Penalties for Failure to File an Information Return
Our Bookkeeping Support Specialists get asked this same question every time March rolls in…
“What are the penalties for filing a late information return?”
If the due date falls on a Saturday, a Sunday, or a public holiday, your information return is due the following business day. Your return is considered filed on time if it is received or postmarked on or before the due date. A penalty may be in place if your information return is late, and keep in mind that each slip is an information return and the assessed penalty is calculated based on the number of information returns filed late.
Visit the CRA website to see the types of information returns and their corresponding penalty.
If you are having trouble filing your T4’s on time, our Bookkeeping team can help you keep on track! Email us at firstname.lastname@example.org for more information.
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