AgriInvest

2008 AgriInvest

Starting with the 2008 program year, producers will need to make a deposit to their AgriInvest accounts in order to receive a matching contribution from federal and provincial governments.

Beginning in September, the Administration will start sending 2008 AgriInvest Deposit Notices to producers whose 2008 AgriInvest / AgriStability harmonized forms have been processed. The 2008 AgriInvest Deposit Notice will include information on the amount the producer will have to deposit to receive matching government contributions. Once the producer's deposit is received and processed, the Administration will issue a Deposit Confirmation and Withdrawal Form showing the producer's AgriInvest account balance and providing a form for requesting a withdrawal.

For 2008, Agriculture and Agri-Food Canada (AAFC) is holding AgriInvest accounts, and all deposits and withdrawal requests must be made to AAFC. Officials continue to work with financial institutions toward having them hold AgriInvest accounts in the future.

Producers have 90 days from the date of the Deposit Notice to make a deposit into their AgriInvest account. Producers may make only one deposit per Deposit Notice. Producers are responsible for ensuring the deposit is received by the Administration no later than the deadline date indicated on the Notice. Late deposits will not be accepted.

There is still time to participate in 2008 AgriInvest. The deadline to submit an AgriInvest form is September 30, 2009. Applications postmarked after September 30, 2009 up to and including December 31, 2009 will be subject to a 5% per month reduction in the maximum matchable deposit. Applications postmarked after December 31, 2009 will not be accepted. Applications are available through the AgriInvest website or by calling the administration toll free at 1-866-367-8506.

AgriInvest accounts help producers protect their margin from small declines. AgriInvest replaces the coverage for margin declines of less than 15%, previously covered by the Canadian Agricultural Income Stabilization (CAIS) program.

Each year, producers will make a deposit into an AgriInvest account, and receive a matching contribution from federal and provincial governments.

Producers will have the flexibility to use the funds to cover small margin declines or for risk mitigation and other investments.

AgriInvest is delivered by the federal government in all provinces except Quebec.

In Quebec, AgriInvest is delivered provincially by La Financière agricole.

Growing Forward, a federal-provincial-territorial initiative