Income Tax Regulations

• 8402.01 (1) Where the PAR determined in connection with an individual’s termination from a deferred profit sharing plan is greater than nil, each trustee under the plan shall file with the Minister an information return in prescribed form reporting the PAR

  • (a) where the termination occurs in the first, second or third quarter of a calendar year, on or before the day that is 60 days after the last day of the quarter in which the termination occurs, and

  • (b) where the termination occurs in the fourth quarter of a calendar year, before February of the following calendar year,

  and, for this purpose, an information return filed by a trustee under a deferred profit sharing plan is deemed to have been filed by each trustee under the plan.

Deferred Profit Sharing Plan — Employer Reporting

• (2) Where an amount included in an individual’s pension credit in respect of an employer under a deferred profit sharing plan is included in determining a PAR in connection with the individual’s termination from the plan, the employer is deemed to be a trustee under the plan for the purpose of reporting the PAR.

Benefit Provision of a Registered Pension Plan

• (3) Subject to subsection (4), where the PAR determined in connection with an individual’s termination from a benefit provision of a registered pension plan is greater than nil, the administrator of the plan shall file with the Minister an information return in prescribed form reporting the PAR

  • (a) where the termination occurs in the first, second or third quarter of a calendar year, on or before the day that is 60 days after the last day of the quarter in which the termination occurs; and

  • (b) where the termination occurs in the fourth quarter of a calendar year, before February of the following calendar year.

Extended Deadline — PA Transfer Amount

• (4) Where, in determining an individual’s PAR in connection with the individual’s termination from a defined benefit provision of a registered pension plan, it is reasonable for the administrator of the plan to conclude, on the basis of information provided to the administrator by the administrator of another pension plan or by the individual, that the value of D in paragraph 8304.1(5)(a) in respect of the termination may be greater than nil, the administrator shall file with the Minister an information return in prescribed form reporting the PAR, if it is greater than nil, on or before the later of

  • (a) the day on or before which it would otherwise be required to be filed; and

  • (b) the day that is 60 days after the earliest day on which the administrator has all the information required to determine that value.

Pension Adjustment Correction – Employer Reporting

• (4.1) If a pension adjustment correction under subsection 8304.1(16) is determined for an individual in connection with a distribution from a registered pension plan (other than a pension adjustment correction that is nil), the administrator of the plan shall file with the Minister an information return in prescribed form reporting the pension adjustment correction

  • (a) if the distribution occurs in the first, second or third quarter of a calendar year, on or before the day that is 60 days after the last day of the quarter in which the distribution occurs; and

  • (b) if the distribution occurs in the fourth quarter of a calendar year, before February of the following calendar year.

Calendar Year Quarter

• (5) For the purposes of this section,

  • (a) the first quarter of a calendar year is the period beginning on January 1 and ending on March 31 of the calendar year;

  • (b) the second quarter of a calendar year is the period beginning on April 1 and ending on June 30 of the calendar year;

  • (c) the third quarter of a calendar year is the period beginning on July 1 and ending on September 30 of the calendar year; and

  • (d) the fourth quarter of a calendar year is the period beginning on October 1 and ending on December 31 of the calendar year.