Penalties for Failure to File an Information Return

If you fail to file an information return by the due date, Canada Revenue Agency may assess a late filing penalty. The penalty is the greater of $100 or:

No. information returns (slips) / Penalty (per day) / Maximum penalty

1 - 50 / $10 / $1,000

51 - 500 / $15 / $1,500

501 - 2,500 / $25 / $2,500

2,501 - 10,000 / $50 / $5,000

10,001 or more / $75 / $7,500

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

Canada Revenue Agency has instituted an administrative policy that applies to certain information returns filed by small businesses. Information returns received on or after January 1, 2012 will be subject to the new policy. The penalty is the greater of $100 or:

No. information returns (slips) / Penalty (per day) / Maximum penalty (100 days)

1 - 5 / N/A / $100 flat penalty

6 - 10 / $5 / $500

11 - 50 / $10 / $1,000

51 - 500 / $15 / $1,500

501 - 2,500 / $25 / $2,500

2,501 - 10,000 / $50 / $5,000

10,001 or more / $75 / $7,500

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

NR4, Statement of Amounts Paid or Credited to Non-Residents of Canada
T4, Statement of Remuneration Paid
T4A, Statement of Pension, Retirement, Annuity, and Other Income
T4E, Statement of Employment Insurance and Other Benefits
T5, Statement of Investment Income
T5018, Statement of Contract Payments

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