Penalty for accepting a late, amended or revoked election

If the Canada Revenue Agency (CRA) accepts your late, amended, or revoked election request, you are liable to a penalty.

The penalty is the lesser of the following amounts: 

  1. $8,000; or
  2. $100 for each complete month from the election's original due date to the date your request was made in a form satisfactory to the CRA.

The date on which you made the request in a form satisfactory to the CRA is when you have provided the CRA with complete and accurate information for the election under review. Please see Information you must include with your request for details about providing complete and accurate information.

Payment of the penalty amount

Relief from the penalty

In certain circumstances, the CRA may cancel or waive the penalty amount. For more information, please see Cancel or waive penalties or interest.

Note: A request to waive the penalty amount may be submitted with the request to file a late, amended, or revoked election. You do not have to file a separate penalty relief request.

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