Accounting periods

If your business uses accounting periods other than calendar months or quarters, you have to notify us of the periods you have chosen. For example, if your business uses an exact 52-week fiscal period, the date of your fiscal year-end will differ from year to year.

If you do not notify us of your accounting periods, we will assign fiscal months and fiscal quarters based on calendar months and calendar quarters, and you will have to wait until your next fiscal year to have this option again.

As a rule, your accounting periods have to meet the following guidelines:

• Each fiscal month has to be a maximum up to 35 days and, except for the first and the last month in a fiscal quarter, minimum of 28 days.

You can apply to have one fiscal month per quarter that is longer than 35 days.

You can also apply to have fiscal months, other than the first or last month of the quarter, that are shorter than 28 days.

• A fiscal quarter has to be a maximum up to 119 days and, except for the first and last fiscal quarters in the fiscal year, minimum of 84 days.

If your business is using accounting periods other than calendar months or quarters, or if you want to use fiscal months that do not meet the guidelines, complete and send us Form GST71, Notification of Accounting Periods, or send us a written request.

When to file notification
File Form GST71 on or before the first day of the fiscal year to which it relates. If you are a new GST/HST registrant, file Form GST71 on or before the day that is the later of:

• the day you apply to be registered or, if you have to file an application on or before an earlier day, that earlier day; and
• the effective date of your registration.

You have to file a new notification for each fiscal year for which you want to use your accounting periods. If you do not tell us your accounting periods, we will revert your GST/HST return and payment due dates to calendar months or calendar quarters, as appropriate.

Forms and publications

• Guide RC4022, General Information for GST/HST Registrant
• Booklet RC2, The Business Number and Your Canada Revenue Agency Program Accounts
• Form RC1, Request for a Business Number (BN)
• Form RC1A, Business Number (BN) - GST/HST Account Information
• Form GST71, Notification of Accounting Periods

Related topics

• Business Registration Online (BRO)
• Canada Business
• Related provincial and territorial government sites
• Industry Canada