The Saskatchewan Crop Insurance Corporation (SCIC) is reminding producers December 31, 2016, is the final deadline to submit 2015 AgriStability forms and pay 2016 program fees.
Producers must pay program fees by the end of December to participate in the AgriStability Program for the 2016 program year. An Enrolment/Fee Notice was issued earlier in the year providing details on the fee and the deadline for payment. April 30, 2016, (or 30 days from the date on the enrolment notice, whichever is later) was the initial deadline for paying program fees. A 20 per cent penalty will be added to the fee if producers missed the initial deadline.
All forms for the 2015 program year need to be submitted by December 31 to ensure producers can access AgriStability benefits. The initial deadline for sending in program forms was September 30. Forms received after this date and before December 31 will have a $500 per month penalty; however, if no benefit is generated there will be no penalty applied.
The final deadline for paying fees and submitting forms occurs on a Saturday and because this is outside of normal business hours SCIC will accept fee payments and form submissions until January 3, 2017, the first business day following the deadline.
SCIC accepts all program forms from individuals (sole proprietors), corporations, co-operatives and other entities. Individuals are reminded the T1163 form, which details their income and expense information, must also be submitted to the Canada Revenue Agency.
Producers also have a number of options to meet this deadline. The program forms can be submitted through AgConnect, as well, producers can review their Enrolment/Fee Notice and detailed Calculation of Benefits. AgConnect lets you 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.
Source : Saskatchewan Crop Insurance Corporation