Meeting winter deadlines keeps advance in good standingDecember 16, 2016Hub ArticleOne of the most important things a farmer can do to keep their advance in good standing this winter is to meet important program deadlines. These deadlines are straight forward to comply with, but if not met can result in penalties on your advance.Penalties are applied to cash advance accounts when the program rules for reporting and repayment are not met. To avoid such penalties, it’s important to keep up-to-date on what paperwork is due, how repayments should be sent in, and other Advance Payment Program rules.Here are three easy tips to avoid penalties this season and throughout the cash advance Program Year.1. Send in Post-Harvest/Fall Advance Reports, and other paperwork, on timeAll producers with a 2016-17 cash advance must submit their Post-Harvest/Fall Advance Report to CCGA by December 31, 2016. This means it must be received in our office by that date, otherwise the account in question will be placed into default status. As we outlined in a September post, this report is needed to verify that there’s enough grain in the bin or livestock available to secure the advance. You can read more about why deadlines like this one exist.If you have a cash advance and have unharvested grain in the field, read our recent post about unharvested grain and completing your Post-Harvest report or give us a call at 1-866-745-2256.2. Remembering the “30/60” Repayments Rule When thinking about the timing of your cash advance repayments, remember that you are always required to repay as you sell and that your payment must be received by the earlier of: 30 days from the date you receive payment or 60 days from the date of delivery. Keeping the “30/60” Repayment Rule in mind will help you avoid penalty interest charges on your account.3. Knowing when to submit Proof of SaleSubmitting Proof of Sale documentation with repayments is a requirement of the Advance Payments Program. When you ask an Authorized Grain Buyer to remit payment to CCGA on your behalf, the Buyer also submits the proof component.Anytime you submit repayment directly to CCGA, though, you’re responsible for both payment and proof. The first speaks for itself, while the second one can be harder to remember. A good habit that many farmers get into is submitting Proof of Sale with each direct payment. This will save you from possible penalty charges down the line.There is one exception, though.If your cash advance is on field crops, new rules allow you to submit repayment to CCGA without Proof of Sale before January 31, 2017 (for 2016-17 cash advances). After January 31, any time you send a repayment directly to CCGA – whether it’s by cheque or through your financial institution – Proof of Sale documentation is required. Any such repayment sent without the appropriate documentation is subject to interest penalties, so keep that January 31 deadline marked if you make cash repayments.If you have a cash advance on livestock, you must provide Proof of Sale on every repayment made to CCGA. --Avoiding penalties on your cash advance starts with deadlines like the ones above, but we’re always here to answer any questions and respond to concerns you may have. By getting in touch with our helpful customer service representatives at 1-866-745-2256, we can best respond to your individual account needs.