Late remitting/Failure to remit
We will assess this penalty when:
- you deduct amounts over $500, but do not send them to us,
- you deduct amounts over $500, but send them to us late; or
- you deduct amounts under $500, and knowingly or under circumstances of gross negligence do not send them to us or send them late.
When the due date falls on a Saturday, a Sunday, or a public holiday recognized by the CRA, we consider your payment to be on time if we receive it on the next business day.
The penalty is:
- 3% if the amount is one to three days late;
- 5% if it is four or five days late;
- 7% if it is six or seven days late; and
- 10% if it is more than seven days late, or if no amount is remitted.
- 20% if this is the second or subsequent time you are assessed this penalty in a calendar year, if the failures were made knowingly or under circumstances of gross negligence.
Example
A remittance that was due in January of the current year (for deductions made in December of the previous year)
is considered late when paid with the previous year’s information return (T4, T4A) and this return is filed after
the remittance due date.
Note
We will charge you a fee for any payment that your financial institution refuses to process. If your payment is late, we can also charge you a penalty and interest on any amount you owe.
To find out what your due date is, see Summary of remittance due dates.
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