ERIC KRAUSE

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CCITC OPERATIONAL HANDBOOK

REGISTERED CHARITY INFORMATION RETURN

T4033A (Canada Revenue Agency Income Tax Form)

When does a registered charity have to file its information return?

Under the Income Tax Act, every registered charity has to file an information return each year. The return must be filed no later than six months after the end of the registered charity's fiscal period. For example, if your fiscal period end is March 31st, your annual information return is due by September 30th.

A charity that does not file its return can lose its registered status. After losing its registered status, a charity can no longer issue tax receipts for donations. Also, the charity will be liable to pay a revocation tax equal to the full value of any remaining assets.

Registered charities that are revoked for failure to file are liable for a $500 penalty.

If a charity's registration is revoked, it can apply for re-registration by submitting a completed Form T2050, Application to Register a Charity Under the Income Tax Act, together with all the documents and information requested on the form. The charity must also pay a $500 penalty and file all missing information returns. Re-registration will only be granted where the organization meets all of the current registration requirements.

Note

If the charity is a corporation, it is not required to file a T2 Corporation Income Tax Return during the period it has charitable status. Should the charity lose its charitable status, it will be required to resume filing the T2 return.

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