Penalty for failure to file an information return by the due date

Legislated late-filing penalty

If you fail to file an information return by the due date, we may assess a late-filing penalty. Each slip is an information return and we base the penalty on the number of slips filed late. The penalty is the greater of $100 or a penalty determined as follows:

The following types of information returns are subject to the above penalty structure:

• RRSP, RRSP Contribution Information Return
• T10, Pension Adjustment Reversal (PAR)
• T215, Past Service Pension Adjustment (PSPA) Exempt from Certification
• T3, Statement of Trust Income Allocations and Designations
• T4A-NR, Statement of Fees, Commissions, or Other Amounts Paid to Non-Residents for Services Rendered in Canada
• T4A-RCA, Statement of Distributions from a Retirement Compensation Arrangement (RCA)
• T4PS, Statement of Employees Profit Sharing Plan Allocations and Payments
• T4RIF, Statement of Income from a Registered Retirement Income Fund
• T4RSP, Statement of RRSP Income
• T5007, Statement of Benefits
• T5008, Statement of Securities Transactions
• TFSA, Tax-Free Savings Account

Relieving administrative policy

The CRA has instituted a new administrative policy that applies to certain information returns to ensure that late-filing penalties are charged in a manner that is both fair and reasonable for small businesses. Information returns received on or after January 1, 2012 are subject to the new policy. The penalty is the greater of $100 or a penalty determined as follows: