Due dates, penalties and interest
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Due dates, penalties and interest
Due dates
You have to file the return for a contribution year by May 1st of the year in which the contribution year ends. For example, the 2016 contribution return is due by May 1st, 2017. If May 1st is a Saturday or Sunday, or a public holiday, your return is due the next business day.
Penalties and interest
The minimum penalty for late filing the RRSP contribution receipt information return is $100 and the maximum penalty is $7,500. For the complete penalty structure, see Penalty for failure to file an information return by the due date.
Cancel or waive penalties or interest
The CRA administers legislation, commonly called the taxpayer relief provisions, that gives the CRA discretion to cancel or waive penalties or interest when taxpayers are unable to meet their tax obligations due to circumstances beyond their control.
The CRA’s discretion to grant relief is limited to any period that ended within 10 years before the calendar year in which a request is submitted or an income tax return is filed.
The CRA will consider your request only if it relates to a tax year or fiscal period ending in any of the 10 calendar years before the year in which you make your request. For example, your request made in 2017 must relate to a penalty or interest for a tax year or fiscal period ending in 2007 or later.
For more information about the circumstances that may warrant relief from penalties or interest, go to Taxpayer relief provisions. To submit your request for relief, we recommend you use Form RC4288, Request for Taxpayer Relief – Cancel or Waive Penalties or Interest.
Related links
- Date modified:
- 2016-11-09