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Income Tax Regulations (C.R.C., c. 945)

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Regulations are current to 2024-02-06 and last amended on 2024-02-02. Previous Versions

PART IIInformation Returns (continued)

Ownership Certificates (continued)

 [Repealed, SOR/2010-93, s. 2]

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/83-866, s. 4
  • SOR/88-165, s. 31(F)
  • SOR/2010-93, s. 2

Distribution of Taxpayers Portions of Returns

  •  (1) A person who is required by section 200, 201, 202, 203, 204, 212, 214 (other than subsection 214(1.1)), 215 (other than subsection 215(2.1)), 217 or 218, subsection 219(2) or 223(2) or section 228, 229, 230, 232, 233 or 234 to make an information return shall forward to each taxpayer to whom the return relates two copies of the portion of the return that relates to that taxpayer.

  • (2) The copies referred to in subsection (1) shall be sent to the taxpayer at his last known address or delivered to him in person, on or before the date the return is required to be filed with the Minister.

  • (3) A person may send a document, as required under subsection (1), in an electronic format if the person has received the express consent of the taxpayer, and in that case, the person shall send a single copy to the taxpayer, on or before the date on which the return referred to in subsection (1) is to be filed with the Minister.

  • (4) In subsection (3), express consent means consent given in writing or in an electronic format.

  • (5) A person may provide a Statement of Remuneration Paid (T4) information return, a Tuition and Enrolment Certificate, a FHSA information return, a Statement of Pension, Retirement, Annuity, and Other Income (T4A) information return or a Statement of Investment Income (T5) information return, as required under subsection (1), as a single document in an electronic format (instead of the two copies required under subsection (1)) to the taxpayer to whom the return relates, on or before the date on which the return is to be filed with the Minister, unless

    • (a) the specified criteria referred to in section 221.01 of the Act are not met;

    • (b) the taxpayer has requested that the information return be provided in paper format; or

    • (c) at the time the return is required to be issued,

      • (i) if the return is a T4, the taxpayer is on extended leave or is no longer an employee of the person, or

      • (ii) the taxpayer cannot reasonably be expected to have access to the information return in electronic format.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/85-160, s. 1
  • SOR/87-512, s. 1
  • SOR/89-519, s. 1
  • SOR/92-455, s. 1
  • SOR/93-527, s. 3
  • SOR/2003-5, s. 4
  • 2009, c. 2, s. 85
  • SOR/2010-93, s. 3
  • 2017, c. 20, s. 31
  • 2018, c. 27, s. 38
  • 2022, c. 19, s. 75
  • 2023, c. 26, s. 99

Tax Deduction Information

 Every person who makes a payment described in section 153 of the Act (including an amount paid that is described in subparagraph 153(1)(a)(ii) of the Act), or who pays or credits, or is deemed by any of Part I, XIII and XIII.2 of the Act to have paid or credited, an amount described in that section, Part XIII or XIII.2 of the Act, shall, on demand by registered letter from the Minister, make an information return in prescribed form containing the information required in the return and shall file the return with the Minister within such reasonable time as is stipulated in the registered letter.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/88-165, s. 31(F)
  • SOR/2011-188, s. 3
  • 2016, c. 7, s. 56

Accrued Bond Interest

  •  (1) Every financial company making a payment in respect of accrued interest by virtue of redemption, assignment or other transfer of a bond, debenture or similar security (other than an income bond, an income debenture or an investment contract in respect of which subsection 201(4) applies) shall make an information return in prescribed form.

  • (2) The return referred to in subsection (1) shall be forwarded to the Minister on or before the 15th day of the month following the month in which the payment referred to in subsection (1) is made.

  • (3) For the purposes of this section, a financial company includes a bank, an investment dealer, a stockbroker, a trust company and an insurance company.

  • (4) The provisions of subsection (1) do not apply to a payment made by one financial company to another financial company.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/88-165, s. 31(F)
  • SOR/91-123, s. 2
  • SOR/94-686, s. 52(F)

Employees Profit Sharing Plans

  •  (1) Every trustee of an employees profit sharing plan shall make an information return in prescribed form.

  • (2) Notwithstanding subsection (1), the return required under this section may be filed by the employer instead of by the trustee.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/88-165, s. 31(F)

Pooled Registered Pension Plans

 An administrator of a PRPP must file with the Minister an information return for each calendar year in prescribed form in respect of the PRPP

  • (a) if an agreement concerning annual information returns has been entered into by the Minister and an authority responsible for the supervision of the PRPP under the Pooled Registered Pension Plans Act or a similar law of a province, on or before the day on which an information return required by that authority is to be filed for the calendar year; and

  • (b) in any other case, on or before May 1 of the following calendar year.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/88-165, s. 31(F)
  • SOR/94-686, s. 79(F)
  • SOR/2010-93, s. 4
  • 2012, c. 31, s. 59

Registered Retirement Savings Plans

  •  (1) Every person who pays any of the following amounts shall make an information return in prescribed form:

    • (a) an amount that is required by subsection 146(8) of the Act to be included in computing the income of a taxpayer for a taxation year;

    • (b) an amount that is an eligible amount, within the meaning of subsection 146.01(1) of the Act; or

    • (c) an amount that is an eligible amount, within the meaning of subsection 146.02(1) of the Act.

  • (1.1) The issuer of a registered retirement savings plan shall make an information return in prescribed form for each calendar year containing the total fair market value of all property held by the plan at the end of the year.

  • (2) If, in a taxation year, subsection 146(7), (9) or (10) of the Act or, in relation to a non-qualified investment, subsection 207.04(1) or (4) of the Act applies in respect of a trust governed by a registered retirement savings plan, the trustee of the plan shall make an information return in prescribed form.

  • (3) Where, in respect of an amended plan referred to in subsection 146(12) of the Act, an amount is required to be included in computing the income of a taxpayer for a taxation year, the issuer of the plan shall make an information return in prescribed form.

  • (4) Where subsection 146(8.8) of the Act deems an amount to be received by an annuitant as a benefit out of or under a registered retirement savings plan and such amount is required by subsection 146(8) of the Act to be included in computing the income of that annuitant for a taxation year, the issuer of the plan shall make an information return in prescribed form.

  • (5) If a payment or transfer of property to which paragraph 146(16)(b) of the Act applies is made from a plan, the issuer of the plan shall make an information return in prescribed form in respect of the payment or transfer.

  • (6) Where an amount may be deducted under subsection 146(8.92) of the Act in computing the income of a deceased annuitant under a registered retirement savings plan, the issuer of the plan shall make an information return in prescribed form in respect of the amount.

  • (7) In this section, annuitant and issuer have the meanings assigned by subsection 146(1) of the Act.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/80-502, s. 3
  • SOR/83-866, s. 5
  • SOR/88-165, s. 31(F)
  • SOR/92-51, s. 3
  • SOR/2001-188, s. 2
  • SOR/2003-5, s. 5
  • SOR/2005-264, s. 1
  • 2009, c. 2, s. 86
  • 2011, c. 24, s. 76
  • 2023, c. 26, s. 100
  •  (1) The issuer of a registered retirement savings plan shall make an information return in prescribed form in respect of the amounts that have been paid by the annuitant, or by the spouse or common-law partner of the annuitant, under the plan in a contribution year

    • (a) as consideration for any contract referred to in paragraph (a) of the definition retirement savings plan in subsection 146(1) of the Act to pay a retirement income; or

    • (b) as a contribution or deposit referred to in paragraph (b) of that definition for the purpose stated in that paragraph.

  • (2) For greater certainty and for the purposes of subsection (1), amounts that have been paid do not include amounts that have been paid or transferred under the plan in accordance with subsection 146(16) of the Act, or those that have been transferred under the plan in accordance with any of subsections 146(21), 146.3(14), 147(19) or 147.3(1), (4) or (5) to (7) of the Act.

  • (3) The return shall be filed with the Minister on or before the 1st day of May of the year in which the contribution year ends and shall be in respect of the contribution year.

  • (4) The following definitions apply in this section.

    contribution year

    contribution year means the period beginning on the 61st day of one year and ending on the 60th day of the following year. (année de contribution)

    issuer

    issuer has the same meaning as in subsection 146(1) of the Act, with any modifications that the circumstances require. (émetteur)

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/2005-123, s. 2

Registered Retirement Income Funds

  •  (1) In this section, annuitant and carrier have the meanings assigned by subsection 146.3(1) of the Act.

  • (2) Every carrier of a registered retirement income fund who pays out of or under it an amount any portion of which is required under subsection 146.3(5) of the Act to be included in computing the income of a taxpayer shall make an information return in prescribed form in respect of the amount.

  • (2.1) Every carrier of a registered retirement income fund shall make an information return in prescribed form for each calendar year containing the total fair market value of all property held by the fund at the end of the year.

  • (3) If subsection 146.3(4), (7) or (10) of the Act or, in relation to a non-qualified investment, subsection 207.04(1) or (4) of the Act applies in respect of any transaction or event with respect to property of a registered retirement income fund, the carrier of the fund shall make an information return in prescribed form in respect of the transaction or event.

  • (4) Where an amount is deemed under subsection 146.3(6) or (12) of the Act to be received by an annuitant out of or under a registered retirement income fund, the carrier of the fund shall make an information return in prescribed form in respect of the amount.

  • (5) If a transfer of an amount to which subsection 146.3(14) of the Act applies is made from a fund, the carrier of the fund shall make an information return in prescribed form in respect of the transfer.

  • (6) Where an amount may be deducted under subsection 146.3(6.3) of the Act in computing the income of a deceased annuitant under a registered retirement income fund, the carrier of the fund shall make an information return in prescribed form in respect of the amount.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/84-948, s. 1
  • SOR/84-967, s. 1
  • SOR/88-165, s. 31(F)
  • SOR/2003-5, s. 6
  • SOR/2005-264, s. 2
  • 2009, c. 2, s. 87
  • 2011, c. 24, s. 77
  • 2023, c. 26, s. 101

Advanced Life Deferred Annuity

  •  (1) In this section, designated entity means

    • (a) an administrator of a registered pension plan;

    • (b) an administrator of a pooled registered pension plan;

    • (c) an issuer of a registered retirement savings plan;

    • (d) a carrier of a registered retirement income fund; and

    • (e) a trustee of a deferred profit sharing plan.

  • (2) A designated entity that transfers an amount to acquire an advanced life deferred annuity for an individual shall make an information return in prescribed form in respect of the year in which the transfer was made.

  • (3) A licensed annuities provider shall make an information return in prescribed form in respect of a year in which

    • (a) a payment is made that is required by section 146.5 of the Act to be included in computing the income of a taxpayer; or

    • (b) a refund described in paragraph (g) of the definition advanced life deferred annuity in subsection 146.5(1) of the Act was received by a taxpayer.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/81-936, s. 3(F)
  • SOR/86-1092, s. 2
  • SOR/94-686, s. 81(F)
  • 2011, c. 24, s. 78
  • 2021, c. 23, s. 83

Dispositon of Interest in Annuities and Life Insurance Policies

  •  (1) In this section,

    disposition

    disposition has the meaning assigned by subsection 148(9) of the Act and includes anything deemed to be a disposition of a life insurance policy under subsection 148(2) of the Act; (disposition)

    insurer

    insurer has the meaning assigned by paragraph 148(10)(a) of the Act; (assureur)

    life insurance policy

    life insurance policy[Repealed, SOR/2011-188, s. 4]

  • (2) Where by reason of a disposition of an interest in a life insurance policy an amount is required, pursuant to paragraph 56(1)(j) of the Act, to be included in computing the income of a taxpayer and the insurer that is the issuer of the policy is a party to, or is notified in writing of, the disposition, the insurer shall make an information return in prescribed form in respect of the amount.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/78-449, s. 4
  • SOR/84-967, s. 2
  • SOR/88-165, s. 31(F)
  • SOR/2003-5, s. 7
  • SOR/2010-93, s. 5(F)
  • SOR/2011-188, s. 4
 

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