Not-for-Profit Filing Requirements

Published on 4:40 pm by in Taxation

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All corporations in Canada must file a tax or information return with Revenue Canada.

  • Registered Charities must file a Charity Information Return (T3010) within six months of their year end. Failure to file a return could result in deregistration. Registered charities do not have to file a corporate tax return.
  • Not-for-profit organizations that are not registered charities must file a corporate income tax return (T2) within six months of their year end. There is no late filing fee.
  • More importantly, not-for-profit organizations with more than $10,000 in investment income in a year or more than $200,000 in total assets (at the end of the immediately preceding fiscal period) must file a Non-Profit Organization Information Return (T1044(e)). The return must be filed within six months of the year end. Note that failure to file the information return on time will result in a penalty of $25/day to a maximum of $2,500 for each year of failure to file. Given the size of the penalty you should review your financial statements annually to determine whether you are required to file this return.

Annual Provincial Corporate Filing
Currently all incorporated organizations in Ontario, including childcare centres, are required to file an Annual Return and Special Notice to confirm/update their corporate records with the Ontario Ministry of Government Services. For non-for-profit coprporations that are not registered charities, this form is included with your annual T2 corporate inocme tax return. All registered charities will be mailed a form septarately that must be completed and mailed to the Ontario Ministry of Government Services.

For more information visit the the Ontario Ministry of Government Services website at http://www.rev.gov.on.ca/en/bulletins/ct/pdf/4012.pdf.

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