What are CRA uncashed cheques and who qualifies?

They are past CRA-issued refunds, benefits, or credit payments that were never deposited. Any taxpayer or beneficiary who was originally entitled to a payment can qualify for a reissue. Eligibility depends on prior CRA records, not new criteria, and can include amounts from several years if they remain outstanding.

How do I check and claim through My CRA Account?

Log in to My CRA Account, review the uncashed cheques list, and submit a reissue request. Add or confirm direct deposit to speed payment. Ensure your address and banking details are current. Keep records that match the listed amounts. If needed, contact CRA for help verifying older entitlements.

Could this boost Canadian consumer spending in Q1 2026?

Yes, but likely modest and short-lived. As awareness rises, reissued funds can bump card and in-store sales, especially for essentials. The effect may fade by late Q1 as payments are spent or saved. Watch monthly retail sales and bank card updates for confirmation of timing and scale.

How might banks be affected by these reissues?

Banks may see temporary deposit inflows as customers receive and park funds, with some shifting to higher-yield savings. The impact on earnings is likely small but positive for funding stability. Listen for management comments on deposit trends, payment volumes, and any noted effect from CRA-related reissues.

Global Market Insights

CRA Windfall January 12: $1.7B Could Lift Retail, Bank Deposits

ByDanny Kontos January 13, 2026January 13, 2026

CRA uncashed cheques total roughly $1.7–$1.8 billion across more than 10 million payments. If reissued in Q1 2026, this cash could create a small, timely boost to consumer spending and bank deposits in Canada. We outline how this potential windfall may flow through the economy, what to monitor in retail data, and the bank signals that matter. Canadians can verify eligibility through My CRA Account. For background and claiming steps, see this source.