SCIC using AgConnect. An individual’s supplemental information (inventories, receivables, payables, deferrals and purchased inputs) is to be submitted directly to SCIC and corporations and co-operatives are to continue to submit all AgriStability Program forms to SCIC. All forms can be submitted using AgConnect, by mail, fax or through any of the 21 customer service offices across the province.
Submitting Program forms is part of the annual process for producers enrolled in AgriStability. The information provided determines whether the producer qualifies for a benefit payment. It also ensures that the farm’s reference margin, which benefits are based upon, is up-to-date.
Completing your AgriStability Program forms each year helps build a financial profile that will provide you with coverage that is more accurate in the future. If a producer does not file annually, there will be gaps in the information needed to build the reference margin and this will cause delays when processing future program forms.
Individuals in a partnership must each submit separate program applications reporting 100 per cent of the partnerships income, expenses, accounts payable, accounts receivable, inventory, deferrals and purchased inputs. Each partner is to identify his or her percentage share of the partnership. SCIC will calculate each partner’s share of any benefit based on his or her percentage of the operation.
SCIC cannot proceed with processing a file until all partners in the operation have submitted their program forms. Partners can submit their forms using AgConnect, mail, fax or through any of 21 Crop Insurance offices across the province.
As part of the requirements to be eligible for AgriStability program benefits, all participants need to submit their farming income (or loss) information to the Canada Revenue Agency (CRA). This is collected on the income tax return submitted to the CRA. To be eligible for 2017 program benefits, producers need to submit their 2017 farming income (or loss) information to the CRA by December 31, 2018.
The end of the year is a great time to gather information used for the AgriStability Program. For example, items like livestock numbers, bales on hand and grain inventory can be recorded at this time. By taking stock of the items needed to complete the supplemental information requirements for the AgriStability Program, producers may find it easier to enter the correct information when it comes time to complete their program forms, later in the year.
Individual producers (sole proprietors) or corporations operating with a calendar year end need to report inventories, payables, receivables, deferrals and purchased inputs as of December 31, 2018. By taking a few moments, in late December or early January to record this data, a producer can save time by not having to search for the information later in the year when it comes time to complete the program forms.
AgConnect is another option for producers to record and retain this information. Since AgriStability uses the same numbers you provide to your accountant or form preparer, you can enter those numbers online with AgConnect to streamline your form submission. In addition, AgConnect stores your data each year you use it. Therefore, if you filed online last year, your previous information is at your fingertips.
Just a reminder, if you were in Crop Insurance last season, you can easily access last year’s acreage and crop production information for your farm. Simply give us a call at 1-866-270-8450 and ask for your AgriStability Preparation Report. With this in hand, you can finish your AgriStability Program forms quicker than ever before.
Has your main phone number changed? Do you have a new email address? If you have made changes to your contact information, please give us a call let us know of the new information. We do not want any delays to occur when working on your AgriStability file. Simply contact the AgriStability Call Centre at 1-866-270-8450 and provide the current information.
We're Here For You
Through continuous collaboration with industry groups, SCIC works together with producers to help manage their business risk. AgriStability Program experts are available across the province to help producers, accountants or form preparers.
Contact a Program Advisor or the AgriStability Call Centre at 1-866-270-8450 or by email to: firstname.lastname@example.org.Click here to access our Customer Service Office listings»