Newsletter no. 03-1, Joint Annual Information Return - New Participating Pension Supervisory Authority

June 27, 2003

Further to our Newsletter No. 95-4, New Filing Requirements for the Registered Pension Plan Annual Information Return, and our Newsletter No. 01-2, Joint Annual Information Return - New Participating Pension Supervisory Authorities, the Canada Revenue Agency (CRA) has developed a new joint annual information return with Retraite Québec.

The joint annual information return is part of an ongoing initiative between the CRA and the Canadian Association of Pension Supervisory Authorities to reduce the administrative burden on pension plan administrators and the cost of regulatory programs. The CRA has now developed joint annual information returns with all the provincial pension regulators and with the Office of the Superintendent of Financial Institutions.

In creating the joint annual information return with Retraite Québec, we created a new schedule to include with Quebec's annual information return. The new schedule, called RC154, Schedule of Required Information for the Canada Revenue Agency, is to be filed with Quebec's annual information return. In creating the joint annual information return with Retraite Québec, we created a new schedule to include with Quebec's annual information return. The new schedule, called RC154, Schedule of Required Information for the Canada Revenue Agency, is to be filed with Quebec's annual information return.

The CRA assesses penalties if the RC154 schedule is filed late or not filed. Retraite Québec also assesses its applicable penalties. Therefore, it is important that the RC154 schedule be filed with Quebec's annual information return no later than 180 days following the end of the plan's fiscal year end.

Subsection 8409(2) of the Income Tax Regulations will be amended to reflect the agreement reached with the Province of Quebec concerning the annual information return.

Need more information?

If you need a copy of Quebec's annual information return, or if you have questions concerning the return, contact Retraite Québec at 418-643-8282 or visit their website.

If you have questions concerning the RC154 schedule, contact the Registered Plans Directorate at 613-954-0419

You can get a copy of the RC154 schedule on our website or call 1-800-959-5525.

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