Regulation 5800

Subsection 5800(1)

Administrative Policy

14 June 2013 External T.I. 2012-0461301E5 F - Retention of books and records

Reg. 5800(1)(a) doc must be retained 2 years' after dissolution without regard to 6-year period

In response to a general inquiry respecting the inter-relationship between ITA s. 230(4) and Reg. 5800(1), CRA paraphrased s. 230(4), and Regs. 5800(1)(a) and (b), and stated (TaxInterpretations translation):

Therefore, a dissolved corporation must retain for a period of two years following its dissolution the Books and Records which it already was required to retain for a period of 6 years under ITA paragraph 230(4)(b).

Thus, a Book or Record contemplated by Reg. paragraph 5800(1)(a) must be retained until the expiration of two years following the dissolution of a corporation without regard to the retention period of 6 years contemplated in ITA paragraph 230(4)(b). A Book or Record which is not so contemplated must instead be retained until the expiration of 6 years from the end of the taxation year to which it relates, unless it relates to a dissolved corporation, in which case it must be retained for two years from the corporation's dissolution.

Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 230 - Subsection 230(4) relationship between 2-year post dissolution and 6-year hold tests 149

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