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IRC Announces Dates For 2018 Distribution Payments
Inuvialuit Regional Corporation (IRC) announced a distribution payment of $536.60 to all enrolled Inuvialuit beneficiaries over the age of 18.
In accordance with the IRC Distribution Policy, each enrolled beneficiary will receive this amount. A total of $2,462,994 will be paid to 4,590 beneficiaries over the age of 18 enrolled in the Inuvialuit Trust. Depending on your current location, and whether or not you applied for direct deposit, could factor into when you receive your payment. Please review the option below that best reflects your current situation for specific details.
Did you sign up for direct deposit?
If you are an enrolled Inuvialuit beneficiary over the age of 18 and have already registered with IRC for direct deposit, your payment will electronically transfer directly into your bank account on May 1.
Apply For Direct Deposit (available for Distribution Payments and Elders Benefits Payments)
Do you reside inside the ISR?
If you are an enrolled Inuvialuit beneficiary over the age of 18 and are currently living inside the ISR, your payment will be received by your community corporation by May 1; please contact them for the exact date in which they plan to distribute them.
Do you reside outside the ISR?
If you are an enrolled Inuvialuit beneficiary over the age of 18 and are currently living outside the ISR, your payment will be mailed on May 1. You should expect to receive it shortly after this date.
Distribution payments are based upon 15 per cent of the Average Comprehensive Income for the preceding 10-year period as determined from IRC’s audited consolidated financial statements, prepared in accordance with the International Financial Reporting Standards.
IRC subsidiaries – Inuvialuit Development Corporation, Inuvialuit Investment Corporation, Inuvialuit Land Corporation, and Inuvialuit Petroleum Corporation – contribute to the distribution. The IRC Distribution Policy ensures that there is sufficient reinvestment of profits to guarantee the preservation and growth of the land claim capital for future generations of Inuvialuit. The establishment of the Inuvialuit Harvesters Assistance Program, the core funding of the Inuvialuit Education Foundation, Inuvialuit Charitable Foundation, and community corporations have all been made possible through such reinvestments.
Please note: IRC will not be replacing any cheques that are lost, stolen, or misplaced until June 1.
For further information, contact: