Report monthly liabilities to producers
- 1. Reporting requirements
- 2. Reportable and non-reportable liabilities
- 3. Completing section A – Total grain purchased, paid and cleared during the licensing period
- 4. Completing section B – Liabilities
- 5. Completing section C – Security
- 6. Completing section D – Difference
- 7. Sign the monthly liability report
- 8. After you submit your report
1. Reporting requirements
Email your completed form to firstname.lastname@example.org.
Licensed grain dealers, process elevators and primary elevators must submit a monthly liability report. The monthly liability report tells us what your outstanding payments and other obligations for grain to producers are on the last day of each month. Other obligations include grain received for storage at primary elevators, but not purchased, that must be returned to producers on request.
Monthly liability reports are essential to the Safeguards for Grain Farmers Program. We use the information from these reports to establish the amount of security you must provide in order to protect producers, as required by the Canada Grain Act. The Act provides a significant penalty if monthly liability reports are not submitted as required. It is a serious offence to make a false report.
You must include supporting working papers with your liability reports in your first year as a licensee, or when deemed necessary by the Canadian Grain Commission. Working papers consist of a list of deliveries where the grain has been received but not paid for, and a list of cheques issued that have not yet cleared your bank account. Licensing and Security will provide a template spreadsheet for you to use as your supporting working papers.
Deadline to report
Submit your report by the 15th day of the month following the reporting month. For example, your report of monthly liabilities for the month of June must be submitted by July 15. If the 15th falls on a weekend or holiday, submit your report by the following business day.
Even if you have no liabilities to report, you must send in a report with nil (zero) liabilities stated. In some circumstances you may be required to complete an interim report. Licensing and Security will tell you if you must complete an interim report.
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