Newsletter no. 16–2, Annual Information Return - reminder of filing obligation and late-filing penalties
April 22, 2016
This newsletter is for registered pension plan administrators.
Filing an AIR
Registered pension plan administrators have certain filing obligations, including the requirement to file an annual information return (AIR) with the Canada Revenue Agency, as set out in subsection 8409(1) of the Income Tax Regulations. When a pension plan administrator fails to file the AIR, or does not file it by the deadline, subsection 162(7) of the Income Tax Act imposes a monetary penalty.
We have entered into agreements with other government pension regulators (federal and provincial) in relation to filing an AIR. If your registered pension plan is registered with another government regulator, such as the Office of Superintendent of Financial Institutions or the Financial Services Commission of Ontario, that government regulator will determine the AIR filing deadline for your registered pension plan.
If your registered pension plan is not registered with any other government regulator, then you must file the AIR with us no later than 180 days after the plan’s fiscal year-end.
For further information, see Newsletter 95-4. Note that we do not send reminder notices about an upcoming filing deadline.
What happens if you do not file the AIR, or you do not file it by the deadline?
If you do not file an AIR, or the AIR is not filed on time, subsection 162(7) of the Act sets a penalty that is equal to the greater of i) $100 and ii) $25 multiplied by the number of days late (not exceeding 100 days). The maximum penalty is $2,500, and we apply interest on the amount owed.
What if the government regulator for your registered pension plan extends the filing deadline for your AIR?
Send us proof that you have received an extension to your filing deadline to avoid a late-filing penalty. We will only apply a penalty under subsection 162(7) of the Act if the AIR is not filed by the new filing deadline granted by your government regulator.
How do you appeal a penalty?
If you disagree with a penalty, you may appeal it by submitting Form T400A. You may also request that we cancel or waive penalties and interest if you were prevented from fulfilling your obligations due to extraordinary circumstances. Use Form RC4288 to submit this request to the Taxpayer Relief Program of the Canada Revenue Agency.
How to contact us
If you have questions about this newsletter, contact us at the Registered Plans Directorate.
Our telephone enquiries service is available Monday to Friday from 8:00 a.m. to 5:00 p.m. Eastern time. There is a voice mailbox system to take messages outside of these hours. We will return calls on the next business day.
In the Ottawa area
For service in English: 613-954-0419.
For service in French: 613-954-0930.
Toll-free elsewhere in Canada
For service in English: 1-800-267-3100.
For service in French: 1-800-267-5565.
Write to us
Plan administrators who need guidance on issues related to a plan can write to us at the Registered Plans Directorate, Canada Revenue Agency, Ottawa ON K1A 0L5. Our fax number is 613-952-0199.
We welcome feedback on this newsletter. You can send your comments to RPD.LPRA2@cra-arc.gc.ca.
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