,canada ,cu/oms
            & ,rev5ue ,ag5cy

            ,9=m,n ,circul>
             ,,ic#gg-a;,r#d
       ,def]r$ ,pr(it ,%>+ ,plans
    





































                 ,9dex
                               ,brl page
,9=m,n ,circul> """"""""""""""""""""" #a
  ,au?or;y """""""""""""""""""""""""" #b
  ,"p ;,i3 ,regi/r,n """""""""""""""" #c
    ,pr9cipal ,f1tures ( ,def]r$
      ,pr(it ,%>+ ,plans """""""""""" #c
    ,a3ept.e & ,regi/r,n """""""""""" #d
    ,specim5 ,plans """"""""""""""""" #g
    ,/atutory ,3di;ns = ,regi/r,n """ #i
    ,de"p;tal ,require;ts """""""""" #af
    ,employ] ,3tribu;ns """""""""""" #ah
    ,3tribu;n ,limits """""""""""""" #ai
    ,alloc,ns 6,b5efici>ies """""""" #bd
    ,am5d;ts or ,revi.ns """"""""""" #bf
    ,t]m9,n (a ,,dpsp """""""""""""" #bg
    ,revoc,n ( ,regi/r,n """"""""""" #bh
    ,rules t ,apply 6a ,revok$
      ,plan """""""""""""""""""""""" #ca
  ,"p ,,ii3 ,transf]s """""""""""""" #cb
    ,transf]s on ,2half ( ,non-
      ,resid5ts """""""""""""""""""" #cf
  ,"p ,,iii3 ,report+ ,require;ts
    & ,tax,n (! ,tru/ """""""""""""" #cf
                                      ;i
                 ,9dex
    ,report+ ,pay;ts & ,o!r ,am.ts   #cf
    ,det]m9+ ,9come f a ,,dpsp """"" #ch
    ,tax,n ,ye> ( ,tru/ """""""""""" #dc
    ,tax ,paya# 0a ,tru/ """"""""""" #dc
    ,annual ,returns ( ,tru/ """"""" #ej
    ,qualifi$ & ,non-,qualifi$
      ,9ve/;ts """"""""""""""""""""" #ej
    ,o!r ,public,ns """""""""""""""" #ea
    ,p]sonal ,9=m,n ,banks """"""""" #ec














                                     ;ii
,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

            ,9=m,n ,circul>
    
,subject3 ,def]r$ ,pr(it ,%>+ ,plans
,numb]3 #gg-a;,r#d
,date3 ,decemb] #cj1 #aiib

  ,? circul> c.els & replaces ,9=m,n
,circul> #gg-a;,r#c1 dat$ ,decemb] #ab1
#aihc4 ,? revis$ circul> d1ls only )
def]r$ pr(it %>+ plans4 ,! circul>
9cludes -;ts on *anges 6! ,9come ,tax
,act result+ f p5.n re=m4 ,! circul>
9corporates -;ts =m]ly 9 ,9t]pret,n
,bullet9 ,,it-#ced1 : w 2 c.ell$4
  ,an elec;n 0an employ] "u subsec;n
#add7#aj7 (! ,9come ,tax ,act 6h a c]ta9
type ( >range;t qualify z an employees
pr(it %>+ plan 0 previ\sly fil$ at !
a4ress not$ 9 p>agraph #g 2l4 ,! elec;n
%d n[ 2 fil$ at ! tax,n c5tre s]v+ !
employ]4 ,if y h any "qs 3c]n+ ! fil+ (
                                      #a
               #gg-a;,r#d            a#a
an elec;n1 pl1se call yr local 4trict
(fice4

#a4 ,? circul> expla9s ! provi.ns (!
  ,9come ,tax ,act &! adm9i/rative rules
  t d1l ) regi/]+ def]r$ pr(it %>+ plans
  7,,dpsp's74 ,x al provides g5]al 9=m,n
  on report+ require;ts = ,,dpsp's &
  revok$ plans4 ,y c f9d m 9=m,n 9 !
  public,ns li/$ 9 p>agraph #eh4
#b4 ,! circul> is divid$ 96?ree "ps3
  ,"p :,i3 ,regi/r,n 7p>agraphs #d 6#ch7
  ,"p ,,ii3 ,transf]s 7p>agraphs #ci
    6#db7
  ,"p ,,iii3 ,report+ ,require;ts &
    ,tax,n (! ,tru/ 7p>agraphs #dc 6#eg7
  
                ,au?or;y
    
#c4 ,sec;ns #adg & #aih 6#bjg.b (!
  ,9come ,tax ,act 3ta9 mo/ (! provi.ns
  ab ,,dpsp's4

                                      #b
               #gg-a;,r#d            a#a
ec;n1 pl1se call yr local 4trict (fice4

#a4 ,? circul> expla9s ! provi.ns (!
  ,9come ,tax ,act &! adm9i/rative rules
  t d1l ) regi/]+ def]r$ pr(it %>+ plans
  7,,dpsp's74 ,x al provides g5]al 9=m,n
  on report+ require;ts = ,,dpsp's &
  revok$ plans4 ,y c f9d m 9=m,n 9 !
  public,ns li/$ 9 p>agraph #eh4
#b4 ,! circul> is divid$ 96?ree "ps3
  ,"p :,i3 ,regi/r,n 7p>agraphs #d 6#ch7
  ,"p ,,ii3 ,transf]s 7p>agraphs #ci
    6#db7
  ,"p ,,iii3 ,report+ ,require;ts &
    ,tax,n (! ,tru/ 7p>agraphs #dc 6#eg7
  
                ,au?or;y
    
#c4 ,sec;ns #adg & #aih 6#bjg.b (!
  ,9come ,tax ,act 3ta9 mo/ (! provi.ns
  ab ,,dpsp's4
--------------------------------------#b

                                      #b
           ,"p ;,i3 ,regi/r,n   ^pageimp
    
      ,pr9cipal ,f1tures ( ,def]r$
           ,pr(it ,%>+ ,plans
    
#d4 ,a ,,dpsp 9volves an >range;t ": an
  employ] may %>e ) ei all or a
  designat$ gr\p ( employees (! employ]
  ! pr(its f ! employ]'s busi;s1 or f !
  busi;s (! employ] & "o or m corpor,ns
  ) : ! employ] does n d1l at >m's l5g?4
#e4 ,! am.ts paya# 0! employ] >e norm,y
  calculat$ 0ref];e 6pr(its 7e4g41 #e@3p
  ( pr(its z def9$ 9 ! plan71 b c
  calculat$ on ano!r basis z l;g z !y >e
  pd \ ( pr(its4 ,! pay;ts made 0!
  employ] m/ 2 made 6a tru/ee 9 tru/ =!
  b5efit (! employees or =m] employees
  (! employ]1 z provid$ "u subsec;n
  #adg7#a74
#f4 ,"! m/ 2 a -plete alloc,n 0! tru/ee
  )9 specifi$ "t limits1 ei 3t+5tly or
  absolutely1 (3

                                      #c
                ,"p ;,i        a^pageimp
  7a7 all am.ts rcvd "u ! plan f an
    employ]1 or transf]r$ 6! plan on
    2half (a memb]2 &
  7b7 all 9come rcvd1 capital ga9s made1
    & capital losses su/a9$ 0! tru/4
  
          ,a3ept.e & ,regi/r,n
    
#g4 ,sec;n #aeja (! ,9come ,tax
  ,regul,ns li/s ! docu;ts ne$$ 6apply =
  regi/r,n (a ,,dpsp1 & al sets \ !
  mann] 9 : y %d make ! applic,n4 ,h["e1
  we h design$ ,=m ,t#bbad 6s]ve z ! lr
  o!rwise requir$ f ! tru/ee &! employ]4
  ,=w>d ! applic,n 0regi/]$ mail 6!
  foll[+ a4ress3

  ,regi/]$ ,plans ,divi.n
  ,rev5ue ,canada1 ,tax,n
  ,ottawa1 ,ont>io
  ,k#a;,a #j;,l#h4
  
#h4 ,! foll[+ docu;ts 3/itute a prop]
  applic,n3                           #d
                ,"p ;,i        b^pageimp
  7a7 ,=m ,t#bbad1 ) : ! tru/ee &!
    employ] apply = regi/r,n (! plan z a
    ,,dpsp2
  7b7 if ! employ] is a corpor,n1 a
    c]tifi$ copy (! resolu;n (!
    directors au?oriz+ ! applic,n 6be
    made2 &
  7c7 a copy (! tru/ agree;t & plan text
    7^! c 2 -b9$ 9 "o docu;t7 3/itut+ !
    plan or1 if ! plan 3=ms 6an approv$
    specim5 plan 7subject 6v>ia#s71
    c]tific,n ( ,=m ,t#bbad 0! -pany t
--------------------------------------#c
    secur$ approval (! specim5 plan 6: !
    plan 3=ms 7see #ab & #ad 2l74
#i4 ,:5 a3ept$1 ! e6ective date (
  regi/r,n (! plan w 2 ei ! date ( po/al
  regi/r,n (a prop] applic,n1 or a lat]
  date z reque/$ 9 ! applic,n or
  specifi$ 9 ! plan4 ,norm,y1 we w a3ept
  applic,ns submitt$ 0ord9>y mail if !
  applic,n is o!rwise a3epta#4 ,9 s*
  cases1 h["e1 ! e6ective date (
  regi/r,n w 2 at ! 4cre;n (!         #e
                ,"p ;,i              a#c
  ,de"p;t1 & we _c give assur.e t x w 2
  e>li] ?an ! date we rcv ! applic,n at
  \r ,h1d ,(fice 9 ,ottawa4 ,we _c give
  retroactive regi/r,n (a plan1 reg>d.s
  (! circum/.es4 ,if ! applic,n is
  9complete1 we may re/rict ! e6ective
  date ( regi/r,n 6! date y submit !
  miss+ docu;ts4 ,if ! text (! plan or
  tru/ agree;t has 6be am5d$ 6meet \r
  require;ts1 regi/r,n w norm,y 2
  e6ective on ! date we wd o!rwise h
  a3ept$ ! orig9al -plete submis.n4
#aj4 ,on ! 9itial regi/r,n (a plan t
  p]mits "picip,n 0m ?an "o employ]1 we
  ne$ an applic,n f ea* employ]
  "picipat+ 9 ! plan at ! "t regi/r,n is
  reque/$4 ,once ! plan is regi/]$1
  h["e1 we d n ne$ an applic,n f
  employ]s :o lat] jo9 ! plan4 ,s*
  subsequ5t "picip,n %d 2 prop]ly
  au?oriz$ 0a resolu;n (! directors if !
  employ] is a corpor,n1 m/ 2 p]mitt$ 0!
  t]ms (! plan1 & c 2 e6ective f ! 2g9n+
  (! employ]'s curr5t fiscal p]iod4   #f
                ,"p ;,i              b#c
  ,y m/ notify u at ! a4ress 9 #g abv t
  an a4i;nal employ] is "picipat+ 9 !
  plan4 ,! notific,n m/3
  --quote ! regi/r,n numb] (! plan2
  --/ate ! e6ective date ( "picip,n2 &
  --if ! employ] is a corpor,n1 provide
    a copy (! -pany's resolu;n au?oriz+
    "picip,n4
  
  ,! subsequ5t "picip,n 0an employ] w
  only 2 p]mitt$ if ! ,,dpsp has be5
  am5d$ 6meet ! 3di;ns = regi/r,n 7see
  #ag1 #ah1 & #ai 2l7 t apply on !
  e6ective date ( t employ]'s "picip,n4

            ,specim5 ,plans
    
#aa4 ,a tru/ -pany1 9sur.e -pany1 or
  3sultant :o wants 6simplify ! m>ket+ &
  regi/r,n "u sec;n #adg ( pr(it %>+
  plans c submit = approval 9 pr9ciple a
  package 3si/+ (a plan text & tru/
  agree;t1 z well z
                                      #g
                ,"p ;,i               #d
  a /ate;t ( .limit$ v>ia#s 6be p]mitt$
  )9 s* docu;ts4 ,submis.n %d 2 made 6!
  a4ress %[n 9 #g abv4 ,once approv$1 we
  w assign ! specim5 plan a numb] =
  id5tific,n purposes1 & we w advise !
  applicant ( \r a3ept.e1 ! id5tific,n
  numb]1 &! v>ia#s t we w p]mit4
#ab4 ,:5 a plan 3=ms 6an approv$ specim5
  plan1 y d n ne$ 6submit a plan text or
  tru/ agree;t ) ea* applic,n4 ,!
  applic,n %d m]ely c]tify t x 3=ms 6an
  id5tifi$ specim5 plan1 & %d provide
  details ab p]mitt$ v>ia#s1 if "! >e
  any4
#ac4 ,x is 9t5d$ t "! %d 2 few v>ia#s1
  2c o!rwise ! purpose (! specim5 plan
  is def1t$4 ,examples ( p]missi# v>ia#s
  >e ! ve/+ s*$ule1 adm9i/r,n fee
  s*$ule1 retire;t age1 & designat$
  9ve/;t funds4
#ad4 ,applic,ns =! regi/r,n ( plans 3=m+
  6a specim5 plan %d / 2 submitt$
  9dividu,y1 &! e6ective date ( regi/r,n
  w 2 9 a3ord.e ) #i abv4             #h
                ,"p ;,i              a#d
#ae4 ,if a plan t 3=m$ 6a specim5 plan
  at ! "t ( applic,n is lat] am5d$ s t x
  no l;g] 3=ms1 y %d submit a -plete
  am5d$ text & tru/ agree;t 6! a4ress
  %[n 9 #g abv4
#af4 ,correspond;e 6! ,de"p;t ab an
  approv$ specim5 plan 7b n ab a
  specific regi/]$ plan7 m/ id5tify !
  specim5 plan 0xs assign$ id5tific,n
  numb]4 ,correspond;e1 returns1 or o!r
  submis.ns reg>d+ a regi/]$ plan1 :e!r
  or n x 3=ms 6a specim5 plan1 m/
  id5tify t plan 0xs regi/r,n numb]4

     ,/atutory ,3di;ns = ,regi/r,n
    
#ag4 ,! foll[+ specific /atutory
  require;ts >e numb]$ 6correspond )
  subsec;n #adg7#b73
  7a7 ,! plan m/ provide t all pay;ts
    made "u ! plan 6a tru/ee =! b5efit (
    b5efici>ies 2 allocat$ 0! tru/ee 7in
  
                                      #i
                ,"p ;,i               #e
    ! ye> 9 : !y >e rcvd 0! tru/ee7 6!
    9dividual b5efici>y = :om ! am.ts 7
    s pd4
  7a4#a7 ,! plan m/ /ipulate t no
    3tribu;ns c 2 made 6! plan o!r ?an !
    employ]'s 3tribu;n made ac 6! t]ms
    (! plan =! b5efit (! employ]'s
    employees :o >e b5efici>ies "u !
    plan1 or an am.t transf]r$ 6! plan 9
    a3ord.e ) subsec;n #adg7#ai74
  7b7 ,! plan m/ n p]mit loans 6be made
    6an employee or o!r b5efici>y4
  7c7 ,! plan m/ provide t no "p (! tru/
    funds "u ! plan c 2 9ve/$ 9 notes1
    bonds1 deb5tures1 or simil> oblig,ns
    ( an employ] mak+ pay;ts "u ! plan1
    or (a corpor,n ) : t employ] does n
    d1l at >m's l5g?4
  7d7 ,! plan m/ provide t no "p (! tru/
    funds c 2 9ve/$ 9 %>es (a corpor,n )
    at l1/ #ej@3p ( xs prop]ty 3si/+ (!
    prop]ty describ$ 9 7c7 abv4
  7e7 ,! plan m/ /ipulate t no "r or
    9t]e/ ( an employee :o is a      #aj
                ,"p ;,i              a#e
    b5efici>y "u ! plan is capa#1 ei 9
    :ole or 9 "p1 ( surr5d] or assign;t4
  7f7 ,! plan m/ /ipulate t ea* (!
    tru/ees "u ! plan is a resid5t (
    ,canada4
  7g7 ,! plan m/ provide t1 if a
    corpor,n lic5s$ or o!rwise au?oriz$
    "u ! laws ( ,canada or a prov9ce
    6c>ry on 9 ,canada ! busi;s ( (f]+
    6! public xs s]vices z tru/ee is n a
    tru/ee "u ! plan1 "! m/ 2 at l1/
    ?ree tru/ees :o >e 9dividuals4
  7h7 ,! plan m/ provide t all 9come
    rcvd1 capital ga9s made1 & capital
    losses su/a9$ 0! tru/ 2 allocat$
    6b5efici>ies "u ! plan )9 #ij "ds af
    ! 5d (! tru/ ye>1 un.s !y h be5
    allocat$ 9 previ\s ye>s4
  7i7 ,! plan m/ provide t all am.ts
    allocat$ or reallocat$ 6a b5efici>y
    ve/ irrevocably 9 t b5efici>y3
    7;i7 9 ! case ( an am.t allocat$ or
      reallocat$ 2f #aiia1 n lat] ?an
      five ye>s af ! 5d (! ye> 9 :   #aa
                ,"p ;,i              b#e
      ! am.ts >e s allocat$ or
      reallocat$1 un.s ! b5efici>y has
      c1s$ 2f t "t 6be an employee ( an
      employ] :o has "picipat$ 9 ! plan2
      &
--------------------------------------#f
    7;ii7 9 ! case ( any o!r am.t1 no
      lat] ?an ! lat] ( ei ! "t (
      alloc,n or realloc,n1 or ! "d on :
      ! b5efici>y -pletes a p]iod ( #bd
      3secutive mon?s z a b5efici>y "u !
      plan1 or "u any o!r ,,dpsp = : !
      plan c r1sonably 2 3sid]$ 6h be5
      sub/itut$4
  7i4#a7 ,! plan m/ require t ea* =feit$
    am.t & e>n+s t c 2 r1sonably
    attribut$ 6! =feit$ am.t 2 pd
    6"picipat+ employ]s or 2 reallocat$
    6b5efici>ies on or 2f ! lat] (
    ,decemb] #ca1 #aiia1 & ,decemb] #ca
    (! ye> immly foll[+ ! cal5d> ye> 9 :
    ! am.t is =feit$1 or s* lat] "t !
    ,m9i/] p]mits 9 writ+4
                                     #ab
                ,"p ;,i              a#f
  7j7 ,! plan m/ provide t ! tru/ee 9=m1
    9 writ+1 all new b5efici>ies ( _!
    "rs "u ! plan4
  7k7 ,! plan m/ provide t all am.ts
    ve/$ 9 ea* employee :o is a
    b5efici>y 2come paya# 6! employee
    or1 9 ! ev5t (! employee's d1?1 6a
    b5efici>y designat$ 0! employee or
    6! employee's e/ate1 n lat] ?an #ij
    "ds af ! e>lie/ (3
    7;i7 ! d1? (! employee2
    7;ii7 ! "d on : ! employee c1ses 6be
      employ$ 0a 3tribut+ employ]2
    7;iii7 ! "d on : ! employee 2comes
      #ga ye>s old2 &
    7;iv7 ! t]m9,n or w9d+ up (! plan4
  ,if ! employee elects & if p]mitt$ 0!
  plan1 all or any "p ( am.ts paya# 6!
  employee3
  --c 2 pd 9 equal annual or m frequ5t
    9/al;ts ov] a p]iod ( n m ?an #aj
    ye>s f ! "d on : ! am.t 2comes
    paya#2 or
                                     #ac
                ,"p ;,i              b#f
  --c 2 us$ 6pur*ase an annu;y f a p]son
    lic5s$ or o!rwise au?oriz$ "u ! laws
    ( ,canada or a prov9ce 6c>ry on 9
    ,canada an annuities busi;s4
  
  ,if an annu;y is pur*as$1 x m/ 2g9 on
  or 2f ! sev5ty-f/ bir?"d &1 if x has a
  gu>ante$ t]m1 s* a t]m m/ n 2 m ?an
  #ae ye>s4 7,a ,,dpsp may p]mit memb]s
  6)draw all or a por;n ( _! ve/$ 9t]e/
  9 ! plan :ile 3t9u+ 9 employ;t47
--------------------------------------#g
  7k4#a7 ,if ! plan is regi/]$ af ,m>*
    #aihc1 ! plan m/ require t no b5efit
    or loan1 o!r ?an3
    7;i7 a b5efit ! am.t ( : has 6be
      9clud$ :5 calculat+ ! b5efici>y's
      9come2
    7;ii7 an am.t ref]r$ 6in p>agraph
      #adg7#aj77a7 or 7b72
    7;iii7 a b5efit deriv$ f an alloc,n
      or realloc,n ref]r$ 6in subsec;n
      #adg7#b72 or
                                     #ad
                ,"p ;,i              a#g
    7;iv7 ! b5efit deriv$ f ! provi.n (
      adm9i/rative or 9ve/;t s]vices =!
      plan2
  t is 3di;nal 9 any way on ! exi/;e (!
  plan1 c 2 ext5d$ 6a b5efici>y or 6a
  p]son ) :om ! b5efici>y 0 n d1l+ at
  >m's l5g?4
  7k4#b7 ,if ! plan is regi/]$ af ,m>*
    #aihc1 ! plan m/ provide t no
    9dividual c 2come a b5efici>y "u !
    plan :o is3
    7;i7 a p]son relat$ 6! employ]2
    7;ii7 a p]son :o is1 or is relat$
      to1 a specifi$ %>ehold] (! employ]
      or (a corpor,n relat$ 6! employ]2
    7;iii7 if ! employ] is a "pn]%ip1 a
      p]son relat$ 6a memb] (! "pn]%ip2
      or
    7;iv7 if ! employ] is a tru/1 a
      p]son :o is1 or is relat$ to1 a
      b5efici>y "u ! tru/4
  7l7 ,! plan m/ -ply )! ,9come ,tax
    ,regul,ns4
                                     #ae
                ,"p ;,i              b#g
,note3
  ,,dpsp's regi/]$ 2f ,janu>y #a1 #aiia1
  >e subject 6revoc,n if !y >e n am5d$
  6-ply ) 7a4#a71 7i71 & 7i4#a7 abv )
  e6ect f ,janu>y #a1 #aiia4

#ah4 ,plans regi/]$ af #aiij m/ 9clude
  t]ms t >e adequate 65sure ! 3tribu;n
  limits \tl9$ 9 subsec;n #adg7#e.a7 w 2
  satisfi$ = ea* cal5d> ye> 7see #be &
  #bf 2l74 ,,dpsp's regi/]$ 2f #aiia >e
  subject 6! limits 9 subsec;n
  #adg7#e.a7 & 2come revoca# if ! limits
  >e violat$ af #aiij 7see #cg7g7 2l74
  ,we expect all plans regi/]$ 2f #aiia
  6be am5d$ s t !y c 2 op]at$ 9 -pli.e )
  subsec;n #adg7#e.a74
--------------------------------------#h
         ,de"p;tal ,require;ts
    
#ai4 ,a plan m/ al meet ! foll[+
  adm9i/rative rules3
  7a7 ,= non-public corporate employ]s1
    at l1/ "o (! tru/ees m/ 2        #af
                ,"p ;,i              a#h
    9dep5d5t (! op],ns (! -pany1 & m/ n
    2 a %>ehold]4
  7b7 ,! plan m/ n provide = dive/+ 2c (
    4missal = cause or union memb]%ip4
  7c7 ,! tru/ee7s7 m/ h su6ici5t au?or;y
    65sure t ! plan is imple;t$ & op]at$
    & t ! pay;t ( b5efits 6! b5efici>ies
    is made4
  7d7 ,if ! plan or tru/ agree;t emp[]s
    ! tru/ees 6borr[ monies ag/ ! assets
    (! tru/1 s* borr[+ m/ 2 only
    6facilitate ! pay;ts ( b5efits "u !
    plan )\t =c+ a 4tress sale ( l;g-t]m
    9ve/;ts4 ,! borr[+ m/ al 2 on a
    %ort-t]m basis 7see #ea7d7 2l74
  7e7 ,! plan m/ provide t employee
    3tribu;ns made 2f #aiia & am.ts
    transf]r$ 6! plan on 2half (!
    b5efici>y f ano!r ,,dpsp >e fully
    ve/$ 9 ! b5efici>y4 ,! ,act does n
    all[ employee 3tribu;ns1 o!r ?an a
    direct transf] f ano!r ,,dpsp1 af
    #aiij4
                                     #ag
          ,employ] ,3tribu;ns        b#h
    
#bj4 ,e6ective af #aiij1 a plan c p]mit
  3tribu;ns 6be made at ! employ]'s
  4cre;n1 or 6be 3t+5t on a prerequisite
  s* z employee p]=m.e1 )\t requir+ !
  employ] 6make a m9imum 3tribu;n4 ,!
  text m/ cle>ly provide1 h["e1 t
  3tribu;ns w 2 subject 6! maximum
  3tribu;n limits not$ 9 #bf 2l4
#ba4 ,3tribu;ns c 2 made 80ref];e
  6pr(its0 or 8\ ( pr(its40 ,if 80ref];e
  6pr(its10 ! 3tribu;n is express$ z a
  p]c5tage ( pr(its =! ye>4 ,if 8\ (
  pr(its10 ! 3tribu;n c 2 express$ 9
  v>i\s ways1 & pr(its c 2 def9$ ei z
  pr(its (! ye> or z undistribut$ pr(its
  (! ye> & previ\s ye>s4
#bb4 ,an employ] ^: 3tribu;ns >e det]m9$
  0ref]r+ 6pr(its c base s* 3tribu;ns on
  xs [n pr(its =! ye> or on ! -b9$
  pr(its =! ye> ( x & corpor,ns ) : x
  does n d1l at >m's l5g?4 ,an employ]1
  h["e1 c only 3tribute 6a plan on 2half
  ( xs [n employees4                 #ah
                ,"p ;,i               #i
#bc4 ,:5 an employ] does n make any
  3tribu;ns 6a ,,dpsp 9 a cal5d> ye>1 !
  o!r provi.ns (! plan m/ 3t9ue 6op]ate1
  &! tru/ee m/ 3t9ue ! adm9i/rative
  duties =! plan4
#bd4 ,no deduc;n c 2 made 9 calculat+ !
  9come ( an employ] =a tax,n ye> =a
  3tribu;n 6a ,,dpsp =a b5efici>y :o is
  describ$ 9 #ag7k4#b7 abv 7see al #df
  2l74

           ,3tribu;n ,limits
    
#be4 ,3tribu;ns 6a ,,dpsp on 2half (a
  b5efici>y & =feit$ am.ts t h be5
  reallocat$ 6a b5efici>y >e 9clud$ 9 !
  b5efici>y's p5.n cr$it =a ye>4 ,a
  =feit$ am.t is an am.t 6: a b5efici>y
  "u ! plan has c1s$ 6h any "rs1 o!r ?an
  ! por;n ( t am.t t is paya# 6ano!r
  p]son 2c (! b5efici>y's d1?4 ,!
  ,employ]s' ,p5.n ,adju/;t ,calcul,n
  ,guide1 availa# at ! 4trict (fice1
  provides details on h[             #ai
                ,"p ;,i              a#i
  6calculate p5.n cr$its &! p5.n
  adju/;t4
#bf4 ,! plan m/ 9clude t]ms t 5sure !
  foll[+ limits w 2 satisfi$ = ea*
  cal5d> ye> 7see al ! notes 2l73
  7a7 ! total (a b5efici>y's p5.n cr$its
    =! ye> reg>d+ an employ] "u ,,dpsp's
    _c 2 m ?an "o (! foll[+ am.ts1 :i*"e
    is less3
    7;i7 "o-half (! m"oy pur*ase limit
      =! ye>2 &
    7;ii7 #ah@3p (! b5efici>y's -p5s,n
      =! ye> f ! employ]2
  7b7 ! total p5.n cr$its (a b5efici>y
    "u ,,dpsp's =a ye> reg>d+ an employ]
    & reg>d+ any o!r non->m's l5g?
    employ]s _c 2 m ?an "o-half (! m"oy
    pur*ase limit =! ye>2 &
  7c7 ! total (! b5efici>y's p5.n
    adju/;ts =! ye> reg>d+ an employ] &
    reg>d+ any o!r non->m's l5g?
    employ]s _c 2 m ?an "o (! foll[+
    am.ts1 :i*"e is less3
                                     #bj
                ,"p ;,i              b#i
    7;i7 ! m"oy pur*ase limit =! ye>2 &
    7;ii7 #ah@3p (! b5efici>y's total
      -p5s,n =! ye> f ! employ]s4
-------------------------------------#aj
,notes3
  7,a7 ,ref] 6! curr5t v].n (!
    ,employ]s' ,p5.n ,adju/;t ,calcul,n
    ,guide =! m"oy pur*ase limit4
  7,b7 ,=! purposes (! abv limits1
    -p5s,n 9cludes total sal>y1 wages1 &
    o!r am.ts f ! b5efici>y's employ;t
    )! employ] t h 6be 9clud$ 9
    calculat+ ! b5efici>y's 9come =!
    ye>4 ,9 7c7 abv1 b n 9 7a71 -p5s,n
    9cludes am.ts prescrib$ 0,regul,n
    #hejg = p]iods :5 a b5efici>y's
    remun],n is less ?an normal 2c (
    p]iods ( 4abil;y1 l1ves ( abs;e1 or
    simil> causes4 ,if ! b5efici>y is n
    a resid5t ( ,canada =a p]iod 9 !
    ye>1 -p5s,n 9 7a7 & 7c7 abv does n
    9clude remun],n = t p]iod t does n
    relate 6duties p]=m$ 9 ,canada or t
    is exempt f tax 9 ,canada "u a   #ba
                ,"p ;,i             a#aj
    tax tr1ty ) ano!r c.try1 except 6!
    ext5t t is a3epta# 6! ,m9i/]4
  7,c7 ,9 ! ye> a b5efici>y t]m9ates
    employ;t1 -p5s,n c 2 bas$ on !
    b5efici>y's -p5s,n =! ye> ( t]m9,n1
    or on ! b5efici>y's -p5s,n =! immly
    prec$+ ye>1 if x is m4
  7,d7 ,a =feit$ am.t t is reallocat$ &
    pd \ 6! b5efici>y 9 ! ye> (
    realloc,n does n h 6be 9clud$ 9 !
    calcul,n (! b5efici>y's p5.n cr$it4
    ,an am.t t is transf]r$ 6ano!r
    ,,dpsp1 regi/]$ p5.n plan 7,,rpp71
    or regi/]$ retire;t sav+s plan
    7,,rrsp7 is n 3sid]$ 6h be5 pd \4
  7,e7 ,a b5efici>y's p5.n cr$it "u a
    ,,dpsp is nil =! ye> ! b5efici>y
    t]m9ates employ;t1 if ! b5efici>y
    loses all 5title;t 6b5efits "u !
    ,,dpsp 2c ( t]m9at+ employ;t1 & if
    no am.ts o!r ?an a repay;t (!
    b5efici>y's 3tribu;ns plus
  
                                     #bb
                ,"p ;,i              #aa
    e>n+s h or w 2 pd 6! b5efici>y f !
    ,,dpsp4
  7,f7 ,=! purposes ( calculat+ a
    b5efici>y's p5.n cr$it "u a ,,dpsp1
    3tribu;ns made 9 ! f/ two mon?s (!
    cal5d> ye> b apply+ 6! previ\s ye> w
    2 3sid]$ z hav+ be5 made 9 ! previ\s
    ye>4
  
#bg4 ,! employ] m/ det]m9e :e!r a ,,dpsp
  3tribu;n or realloc,n (a =feit$ am.t w
  cause ! limits 9 subsec;n #adg7#e.a7
  6be exce$$ 2f mak+ ! 3tribu;n or
  realloc,n4 ,"picul> cau;n m/ 2 ex]cis$
  )! tim+ ( 3tribu;ns1 & if m ?an "o
  plan exi/s or m ?an "o relat$ employ]
  is 3tribut+ on 2half (! same
  9dividual4
#bh4 ,if ! limits >e n respect$ =a
  cal5d> ye>1 regi/r,n (! ,,dpsp is
  revoca#4 ,! employ] is d5i$ a deduc;n
  = 3tribu;ns made 9 ! ye>1 except z
  expressly p]mitt$ 9 writ+ 0! ,m9i/]4
  ,am.ts )drawn f ! plan 0!          #bc
                ,"p ;,i             a#aa
  employ] d n reduce ! am.t (! orig9al
  3tribu;n & >e appropri,ns : m/ 2
  9clud$ 9 ! employ]'s 9come 7see #de
  2l74

        ,alloc,ns 6,b5efici>ies
    
#bi4 ,capital ga9s made & capital losses
  su/a9$ m/ 2 allocat$ 6b5efici>ies "u !
  ,,dpsp on or 2f ! "d t is #ij "ds af !
  5d (! ye> 9 : !y 7 made or su/a9$1 z
  9dicat$ 9 #ag7h7 abv4 ,! plan c
  provide =! alloc,n ( unr1liz$ ga9s &
  losses1 z l;g z ? basis is us$
  3si/5tly f ye> 6ye>4
#cj4 ,all capital losses su/a9$ 7or
  a3ru$7 m/ 2 allocat$ 6b5efici>ies "u !
  plan1 reg>d.s ( :e!r or n s* losses >e
  m ?an ! capital ga9s r1liz$ 7or a3ru$7
  9 t "picul> ye>4 ,^! capital losses >e
  n deducti# 0! b5efici>y4 ,!y may1
  h["e1 ultimately reduce ! taxa# am.t
  rcvd 0! b5efici>y f ! ,,dpsp4
                                     #bd
                ,"p ;,i             b#aa
#ca4 ,a ,,dpsp c provide = di6]5t me?ods
  ( allocat+ di6]5t s\rces ( 9come4 ,=
  example1 ! plan c provide t 9ve/;t
  9come is 6be allocat$ 6b5efici>ies
  bas$ on ! bal.es 9 _! a3.ts at ! 2g9n+
  (! ye>1 ":as proce$s (a life 9sur.e
  policy on a memb] >e 6be allocat$
  solely 6! dec1s$ m>ket memb]'s
-------------------------------------#ab
  a3.t4 ,if ! plan is sil5t ab ! me?od (
  alloc,n (! v>i\s s\rces ( 9come1 we d
  n object 6an alloc,n ( ea* s\rce on
  any r1sona# basis4
#cb4 ,am.ts allocat$ or reallocat$ 6a
  b5efici>y t rema9 n ve/$ at ! "t !
  b5efici>y c1ses 6be employ$ c1 dep5d+
  on ! provi.ns (! plan1 2 pd \ 6!
  b5efici>y or 2 =feit$ 0! b5efici>y4 ,9
  a4i;n1 ! plan c provide = ve/+ ( am.ts
  allocat$ or reallocat$ 6a b5efici>y ei
  at ! "t ! b5efici>y c1ses 6be employ$1
  or at any "t af ! b5efici>y c1ses
  employ;t1 subject 6! ve/+ s*$ule 9
  #ag7;i7 abv4 ,am.ts : ve/ af !     #be
                ,"p ;,i             a#ab
  b5efici>y c1ses employ;t >e n subject
  6! require;t describ$ 9 #ag7k7 abv4
#cc4 ,if a non-ve/$ am.t is pd 6!
  b5efici>y or if ve/+ 3t9ues af
  employ;t c1ses1 ! b5efici>y w n 2
  3sid]$ 6h lo/ all 5title;t 6b5efits
  7i4e41 ,note ;,e 6p>agraph #bf abv
  does n apply74 ,"!=e1 any 3tribu;n or
  realloc,n made on 2half (! b5efici>y 9
  ! ye> ( t]m9,n ( employ;t m/ 2 9clud$
  9 ! b5efici>y's ,,dpsp p5.n cr$it = t
  ye>4 ,3tribu;ns & realloc,ns ( =feit$
  am.ts1 h["e1 _c 3t9ue on 2half (a
  b5efici>y af ! cal5d> ye> 9 : !
  b5efici>y's employ;t c1ses 7except =
  3tribu;ns made 9 ! f/ two mon?s (!
  foll[+ cal5d> ye> t relate 6! ye> (
  t]m9,n74

          ,am5d;ts or ,revi.ns
    
#cd4 ,all am5d;ts or revi.ns 6! ,,dpsp1
  tgr )a copy (! au?oriz+ resolu;n or
  by-law1 if any1 & advice ( any     #bf
                ,"p ;,i             b#ab
  *ange 9 ! corporate id5t;y ( any
  employ] "picipat+ 9 ! plan or any
  *ange ( tru/ees1 %d 2 submitt$
  promptly 6,rev5ue ,canada1 ,tax,n at !
  a4ress not$ 9 #g abv4 ,! submis.n %d
  id5tify ! nature (! *anges4 ,fail+
  6submit am5d;ts may prejudice !
  regi/]$ /atus (! plan4
#ce4 ,a ,,dpsp t is am5d$ or revis$
  reta9s xs regi/]$ /atus un.s advice (
  revoc,n ( regi/r,n is giv5 6a tru/ee
  "u ! plan & 6! "picipat+ employ]4 ,s*
  revoc,n may 2 retroactive if ! am5d;ts
  >e n 9 a3ord.e )! law or de"p;tal
  require;ts4
-------------------------------------#ac
           ,t]m9,n (a ,,dpsp
    
#cf4 ,if an employ] t]m9ates a ,,dpsp or
  t]m9ates "picip,n 9 s* a plan1 !
  foll[+ 9=m,n %d 2 submitt$ 6,rev5ue
  ,canada1 ,tax,n af all funds h be5
  4tribut$3
                                     #bg
                ,"p ;,i             a#ac
  7a7 if ! employ] is a corpor,n1 a copy
    (! bo>d resolu;n t]m9at+ ! plan or
    "picip,n 9 x2
  7b7 ! e6ective date ( t]m9,n1 if x is
    n 9clud$ 9 ! resolu;n2 &
  7c7 a /ate;t f ! tru/ees sett+ \ !
    date & mann] ! assets (! fund 7
    4tribut$4
  
,note3
  ,all ! am.ts ve/$ 9 an employee 2come
  paya# 6! employee n lat] ?an #ij "ds
  af ! plan t]m9ates or w9ds up4

  ,? 9=m,n is 6be s5t 6! a4ress not$ 9
  #g abv1 & is 9 a4i;n 6! f9al return t
  has 6be fil$ 0! ,,dpsp tru/ee :5 !
  tru/ c1ses 6exi/ 7see #ee 2l74

          ,revoc,n ( ,regi/r,n
    
#cg4 ,! ,m9i/] c revoke a ,,dpsp's
  regi/r,n if ! foll[+ situ,ns >ise3
                                     #bh
                ,"p ;,i             b#ac
  7a7 ! plan has be5 revis$ or am5d$ 9
    s* a way t1 foll[+ ! revi.ns or
    am5d;ts1 ! plan no l;g] -plies )!
    regi/r,n require;ts =a ,,dpsp2
  7b7 any provi.n (! plan has n be5
    -pli$ )2
  7c7 if on any "d af ,june #cj1 #aihb1
    a b5efit or loan is ext5d$ or 3t9ues
    6be ext5d$ 2c (! exi/;e (a def]r$
    pr(it %>+ plan1 & t b5efit or loan
    wd 2 prohibit$ if ! plan met !
    require;t = regi/r,n 3ta9$ 9
    #ag7k4#a7 abv2
  7d7 an am.t is transf]r$ f ! plan
    6ano!r regi/]$ plan1 &! transf] is n
    9 a3ord.e ) #dj or #da 2l2
  7e7 ! plan does n -ply )! 3di;ns =
    regi/r,n \tl9$ abv 9 #ag7a7 to 7k7 &
    7l72
  7f7 if ! plan 0 regi/]$ af ,m>* #aihc1
    ! plan does n -ply )! require;ts (
    #ag7k4#a7 & 7k4#b7 abv2
  7g7 ! limits describ$ 9 #bf abv >e n
    satisfi$ =a cal5d> ye>2 or       #bi
                ,"p ;,i             c#ac
  7h7 an employ] :o "picipates 9 ! plan
    fail$ 6file an 9=m,n return1 z & :5
    requir$1 report+ ! p5.n adju/;t (a
    plan memb]4
  
  ,if ! ,m9i/] revokes ! regi/r,n (a
  ,,dpsp1 ! revoc,n w 2 e6ective z
  foll[s3
-------------------------------------#ad
    --if 7e7 or 7f7 abv apply1 n 2f
      ,janu>y #a1 #aiia2
    --if 7g7 abv applies1 at ! 5d (! ye>
      = : ! require;ts >e n satisfi$2
    --if 7h7 abv applies1 any date af !
      9=m,n return _h 6be fil$2 &
    --in all o!r cases1 ! date (!
      9frac;n4
  ,9 any case1 ! ,m9i/] may revoke !
  regi/r,n on any lat] date4 ,notice (
  revoc,n &! e6ective date w 2 giv5
  0regi/]$ mail 6! tru/ee (! plan & 6an
  employ] ( employees :o >e b5efici>ies
  "u ! plan4
                                     #cj
       ,rules t ,apply 6a ,revok$   a#ad
                 ,plan
    
#ch4 ,! foll[+ special rules apply 6a
  revok$ plan3
  7a7 ! revok$ plan is 3sid]$ n 6be a
    ,,dpsp1 an employee pr(it %>+ plan1
    or a retire;t -p5s,n >range;t2
  7b7 ! revok$ plan _c 2 a3ept$ =
    regi/r,n "u ! ,act until at l1/ "o
    ye> af ! e6ective date ( revoc,n2
  7c7 ! tru/ is taxa# on xs taxa# 9come
    =a tax,n ye> if ! plan 0 a revok$
    plan = any "p ( t ye>2 7d7 ! employ]
    _c deduct pay;ts made 6a tru/ee "u !
    plan at a "t :5 ! plan is a revok$
    plan2
  7e7 any am.t rcvd 0a b5efici>y "u !
    plan w 2 9clud$ 9 ! b5efici>y's
    9come z if ! plan _h be5 a def]r$
    pr(it %>+ plan2
  7f7 ! value ( any funds or prop]ty
    appropriat$ 6or =! b5efit (a taxpay]
    :o is an employ] mak+ pay;ts 6!
    plan1 or a corpor,n ) : s* an    #ca
                ,"p ;,i             b#ad
    employ] does n d1l at >m's l5g?1 o!r
    ?an pay;ts =1 or on a3.t (1 %>es (!
    capital /ock (! taxpay] pur*as$ 0!
    plan tru/1 w 2 9come (! taxpay] 9 !
    ye> ( appropri,n 7appropri,ns t >e
    repd )9 a ye> f ! 5d (! ye> 9 : !
    appropri,n 0 made & t >e n "p (a
    s]ies ( appropri,ns & repay;ts d n h
    6be 9clud$ 9 9come72 &
  7g7 if prop]ty (a revok$ plan is 4pos$
    ( to1 or is acquir$ f1 a taxpay] =a
    3sid],n o!r ?an ! fair m>ket value
    (! prop]ty at ! "t (! transac;n1 !
    di6];e 2t ! 3sid],n &! fair
-------------------------------------#ae
    m>ket value w 2 taxa#1 z provid$ 9
    #dh 2l4
  
          ,"p ,,ii3 ,transf]s
    
#ci4 ,regi/r,n (a ,,dpsp is revoca# if1
  af #aihh1 an am.t is transf]r$ f !
  plan 6an ,,rpp1 an ,,rrsp1 or ano!r
  ,,dpsp un.s ! transf] is 9         #cb
                ,"p ,,ii            a#ae
  a3ord.e ) subsec;n #adg7#ai7 7see #dj
  2l7 or a deduc;n is availa# "u
  p>agraph #fj7j7 or 7j4#b7 6! 9dividual
  on ^: 2half ! transf] is made 7see #da
  2l74 ,specific transf] provi.ns d n
  ne$ 6be 9clud$ 9 ! ,,dpsp 9 ord]
  6satisfy regi/r,n require;ts4 ,am.ts c
  2 transf]r$ 96or f a ,,dpsp if ! ,act
  p]mits ! transf] & z l;g z ! t]ms (!
  ,,dpsp d n prev5t ! transf]4
#dj4 ,an am.t c 2 transf]r$ f a ,,dpsp
  6ano!r regi/]$ plan if ! am.t is3
  --a lump-sum am.t & n "p (a s]ies (
    p]iodic pay;ts2
  --made on 2half ( an 9dividual employ$
    or =m]ly employ$ 0an employ] :o
    "picipat$ 9 ! ,,dpsp on 2half (!
    9dividual1 or ! 9dividual's sp\se :o
    is 5titl$ 6b5efits z a result (!
    9dividual's d1? 78sp\se0 = ? purpose
    9cludes a -mon-law sp\se z def9$ 9
    subsec;n #adf7#a.a772
  
                                     #cc
                ,"p ,,ii            b#ae
  --in full or "pial satisfac;n (!
    9dividual's 5title;t 6b5efits "u !
    plan2
  --an am.t t wd h be5 taxa# if x 0 pd
    directly 6! 9dividual2 &
  --transf]r$ directly 6an ,,rpp =!
    9dividual's b5efit1 6an ,,rrsp "u :
    ! 9dividual is ! annuitant1 or
    6ano!r ,,dpsp1 z l;g z ! o!r ,,dpsp
    c r1sonably 2 expect$ 6h at l1/ five
    7#e7 b5efici>ies "?\t ! cal5d> ye> 9
    : ! transf] is made4
  
,note3
  ,3tribu;ns made 0a b5efici>y _c 2
  transf]r$4 ,h["e1 ! e>n+s t >e
  attributa# 6b5efici>y 3tribu;ns d
  qualify =a direct transf]4

  ,y c use ,=m ,t#baea1 ,record (
  ,direct ,transf] (a 8,s+le ,am.t0
  7subsec;n #adg7#ai7 or sec;n #adg.c71
  6record ! transf]4 ,an am.t t is
  transf]r$ "u subsec;n #adg7#ai7    #cd
                ,"p ,,ii            c#ae
  is n 6be 9clud$ 9 ! 9come (! p]son on
  ^: 2half ! transf] 0 made4 ,al1 t
  p]son _c deduct ! am.t transf]r$4
-------------------------------------#af
#da4 ,an am.t c al 2 transf]r$ f a
  ,,dpsp 6ano!r regi/]$ plan if ! am.t
  is 9clud$ 9 ! b5efici>y's 9come & is
  deducti# 0! b5efici>y on ^: 2half !
  am.t is transf]r$ "u p>agraph #fj7j7
  or 7j4#b74
  --,deduc;ns "u p>agraph #fj7j7 af
    #aihi >e limit$ 6,,dpsp b5efits t
    fl[ "? a te/a;t>y tru/1 or a
    4tribu;n ( %>es f a ,,dpsp = : !
    b5efici>y has elect$ "u subsec;n
    #adg7#aj.a74
  --,p>agraph #fj7j4#b7 p]mits a maximum
    deduc;n ( 4#f1jjj a ye> f #aihi
    6#aiid = p]iodic ,,dpsp pay;ts t >e
    transf]r$ 6a sp\sal ,,rrsp4
  
  ,y w f9d m 9=m,n on transf]s f
  ,,dpsp's 9 ! ,p5.n & ,,rrsp ,tax
  ,guide4                            #ce
         ,transf]s on ,2half (      a#af
             ,non-,resid5ts
    
#db4 ,,dpsp funds c 2 transf]r$ on 2half
  (a non-resid5t p]son 6an ,,rpp or an
  ,,rrsp 9 a3ord.e ) #dj abv1 or 6a
  sp\sal ,,rrsp ": ! am.t wd 2 deducti#
  "u p>agraph #fj7j4#b7 if ! non-resid5t
  7 a resid5t4 ,9 bo? cases1 ! ,,dpsp
  tru/ee has 6make ! transf] directly 6!
  rcvg plan1 us+ ,=m ,,nrta#a1
  ,au?oriz,n = ,non-,resid5t ,tax
  ,exemp;n4

          ,"p ,,iii3 ,report+
     ,require;ts & ,tax,n (! ,tru/
    
     ,report+ ,pay;ts & ,o!r ,am.ts
    
#dc4 ,once b5efits 2come paya# "u !
  plan1 ! tru/ee has 6secure an employ]
  a3.t numb] f ! local 4trict (fice =!
  purpose ( report+ s* pay;ts4
#dd4 ,e p]son mak+ a pay;t "u a ,,dpsp
  or a revok$ plan 6a b5efici>y %1   #cf
               ,"p ,,iii            b#af
  subject 6#dg7a7 2l1 report s* pay;ts
  on ! ,t#d;,a ,supple;t>y & ,t#d;,a
  ,summ>y =ms4
#de4 ,! am.t or value ( any funds or
  prop]ty appropriat$ 9 any mann] :at"e
  6or =! b5efit (a taxpay] :o is an
  employ] mak+ pay;ts 6! plan1 or is a
  corpor,n ) : s* an employ] does n d1l
  at >m's l5g?1 o!r ?an pay;ts =1 or on
  a3.t (1 %>es (! capital /ock (!
  taxpay] pur*as$ 0! plan tru/1 % 2
  report$ on ! ,t#d;,a ,supple;t>y &
  ,t#d;,a ,summ>y =ms z 9come (!
  recipi5t4 ,? 9cludes =feit$ am.ts pd
  "u
-------------------------------------#ag
  ! t]ms (! plan 6! employ]4
  ,appropri,ns t >e repd )9 a ye> f ! 5d
  (! ye> 9 : ! appropri,n 0 made & t >e
  n "p (a s]ies ( appropri,ns & repay;ts
  d n h 6be 9clud$ 9 9come4
#df4 ,:5 an alloc,n ( an am.t 3tribut$
  0an employ] 6! plan af ,decemb] #a1
  #aihb1 or = tax,n ye>s />t+ af     #cg
               ,"p ,,iii            a#ag
  #aiha1 a realloc,n (a =feit$ am.t1 is
  made 6an 9dividual describ$ 9
  #ag7k4#b7 abv1 ! am.t m/ 2 9clud$ 9 !
  9dividual's 9come "u subsec;n
  #adg7#aj.c74 ,! am.t %d 2 report$ on
  ,=m ,t#d;,a 9 ! ye> ( alloc,n or
  realloc,n4 ,if ! am.t (! alloc,n or
  realloc,n is pd \ 9 ! same ye> z !
  alloc,n or realloc,n1 ! pay;t does n
  ne$ 6be report$ ag on ,=m ,t#d;,a4 ,:5
  ! pay;t is made 9 a ye> af ! alloc,n
  or realloc,n1 t pay;t m/ 2 report$ on
  ,=m ,t#d;,a4 ,! fact t an am.t 0 taxa#
  "u subsec;n #adg7#aj.c7 does n exclude
  x f ! tax+ provi.ns ( #adg7#aj7 on
  pay\t 9 a ye> af alloc,n or realloc,n4

       ,det]m9+ ,9come f a ,,dpsp
    
#dg4 ,am.ts rcvd 9 a tax,n ye> 0a
  b5efici>y 7o!r ?an an employ]7 f a
  tru/ gov]n$ 0a ,,dpsp or revok$ plan %
  2 9clud$ 9 calculat+ ! b5efici>y's
                                     #ch
               ,"p ,,iii            b#ag
  9come subject 6! foll[+ exclu.ns &
  deduc;ns3
  7a7 ,! foll[+ am.ts d n h 6be 9clud$ 9
    ! b5efici>y's 9come1 & %d n 2
    report$ on ! ,t#d;,a ,supple;t>y &
    ,t#d;,a ,summ>y =ms3
    7;i7 ! co/ ( an annu;y describ$ 9
      #ag7k7 abv pur*as$ "u ! plan =!
      b5efici>y2
    7;ii7 am.ts allocat$ 6! b5efici>y :5
      ! plan 0 an employees' pr(it %>+
      plan & exclud$ f 9come 2c (
      subsec;n #adg7#aa72
    7;iii7 am.ts 3tribut$ 6! plan 0!
      b5efici>y :5 ! plan 0 a ,,dpsp b
      exclud$ f 9come 2c ( subsec;n
      #adg7#ab72
    7;iv7 an am.t repres5t+ a def]r$
      capital ga9 on %>es transf]r$ \ (a
      ,,dpsp = : ! b5efici>y
-------------------------------------#ah
      has made an elec;n "u subsec;n
      #adg7#aj.a72 &
                                     #ci
               ,"p ,,iii            a#ah
    7;v7 am.ts transf]r$ directly 6ano!r
      regi/]$ plan z describ$ 9 #dj abv4
  7b7 ,! foll[+ >e am.ts : ! b5efici>y c
    deduct on 8 or h] 9come tax return f
    ! am.t report$ on ! ,t#d;,a
    ,supple;t>y =m if ! b5efici>y makes
    c]ta9 transf]s or elec;ns3
    7;i7 a sp\se :o rcvs a pay;t f a
      ,,dpsp "? a te/a;t>y tru/ on ! d1?
      ( an employee :o 0 a b5efici>y (!
      plan c deduct s* am.ts "u p>agraph
      #fj7j7 t >e pd 9 ! ye>1 or )9 #fj
      "ds af ! 5d (! ye>1 z a 3tribu;n
      6an ,,rpp or z a premium "u an
      ,,rrsp 78sp\se0 = ? purpose
      9cludes -mon-law sp\se z def9$ 9
      subsec;n #adf7#a.a772
    7;ii7 am.ts pd 9 ! ye> or )9 #fj "ds
      af ! 5d (! ye> z a 3tribu;n 6an
      ,,rpp or z a premium "u an ,,rrsp
      repres5t+ ! co/ am.t 6! b5efici>y
      ( %>es transf]r$ \ (a ,,dpsp1 z
      p]mitt$ 0p>agraph #fj7j71 if !
      b5efici>y has made an elec;n   #dj
               ,"p ,,iii            b#ah
      "u subsec;n #adg7#aj.a7 3c]n+ !
      %>es2 &
    7;iii7 =! #aihi 6#aiid tax,n ye>s1
      am.ts repres5t+ p]iodic pay;ts
      rcvd f ! ,,dpsp1 b n m ?an 4#f1jjj
      9 any "o ye>1 t >e pd 9 ! ye> !
      p]iodic pay;ts >e rcvd or )9 #fj
      "ds af ! 5d (! ye> z a premium "u
      a sp\sal ,,rrsp1 z p]mitt$
      0p>agraph #fj7j4#b74
  7c7 ,if a pay;t is made 6a b5efici>y's
    heirs or e/ate1 any su3es.n duty pd
    "u a prov9cial su3es.n duty act t
    applies 6t pay;t c 2 deduct$ :5
    calculat+ ! 9come (! recipi5t1 z
    p]mitt$ 0p>agraph #fj7m4#a74
#dh4 ,a taxpay] is 3sid]$ 6h rcvd a
  b5efit f a ,,dpsp if prop]ty (a tru/
  gov]n$ 0a ,,dpsp or a revok$ plan is
  4pos$ ( 6! taxpay] at a price t is
  less ?an ! fair m>ket value at ! "t (!
  transac;n1 or if prop]ty is acquir$ f
  ! taxpay] at a price t is m ?an ! fair
  m>ket value at ! "t (!             #da
               ,"p ,,iii             #ai
  transac;n4 ,! di6];e 2t ! fair m>ket
  value &! sale or pur*ase price m/ 2
  report$ on ! ,t#d;,a ,supple;t>y &
  ,t#d;,a ,summ>y =ms & 9clud$ 9 !
  taxpay]'s 9come =! cal5d> ye> 9 : !
  transac;n o3urs4 ,s* a transac;n al
  subjects ! tru/ 6a p5alty tax 7see
  #ea7g7 2l74
#di4 ,an am.t report$ on ,=m ,t#d;,a 9 !
  "n ( an employ] "u ! plan or a
  corpor,n ) :om ! employ] does n d1l at
  >m's l5g? m/ 2 9clud$ 9 ! 9come (!
  taxpay] "nd1 un.s ! funds or prop]ty1
  or an am.t equal 6! value (! funds or
  prop]ty1 0 repd 6! tru/ )9 "o ye> (!
  5d (! tax,n ye>1 & z l;g z ! repay;t 0
  n "p (a s]ies ( appropri,ns &
  repay;ts4





                                     #db
          ,tax,n ,ye> ( ,tru/       a#ai
    
#ej4 ,! tax,n ye> (a tru/ gov]n$ 0a
  ,,dpsp or a revok$ plan is ! cal5d>
  ye> or "p-ye> dur+ : ! tru/ exi/$4

          ,tax ,paya# 0a ,tru/
    
#ea4 ,a tru/ gov]n$ 0a ,,dpsp is exempt
  f tax except 9 ! circum/.es describ$
  2l3
  7a7 ,tax is paya# on ! taxa# 9come (a
    tru/ =a tax,n ye> dur+ any "p ( : !
    tru/ 0 gov]n$ 0a revok$ plan4
  7b7 ,if1 9 a tax,n ye>1 ! tru/
    acquires a non-qualifi$ 9ve/;t1 tax
    is paya# equal 6! fair m>ket value (
    s* 9ve/;t at ! "t x 0 acquir$4 ,s*
    tax is paya# )9 #aj "ds (! "d on : !
    non-qualifi$ 9ve/;t is acquir$4 ,a
    refund (! tax c 2 claim$ if ! tru/
    4poses (a prop]ty t1 :5 acquir$1 0 a
    non-qualifi$ 9ve/;t4 ,! refund is
    equal 6ei ! am.t (! tax impos$ z a
    result (! acquisi;n (!           #dc
               ,"p ,,iii            b#ai
    prop]ty1 or ! proce$s ( 4posi;n1
    :i*"e is less 7non-qualifi$ 9ve/;ts
    >e d1lt ) 9 #ef 2l74
  7c7 ,if a tru/ [ns prop]ty acquir$ af
    ,augu/ #bd1 #aigb1 : 0 a qualifi$
    9ve/;t :5 acquir$ & : lat] 2comes a
    non-qualifi$ 9ve/;t1 tax is paya#
    equal 6#a@3p (! fair m>ket value at
    ! "t ( acquisi;n ( s* prop]ty = ea*
    mon? "?\t : ! non-qualifi$ 9ve/;t 0
    held4
  7d7 ,if1 9 a tax,n ye>1 tru/ prop]ty
    is us$ z secur;y =a loan1 tax is
    paya# equal 6! fair m>ket value (!
    prop]ty z (! date x
-------------------------------------#bj
    is s us$4 ,s* tax is paya# )9 #aj
    "ds (! "d on : ! prop]ty is us$ z
    secur;y =a loan4 ,a refund (! tax c
    2 claim$1 if s* prop]ty c1ses 6be s
    us$4 ,! refund is equal 6! tax
    impos$ :5 ! prop]ty 0 us$ m9us any
    net loss su/a9$ 0! tru/ 2c ( s* use4
                                     #dd
               ,"p ,,iii            a#bj
  7e7 ,if1 at ! 5d ( any mon? 9 a tax,n
    ye>1 ! tru/ holds =eign prop]ty
    acquir$ af ,june #ah1 #aiga 7o!r ?an
    prop]ty t 0 n a qualifi$ 9ve/;t at !
    5d (! mon?71 & if ! co/ am.t ( all
    =eign prop]ty held exce$s ! total (3
    7;i7 #aj@3p (! co/ am.t ( all
      prop]ty held at ! 5d ( any mon? 9
      ! #aihi & prior tax,n ye>s1 #ab@3p
      at ! 5d ( any mon? 9 #aiij1 #ad@3p
      9 #aiia1 #af@3p 9 #aiib1 #ah@3p 9
      #aiic1 & #bj@3p 9 #aiid & foll[+
      ye>s2 &
    7;ii7 ! less] ( ?ree "ts ! small
      busi;s 9ve/;t am.t (! tru/ =! mon?
      & #bj@3p (! co/ am.t ( all prop]ty
      held at ! 5d (! mon?2
    
    tax is paya# 0! tru/ equal 6#a@3p (!
    less] (! excess describ$ abv &! co/
    am.t ( all =eign prop]ty acquir$ af
    ,june #ah1 #aiga4
  7f7 ,! tru/ is lia# 6pay a tax if
    c]ta9 agree;ts >e 5t]$ 96=!      #de
               ,"p ,,iii            b#bj
    acquisi;n ( %>es at a price t may
    di6] f _! fair m>ket value on ! date
    ( pur*ase4 ,! tax paya# is equal
    6#a@3p = ea* mon? 9 a tax,n ye> t an
    agree;t describ$ 9 sec;n #bjf.a is
    \t/&+1 calculat$ on3
    7;i7 ! maximum pur*ase price (! %>es
      = agree;ts 5t]$ 96af ,decemb] #aa1
      #aigi1 & 2f ,july #ad1 #aiij2 &
    7;ii7 ! fair m>ket value (! %>es at
      ! "t ! agree;t 0 5t]$ 96= agree;ts
      5t]$ 96af ,july #ac1 #aiij4
  7g7 ,if1 af #aiij1 ! tru/ 4poses (
    prop]ty 6a taxpay] at a price t is
    less ?an ! fair m>ket value at ! "t
    (! transac;n1 or acquires prop]ty f
    a taxpay] at a price t is m ?an !
    fair m>ket value at ! "t (!
    transac;n1 tax is paya# 0! tru/ =!
    cal5d> ye> 9 : ! transac;n o3urs
    equal 6#ej@3p (! di6];e 2t ! fair
  

                                     #df
               ,"p ,,iii             #ba
    m>ket value &! sale or pur*ase price
    7? is 9 a4i;n 6! 9come 9clu.n 0!
    taxpay] not$ 9 #dh abv74
  7h7 ,! tru/ is taxa# on an excess am.t
    cr1t$ 03tribu;ns made 0b5efici>ies
    or gifts 6! tru/ held at ! 5d ( any
    mon?4 ,! excess am.t =a ,,dpsp tru/
    at ! 5d (a "picul> mon? is ! total (
    all am.ts ea* ( : is3
    7;i7 ,! total ( all 3tribu;ns made
      0a b5efici>y af ,may #be1 #aigf1
      o!r ?an3
      ,a4 3tribu;ns t h be5 deduct$ 0!
        b5efici>y "u p>agraph #fj7k72
      ,b4 transf]s on 2half (! b5efici>y
        "u subsec;n #adg7#ai72 or
      ,c4 3tribu;ns 7except ^? ref]r$
        6in 7,a7 & 7,b7 abv7 made 0!
        b5efici>y 9 ea* cal5d> ye> 2f
        #aiia t >e n m ?an 4#e1ejj2 t h
        n be5 return$ 6! b5efici>y 2f t
        "t2 or
    7;ii7 ! am.t ( any gifts rcvd 0!
      tru/ af ,may #be1 #aigf4       #dg
               ,"p ,,iii            a#ba
    ,a sep>ate calcul,n "u 7;i7 abv is
    requir$ = ea* b5efici>y ^: 3tribu;ns
    result 9 an excess am.t 9 ! tru/ 9 !
    ye> & tax at #a@3p (! excess am.t at
    ea* mon?-5d 3t9ues 6be paya# 9 lat]
    ye>s until ! excess 3tribu;ns >e
    return$ 6! b5efici>y4 7,any
    b5efici>y 3tribu;ns made af #aiij1
    o!r ?an a direct transf] f ano!r
    ,,dpsp1 >e n only subject 6? tax1 b
    cause regi/r,n (! ,,dpsp 62come
    revoca#47
  
,note3
  ,= tax,n ye>s 2f #aiia1 ! tru/ _h 6pay
  a tax equal 6#ej@3p (! =feitures >is+
  9 ! tru/ 9 ! ye>1 6! ext5t t s*
  =feitures 7 n reallocat$ 9 ! ye> or
  #ij "ds af t 6b5efici>ies "u ! plan )9
  ! am.ts specifi$ 9 =m] p>agraph
  #bja7#b77b7 or pd 6! employ] 9 ! ye> &
  9clud$ 9 ! employ]'s 9come4 ,e6ective
  9 #aiia1 ! regi/r,n (a ,,dpsp 2comes
  revoca# if =feit$ am.ts >e         #dh
               ,"p ,,iii             #bb
  n reallocat$ or pd 6"picipat+ employ]s
  9 a3ord.e ) #ag7i4#a7 abv4

#eb4 ,if1 9 a tax,n ye>1 a tru/ is
  gov]n$ 0a revok$ plan1 tax is paya# 0t
  tru/ z describ$ 9 p>agraphs #ea7a71
  7b71 7d71 & 7g7 abv4
#ec4 ,if #ea7b7 or 7d7 abv apply1 tax is
  paya# 0! tru/ )9 #aj "ds (! "d on : !
  tru/ acquires ! non-qualifi$ 9ve/;t or
  uses ! prop]ty z secur;y1 :i*"e
  applies4 ,o!rwise1 any tax paya# 0a
  tru/1 ev5 if x is calculat$ on a
  mon?ly basis z 9 #ea7c71 7e71 7f71 &
  7h7 abv1 is paya# )! annual return t
  m/ 2 fil$ on 2half (! tru/ 7see #ee
  2l74
#ed4 ,if a tax has be5 pd z requir$
  0subsec;n #aii7#a7 on .9itial .non-
  qualifi$ .9ve/;ts 7c]ta9 9ve/;ts held
  s9ce ,decemb] #ba1 #aiff71 ! tru/ c
  apply =a refund "u subsec;n #aii7#b7 (
  s* tax t has n previ\sly be5 refund$
  :5 x 4poses ( ^? 9ve/;ts4          #di
        ,annual ,returns ( ,tru/    a#bb
    
#ee4 ,=m ,t#c;,d1 ,def]r$ ,pr(it ,%>+
  ,plan or ,revok$ ,plan ,9=m,n ,return
  & ,9come ,tax ,return1 is 6be -plet$
  0a tru/ee (a tru/ gov]n$ at any "t 9 !
  ye> 0a ,,dpsp or a revok$ plan4 ,!
  return m/ 2 fil$ )9 #ij "ds (! 5d (!
  cal5d> ye>4 ,if x lat] 2comes nec
  6submit a4i;nal or revis$ 9=m,n1 s*
  9=m,n %d 2 submitt$ 0lr & n 0fil+ an
  am5d$ return4

       ,qualifi$ & ,non-,qualifi$
                ,9ve/;ts
    
#ef4 ,p>agraph #bjd7e7 def9es a qualifi$
  9ve/;t =a tru/ gov]n$ 0a ,,dpsp or a
  revok$ plan z 9ve/;ts li/$ 9 t
  p>agraph & 9 sec;n #dijj 7sec;n #aejb
  2f #aiha7 (! ,9come ,tax ,regul,ns1
  :ile p>agraph #bjd7d7 def9es a non-
  qualifi$ 9ve/;t4
#eg4 ,am.ts pd 0a tru/ gov]n$ 0a ,,dpsp
  or a revok$ plan 6acquire 9t]e/s   #ej
               ,"p ,,iii            b#bb
  9 life 9sur.e policies >e non-qualifi$
  9ve/;ts un.s ! 9t]e/ is 9 a policy
  describ$ 9 subsec;ns #aih7#f7
-------------------------------------#bc
  & 7#f.a7 or )9 ! limits /at$ 9
  subsec;n #aih7#g74 ,9t]e/s 9 life
  9sur.e policies fall+ "u ^? subsec;ns
  >e deem$ n 6be acquisi;ns ( non-
  qualifi$ 9ve/;ts4 ,subsec;n #aih7#h7
  provides rules = det]m9+ :5 s* 9ve/;ts
  h be5 4pos$ (&! proce$s ( 4posi;n4
  7,note3 ,^! 9ve/;ts >e n qualifi$
  9ve/;ts ev5 ?\< !y >e deem$ n 6be
  acquisi;ns ( non-qualifi$ 9ve/;ts47

            ,o!r ,public,ns
    
#eh4 ,y w f9d a4i;nal ,,dpsp 9=m,n 9 !
  curr5t v].n (! foll[+ public,ns4 ,!y
  >e availa# at yr local 4trict (fice3

  ,p5.n & ,,rrsp ,tax ,guide
  ,employ]s' ,p5.n ,adju/;t ,calcul,n
    ,guide                           #ea
               ,"p ,,iii            a#bc
  ,employ]s' ,guide 6,payroll ,deduc;ns
  ,guide = ,pay]s ( ,non-,resid5t ,tax
  ,,it-#bha ,elec;ns on ,s+le ,pay;ts f
    a ,def]r$ ,pr(it ,%>+ ,plan
  ,,it-#cfc ,def]r$ ,pr(it ,%>+ ,plans--
    ,deductibil;y ( ,3tribu;ns & ,tax,n
    ( ,am.ts ,rcvd or ,allocat$
  ,,it-#djh ,life ,9sur.e ,policies z
    ,9ve/;ts ( ,,rrsp's & ,,dpsp's
  ,,it-#dab ,=eign ,prop]ty ( ,regi/]$
    ,plans
  ,,ic #gg-af ,non-,resid5t ,9come ,tax
  ,,ic #gh-ad ,guidel9es = ,tru/
    ,-panies & ,o!r ,p]sons ,responsi# =
    ,fil+ ,t#c;,r-;,,ind1 ,t#c;,r-;,g1
    ,t#c;,,rif-;,,ind1 ,t#c;,,rif-;,g1
    ,t#c;,h-;,,ind1 ,t#c;,h-;,g1
    ,t#c;,d1 ,t#c;,p1 ,t#c;,s1 ,t#c;,,ri
    & ,t#c;,f ,returns
  ,,ic #gi-h ,=ms 6be ,us$ = ,direct
    ,transf] ( ,funds 6or ,2t ,plans or
    =! ,pur*ase ( an ,annu;y
  
                                     #eb
         ,p]sonal ,9=m,n ,banks     b#bc
    
#ei4 ,9=m,n obta9$ 0! ,de"p;t = tax,n
  purposes is /rictly 3fid5tial4 ,only !
  taxpay] or p]sons au?oriz$ 0! taxpay]
  or law h a3ess 6? 9=m,n4 ,! ,privacy
  ,act &! ,a3ess 6,9=m,n ,act re9=ce ?
  protec;n4
















                                     #ec