Statement of account for current source deductions (PD7A)

The CRA’s employers’ guide says it sends Form PD7A to each eligible regular and quarterly remitter to remit deductions. A buyer meets it when checking a seller’s remittance history before closing. Accelerated remitters use Form PD7A(TM) or a PD7A-RB booklet instead.

What it shows

• An overview and the remittance account balance for the year shown
• Arrears account balances, the amounts assessed, where there was arrears activity
• A nil remittance section, with boxes for a business that closed or ceased to employ, or whose legal entity or ownership changed
• A voucher for gross payroll, number of employees and amount paid

What to ask

The guide says the CRA stops mailing paper forms to remitters who pay electronically for a run of consecutive remittances, so a seller may have none on paper. Ask the seller for recent statements, or to show the balances and transactions in My Business Account, which the CRA says shows what appeared on the paper form. See how to handle payroll on closing day and payroll remitter types.