Business Risk Management

Overview

AgriInvest

What is AgriInvest?

Under the AgriInvest Program, producers can deposit annually up to 1% of their Allowable Net Sales (gross sales of allowable commodities less purchases of Allowable Commodities) into an AgriInvest account and receive a matching government contribution. Producers can then withdrawal their AgriInvest funds to cover an operating income shortfall or to make additional investments in their farm that might help mitigate risks or improve their farm income.

For a complete overview of the AgriInvest program, click here.         

Note: While AgriStability and Production Insurance are administered by AgriCorp, AgriInvest is administered by Agriculture Agri-Food Canada (AAFC). If at any time, you have a question related to AgriInvest you can call the AgriInvest Administration Monday-Friday between 8:00AM-5:00PM, Toll Free at 1-866-367-8506.

Eligibility

The only eligibility requirement to participate in AgriInvest is that you carried on the business of farming in the current program year, and reported farming income (or a loss) for income tax purposes.    

Step by Step Guide to Enrollment

For New Participants

What Information You Need to Provide

The first step to participating in AgriInvest is to fill out a T1163 form, which is an application form needed to participate in AgriInvest & AgriStability and send it to the Winnipeg Tax Service Centre located at 66 Stapon Rd, Winnipeg MB R3C 3M2. The T1163 form can be faxed in to 204-984-4862. The T1163 application form is available on the Agriculture Agri-Food Canada website or by calling the administration directly at 1-866-367-8506.

Application Deadlines

The deadline to send in your form is September 30th of the program year. Applications will be accepted until Dec 31st but for every month past September 30th, your maximum contribution that will be matched by the government, will be reduced by an amount equal to 5% of Allowable Net Sales (ANS).

How to Receive your Matching Government Contribution

Once your T1163 form is received, Agriculture Agri-Food Canada (AAFC) will send out an AgriInvest account initiation form. Take this form to any participating financial institution, they will open up an AgriInvest account. Once the account is open, make a deposit within 90 days to receive a matching government contribution.

For Existing Participants

Each year that you have an active AgriInvest account; AAFC will send you a deposit notice. You have 90 days from the date of your deposit notice to make a deposit into your AgriInvest Account and receive a matching government contribution.

Resolving Disputes Related to the AgriInvest Program

If you have missed the deadline to receive a matching government contribution, want to adjust the information used to calculate your Allowable Net Sales or have any other issue related to AgriInvest that you would like to appeal, you must fill out the AgriInvest Appeal Submission form or call 1-866-367-8506.

If at Any Point you wish to close your AgriInvest Account

You can chose to withdraw your balance and close your AgriInvest account at any time by notifying your financial institution that you wish to close your AgriInvest Account. Your financial institution will then notify AAFC that you have closed you no longer wish to participate in AgriInvest.

AgriStability

What is AgriStability?

The AgriStability Program is a whole-farm, margin-based program available to all producers that report farming income for tax purposes.

Under the Agri-Stability Program, a farm operation’s program year margin (eligible revenue minus eligible expenses) is compared to the farm operation’s reference margin. A government payment is made to the producer when the farm operation’s program year margin is lower by an amount that exceeds 30% of the farm operation’s reference margin.

For more information on AgriStability, you can contact AgriCorp at 1-888-247-4999 or click here.

Eligibility

There are two eligibility requirements to participate in AgriStability

1.    Complete a production cycle and at least?six consecutive months of farming activity in the program year and;

2.    Reported farming income (or a loss) for income tax purposes.

Step by Step Guide to Enrollment

 

For New Participants

Step 1: Complete a “New Participant Form” and send it to AgriCorp no later than April 30th of the Program Year.

  • When you send AgriCorp your New Participant Form, you must also include your T2042 (statement of farming income) or T1163 (AgriStability and AgriInvest Program Information) for each year that you reported farming income (or a loss) for tax purposes in the past six years.
  • If your farming business has been incorporated, attach your Statement A for each year you have reported a farming income (or loss) in the past six years.
  • How to send this information to AgriCorp: Once you have filled out your New Participant Form and attached either your T2042 or your T1163 you can mail your application to AgriCorp at the following address:

AgriCorp

1 Stone Rd.

Box 3660 Stn. Central

Guelph ON

N1H 8M4

OR  

Fax your application to AgriCorp: 519-826-4334

If you have any questions or want to confirm AgriCorp has received your application you can contact them by email: contact@agricorp.com or telephone: 1-888-247-4999.

Step 2: Once AgriCorp receives your New Participant From and tax forms, you will be sent a “fee invoice”. You must pay your fee by the April 30th deadline. AgriCorp provides the following methods of paying your AgriStability Fee:

1.    Send cheque payable to "Agricorp-AgriStability” with your invoice stub

2.    Pay at your financial institution with your invoice

3.    Pay using internet or telephone banking. Choose: Agricorp-AgriStability-Ontario

If you miss the fee deadline, you can still participate in AgriStability provided you pay prior to December 31st. If you miss the deadline AgriCorp will charge a 20% late penalty onto your fee.

For Existing Participants

Once you have been enrolled in the AgriStability program, you will not be required to sign up again.

To maintain your participation in the AgriStability program you must simply pay your program fee OR not cancel your coverage by April 30th.

If AgriCorp does not receive a request from you to cancel your coverage you will be automatically renewed into the AgriStability program. AgriCorp will automatically send out an invoice for the participation fee yeah year. Simply pay the fee in one of three ways:

1.    Send cheque payable to "Agricorp-AgriStability” with your invoice stub

2.    Pay at your financial institution with your invoice

3.    Pay using internet or telephone banking. Choose: Agricorp-AgriStability-Ontario

If you do not receive a fee invoice or wish to cancel your coverage, simply call AgriCorp at 1-888-247-4999.

Resolving Disputes Related to the AgriStability Program

If you believe that your Agristability payment calculation is incorrect:

The first thing you should do is call AgriCorp immediately, at 1-888-247-4999. If there is a simple solution, AgriCorp may be able to make an adjustment over the phone. If after speaking with the AgriCorp representative, you are still not satisfied you may request an amendment in writing. In your written submission you should be prepared to provide the following information:

  • Your contact information, the program year and Your PIN*
  • A clear explanation of why you disagree with AgriCorp’s calculation
  • A clear explanation of what is the correct payment you should have received. Don’t forget to include any supporting documents.
  • If there is new information that was not available or known at the time you submitted your original AgriStability application that you feel is relevant, it should be included.

AgriCorp will review your request and inform you of their decision as to whether or not they will recalculate your program benefits.

* Your AgriCorp Pin starts with an “A” and is followed by 8 numbers for example “A12345678”. You will need your PIN for all of the programs administered by AgriCorp. If you have forgot or lost your PIN call AgriCrop at 1-888-247-4999.

If Your Amendment Request is Not Accepted by AgriCorp

You can seek further consideration of your Calculation of Program Benefits, by requesting a review by the Business Risk Management Review Committee (BRMRC) within 90 days. The BRMRC will make a “non-binding” recommendation to AgriCorp on your review. “Non-binding” means that the BRMRC cannot force AgriCorp to act upon their recommendations.

Production Insurance

What is Production Insurance?

National, government-supported production insurance coverage plans for some commodities have been available in Canada for over forty years. Plans have evolved over time. For insured commodities, insurance coverage provides production risk protection to producers by minimizing the economic effects of crop losses caused by specified perils (such as drought, flood, hail, frost, excessive moisture and insects).

For more information on production insurance, you can contact AgriCorp at 1-888-247-4999 or click here.

Eligibility

For a list of commodities eligible for production insurance, click here.

Production Insurance, like any other insurance policy, has certain requirements for the policy holder to maintain coverage. To ensure you are fully covered when you need it you must:

  • Follow good farm management practices, if AgriCorp determines that your practices contributed to a production loss, you may lose some or all of your coverage.
  • Make sure that you meet all the deadlines to ensure your policy is in good standing.
    • For a list of important dates that apply for the commodity you produce, click here, and select your commodity, click “find programs”, click on “production insurance”, and then click “Deadlines” on the left-hand side of the page.
  • Contact AgriCorp if there is a change to the structure of your business.
  • Report any damage to AgriCorp as soon as possible. If you fail to report damage, AgriCorp may reduce or deny your claim. You can contact AgriCorp at 1-888-247-4999.

Step by Step Guide to Enrollment

For New Participants

Simply call AgriCorp at 1-888-247-4999 and they will walk you through the process. When you call, AgirCorp will arrange for one of their field staff to visit you and walk you through the enrollment process.

For Existing Participants

Unless you inform AgriCorp that you no longer wish to participate in the production insurance program, your coverage will automatically be renewed. Each year AgriCorp will send you out a renewal notice to remind you the details of your coverage.

Reporting Your Acreage and paying premiums

Once you report your Acres to Agricorp, they will send you out an invoice for your annual premium. Your premium can be paid using one of the following options:

  • Through Internet or telephone banking
  • Through your financial institution with the invoice
  • Through the mail by cheque, payable to Agricorp Insurance Fund. Mail your cheque to the following address:

Agricorp - Production Insurance

Box 4418, Stn A

Toronto, ON

M5W 3W9

To find the deadline for premium payment of your commodity, click here.

Making a Production Insurance Claim

If you experience crop damage, report it to AgriCorp as soon as possible. AgriCorp will want to come out to the farm to conduct a crop inspection prior to reseeding or harvesting. AgriCorp will require you to submit a Proof of Loss Form before you receive your claim.

In the event AgriCorp audits your claim, you should be prepared to provide evidence to support your claim. This could include weigh slips, input receipts, or any other documentation that can support your claim. In the event of an Audit, AgriCorp staff will directly inform you of what proof of claim they require.

Appealing AgriCorp’s Decision

If you disagree with AgriCorp’s decision on your Production Insurance claim, call them at 1-888-247-4999 and request that they review your claim. If you are not satisfied with the outcome of AgriCorp’s review you can file an appeal with the Agriculture, Food and Rural Affairs Tribunal. Your appeal to the Tribunal must be made within one year of the date you submitted your Proof of Loss form to AgriCorp.

If at Any Point you wish to Cancel Your Coverage  

Simply call AgriCorp at 1-888-247-4999 and a representative will assist you in cancelling your coverage. 

Submissions & Correspondence

OFA letter to Minister Leal supporting regulatory amendments to allow participation of Beef Breeder Co-ops in the Beef Cattle Financial Protection Program
(October 4, 2017)

OFA Pre-budget Submission 2017
(January 20, 2017)

OFA letter requesting Agri-Recovery assistance due to 2016 drought
(December 2, 2016)

OFA letter regarding Agriculture & Agri-Food Canada Next Policy Framework Phase 2 Consultation
(November 30, 2016)

OFA letter regarding the next APF Phase 1 Consultations
(July 29, 2016)


Additional Information

Canada's Next Agricultural Framework
(July 15, 2016)

Key Agriculture Priorities for Federal Politicians
(May 18, 2016)

Farm Business Advisory Services Survey Results
(March 4, 2016)

Information on the Business Risk Management Programs and the Livestock Tax Deferral Program for Ontario farmers affected by drought
(August 10, 2012)

Agri-Recovery Program
(June 11, 2011)


News

Ontario Budget Delivers New Risk Management Program for Ontario Farmers
(March 29, 2011 - Business Risk Management)

A thank you to Ontario farmers
(March 30, 2011 - Business Risk Management)

Coalition Pleased Ontario Budget Preserves Risk Management Program
(March 29, 2012 - Business Risk Management)

Regulations and risk management key OFA member priorities, survey says
(July 4, 2012 - Business Risk Management)

Drought’s damage provides a timely case study for future farm programs
(August 10, 2012 - Business Risk Management)

Farm leaders value dialogue about programs affecting agriculture
(August 3, 2012 - Business Risk Management)

Provincial budget holds promise for Ontario agriculture
(May 3, 2013 - Municipal Government, Rural Economic Development, Health Care, Education, Business Risk Management)

The provincial budget is now an election platform
(May 2, 2014 - Agri-Food Research, Education, Business Risk Management, Property Assessment and Taxation, Local Food, Natural Gas Infrastructure)

Latest OFA member survey shows strong satisfaction
(July 4, 2014 - Energy, Business Risk Management)

Vote for agriculture on October 19
(October 2, 2015 - Rural Economic Development, Agri-Food Research, Energy, Business Risk Management, Natural Gas Infrastructure)

OFA: ready to take on climate change
(October 2, 2014 - Environmental, Business Risk Management, Climate Change)

Federal budget gives nod to agriculture
(April 24, 2015 - Agri-Food Research, Business Risk Management, Natural Gas Infrastructure)

Keeping agriculture at the forefront with MPs
(October 16, 2015 - Business Risk Management)

OFA: Talking about agriculture with federal candidates
(August 7, 2015 - Rural Economic Development, Agri-Food Research, Business Risk Management, Telecommunications, Natural Gas Infrastructure)

OFA takes top member concerns to politicians
(April 2, 2015 - Rural Economic Development, Agri-Food Research, Business Risk Management, Natural Gas Infrastructure)

OFA supports proposed revision of business risk management programs at FPT meeting
(May 12, 2017 - Business Risk Management)

OFA advocacy update at the halfway point of the Liberal mandate
(June 17, 2016 - Water, Land Use Policy & Farmland Preservation, Municipal Government, Rural Economic Development, Farm Property, Environmental, Energy, Waste Management, Wildlife & Wildlife Damage, Business Risk Management, Natural Gas Infrastructure, Climate Change)

OFA takes agri-food issues to the Hill
(April 15, 2016 - Agri-Food Research, Business Risk Management, National Food Strategy®)

OFA offers insights for Federal Provincial Territorial Ag Ministers conference
(June 30, 2016 - Business Risk Management)

What agriculture needs in Ontario’s 2017 budget
(January 20, 2017 - Rural Economic Development, Energy, Business Risk Management, Natural Gas Infrastructure)

Annual Field Day brings MPPs to agriculture
(August 5, 2016 - Business Risk Management, Climate Change)

Ontario farmers face challenging growing season
(August 3, 2017 - Business Risk Management)

Canada’s path to prosperity lies in ag
(February 17, 2017 - Business Risk Management)

Mixed news for Ontario agriculture in new federal investment program
(July 28, 2017 - Business Risk Management)

OFA disappointed provincial budget does not grow agriculture
(April 28, 2017 - Rural Economic Development, Agri-Food Research, Environmental, Energy, Education, Business Risk Management, Transportation, Telecommunications, Income Tax, Property Assessment and Taxation, Drainage, Natural Gas Infrastructure, Provincial Funding Transfers to Municipalities , Climate Change)


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