The refunds held back (unpaid amounts) are to identify any amounts included in the “opening receivable (payable)” that arose from a (re)assessment in a prior year, and the refund (payment) transaction was pending. Situations where this may apply include:
- A refund held back due to an outstanding return not filed, and the CRA is awaiting its filing before releasing the funds.
- An unpaid from the balance owing from a re(assessment) in a prior year was not yet paid.
As the most recent tax year cannot have an assessment/reassessment until the current year, this will never apply to the most recent tax year.