Tax Savings Service Sign-Up SheetForm

Personal Information

First NameLast Name

Email

example@example.com

Address

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code

Phone Number

Please enter a valid phone number.

Business Information (if applicable) Business Name

Business Number

Tax Type(s) to Be Covered (select all that apply)

Personal TaxesBusiness TaxesGST AccountsPayroll Account

Deposit Preferences - Payment Method

E-Transfer (I will send funds as scheduled or sporadically) to: info@covured.caI prefer Automatic Withdrawals from my bank account

I prefer withdrawals to come out of my account

MonthlyQuarterlyOther

Please state below the date you pefer the withdrawals to come out of your account. e.g 1st, 15th, 31st of the month etc.

Select your preference to cover the $20.00 monthly service fee:

I will send an E-transfer each month of $20.00 to: info@covured.ca.I choose to have the monthly service fee withdrawn from my deposit account.I prefer to pay an upfront annual fee of $200.00, saving $40.00, via e-Transfer to: info@covured.ca.I prefer that the $20.00 service fee be included in the automatic withdrawals from my bank account each month.

Please upload your signed Direct Deposit/Pre-Authorized Debit (PAD) Form, completed by you or your financial institution.

I, _____________________________, authorize Covured Inc to manage my tax savings account and make year-end tax payments on my behalf. I agree to the selected service fee option and understand that I am responsible for making deposits as per the chosen schedule. I have also thoroughly read and understood the rules of this service that were provided with this form.

In case we can’t reach you, please provide emergency contact information:• Emergency Contact Name: • Emergency Contact Phone Number:

Tax Savings Account Rules:

• Insufficient Funds: It is the client’s responsibility to ensure that sufficient funds are deposited into the tax savings account. If the funds are not adequate to cover the year-end tax payment, Covured Inc cannot be held responsible for any unpaid taxes or penalties incurred as a result.
• Notification of Shortfall: In cases where deposits are insufficient, Covured Inc will notify the client 60 days before the payment to CRA is due. This will allow time to make additional deposits before the tax payment deadline.
• Liability for Tax Payments and Penalties: Covured Inc provides a tax-saving and payment service but does not assume responsibility for any penalties, fees, or interest resulting from underpayment or changes to the return by the Canada Revenue Agency. Clients are encouraged to regularly review deposit amounts to ensure coverage of their estimated tax liabilities.
• Service Termination: Covured Inc reserves the right to terminate a client’s service at any time, for any reason. In such cases, any remaining funds in the deposit account will be returned to the client within 7-10 business days, with no fees applied.

__________________________________________________________________

Automatic Withdrawal Policy:

•Authorization: By choosing automatic withdrawals, clients authorize Covured Inc to deduct the agreed-upon amount directly from their bank account on a specified schedule (monthly, quarterly, etc.).
•Withdrawal Schedule: Automatic withdrawals will occur on the preferred day of the client. Clients should note that there will be no advance notice of these withdrawals, as they are based on the clients chosen date.
•Insufficient Funds: If a scheduled automatic withdrawal is not honored due to insufficient funds in the client’s account:
>The client will be notified of the failed transaction and given the option to reschedule the payment.
>A fee of $50.00 will be applied for each failed transaction to cover administrative costs.
>Continued failed transactions may result in the suspension of the automatic withdrawal service until the account is brought up to date. If it continues to happen, the service may be terminated.
•Client Responsibility: It is the client’s responsibility to ensure that sufficient funds are available in their account at the time of withdrawal. Failure to maintain sufficient funds may impact their ability to meet tax obligations.
•Cancellation of Automatic Withdrawals: Clients may cancel automatic withdrawals at any time by providing written notice to info@covured.ca. A confirmation of cancellation will be sent once processed. Please note that there is no fee for canceling automatic withdrawals from your bank account

__________________________________________________________________

Deposit Account Withdrawal Policy:

•Requesting a Withdrawal: Clients may request to withdraw their funds at any time. To initiate a withdrawal, please submit a written request via email to: info@covured.ca.
•Withdrawal Fees: A processing fee of $20.00 will be charged for each withdrawal to cover administrative costs, including any bank fees incurred by Covured Inc.
•Processing Time: Withdrawals will be processed within 1-5 business days of receiving the request. Clients will receive their funds via e-transfer or check, based on their preference.
•Impact on Tax Payments: Clients should be aware that withdrawing funds may affect their ability to meet tax obligations for the current year. It is the client's responsibility to ensure sufficient funds remain in the account for tax payments.
•Limitations on Withdrawals: If a client withdraws all funds, it may result in the termination of their Tax Savings Service account. Clients will be notified of this outcome.