T4RSP and T4RIF information returns

What's new for T4RSP and T4RIF information return

Budget 2021 announced that the threshold for mandatory electronic filing of income tax information returns for a calendar year would be lowered from 50 to 5 returns, in respect of a particular type of information return.

For the latest information, refer to our webpage on the penalty for failure to file information returns at Late filing information return.

As the legislation for this measure was not finalized at the time the guides and forms were printed, the CRA will publish electronically, if necessary, the revised guides and forms once the applicable legislation has been finalized. Please check the CRA website. If you file your return prior to the revised forms becoming available, you may need to change your return.

Use the T4RSP and T4RIF information returns to report amounts from an RRSP or a RRIF that residents of Canada have to include in or can deduct from their income. Use the T4RSP information return to report amounts residents must include on Schedule 7, RRSP, PRPP and SPP Unused Contributions, Transfers, and HBP or LLP Activities.

To prepare a T4RSP or a T4RIF information return, you must fill out the T4RSP or T4RIF slips and the related summary. A summary alone is not an information return.

Filers must use their account number instead of their filer identification number. For more information, see What is a payroll program account?

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