BSA Holiday Season Deadlines

Dear Colleagues,

As the 2023 calendar year and tax season is quickly coming to a close, we wish to remind Award Processors of the following information:

Awards with Scheduled Payment dates as of January 1^st, 2024

New awards that have yet to be processed for the upcoming Winter term should be submitted via the Awards Processing Form (APF) by no later than
Tuesday, December 19^th, 2023 at 5 pm. Prior to submitting any new awards, you should verify that students are registered in the award term and where applicable have set-up their direct deposit banking information and mailing address in Minerva.

The Winter Tuition Fee payment due date is January 4^th, 2024 so it is important to take note of the following award payment release schedule:

• The earliest an award payment to Accounts Receivable (student fee accounts) will be released is Tuesday, January 2^nd, 2024.
• The earliest an award payments to Accounts Payable (directly to the student’s bank accounts) will be processed is Tuesday, January 2^nd, 2024. Please note that deposits can take up to 3 business days to process at some banking institutions. NOTE: that January 1^st & 2^nd 2024 are BANK holidays therefore the banking institutions will not process the payments until January 3^rd, 2024 at the earliest. Students should be reminded to plan accordingly and if deemed necessary, apply for a Tuition Fee Deferral via Minerva prior to the Tuition Fee payment deadline if they cannot pay their full fees by the due date. Students will need to ensure that all outstanding Fall fees are paid in full before they can apply for a Winter Fee Deferral.
• Important:
  • Awards intended to pay Winter Fees cannot have a payment date earlier than January 1^st, 2024.
  • T4A tax receipts are issued based on the award payment dates; therefore making an award payment in December to give the recipient money for the holiday break will impact their 2023 T4A.
  • Student eligibility is checked based on the semester associated to the payment dates. If there are exceptional circumstances for an award to be released prior to the start of a semester, please contact Student Funding prior to December 18^th to make arrangements.

Changes that impact T4A Tax receipts

Award payments that have been issued between January 1^st, 2023 and December 20^th, 2023, will be recorded on a student’s 2023 T4A tax receipt. Any adjustments or cancellations on those payments must be requested using the ‘Cancel/Reduce Award Payments form’ on the Student Funding website.

To ensure the T4A tax receipts for students are produced accurately, all cancellations or adjustments to award payments must be submitted no later than Tuesday, December 19^th, 2023 at 5 pm

New awards that have yet to be processed for this calendar/tax year and are intended to be paid on/before December 20^th, 2023 should be entered for disbursement no later than
Tuesday, December 19^th, 2023 at 5 pm. Prior to submitting any new awards, verify that students are registered, have set-up their direct deposit banking information and mailing address, where applicable.

The Award Processing Form will not be accessible from December 19^th @ 5 pm to January 3^rd @ 9 am.

A reminder email will be sent as the date approaches.

If you have further questions, please don’t hesitate to contact student.funding [at] mcgill.ca.

FAA Admin Systems and Support Team
Award Processing Support Services
Scholarships & Student Aid Office