Completing returns for selected listed financial institutions

A selected listed financial institution has unique GST/HST reporting and remitting requirements. The filing methods are different for monthly and quarterly filers than for annual filers.

Unlike most GST/HST registrants, selected listed financial institutions are not required to file their GST/HST returns electronically. At this time, Form GST494, Goods and Services Tax/Harmonized Sales Tax (GST/HST) Final Return for Selected Listed Financial Institutions is available in paper format only so it cannot be filed electronically.

Monthly and quarterly filers

If you are a registrant and a monthly or quarterly filer, you have to file an interim return for each reporting period in your fiscal year to report your interim net tax for GST/HST purposes. Use Form GST34-2, Goods and Services Tax/Harmonized Sales Tax (GST/HST) Return for Registrants, as your interim return, and make an interim net tax payment or claim an interim net tax refund for that period. You have to file your interim GST34-2 return within one month after the end of that period.

If you are a non-registrant, your reporting period is a calendar month. You have to file an interim return for each reporting period in your fiscal year to report your interim net tax for GST/HST purposes. Use Form GST62, Goods and Services Tax/Harmonized Sales Tax (GST/HST) Return (Non-personalized) as your interim return, and make an interim net tax payment or claim an interim net tax refund for that period. You have to file your interim GST62 return within one month after the end of your reporting period.

For instructions on how to complete Form GST34-2 or GST62, see File my GST/HST return and Guide RC4050, GST/HST Information for Selected Listed Financial Institutions.

To reconcile the interim net tax with the actual net tax, you are also required to file final returns for each of your reporting periods by completing Form GST494 and either remit any additional amount owing or claim a refund of any excess amount previously remitted You have to file your GST494 return within six months after your fiscal year end.

Annual filers

If you are an annual filer, you have to complete and file Form GST494 within six months after your fiscal year end.

Date modified:

2014-05-29