Determining a business’ financial situation

For requests to cancel or waive interest or penalties based on an inability to pay or financial hardship, the Canada Revenue Agency (CRA) requires full financial disclosure from a business. 

Note: For a business, financial hardship refers to situations when the continuity of business operations, the employees’ jobs, and the welfare of the community as a whole are jeopardized

It is the business’ responsibility to provide current documentation that supports their financial situation. Documentation could include, but is not limited to, the following:

Submit all documents to support your business’ financial situation with your request for relief. For more information, see Submit your request.

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