We are pleased to advise that cheques for the return of contributions to the Education in BC fund may now be issued to current and former registrants who contributed to the fund. As referenced in our update last month, the College is required by the Canada Revenue Agency to prepare a T4A for each individual receiving returned contributions. Your Social Insurance Number (SIN) is required to complete this process. Your cheque for Education in BC contributions will not be issued until you submit your SIN to the College.
We recognize that a SIN is a very sensitive piece of personal data and as a result, the College has created a secure method to gather and temporarily retain your SIN in an encrypted format that is only accessible by the Director of Finance. Your SIN is being collected exclusively for the purpose of creating the T4A and will be deleted from our system after the T4A has been prepared. The T4A will be issued by February 2020 for the 2019 tax year.
You are required to include this amount on your 2019 income tax return and may seek the advice of a tax professional to determine how best to include this income. Cheques are only payable to the registrant name on file and cannot be issued to a corporation name.
Please provide your SIN through the “Education in BC Refund” link located in the Online Services section of the registrant portal.
The College is also making efforts to contact former registrants who have paid into the fund. These individuals must contact the College directly to learn more about how to obtain their cheques.
We thank you for your patience. For inquires or questions please contact the College at email@example.com.