Filing date and penalties

You must enclose copy 1 of each RL-16 slip with form TP-646-V, Trust Income Tax Return, and file the return within 90 days after the end of the trust's taxation year.

Copies 2 and 3 of the RL-16 slips must be remitted to the beneficiaries, and any outstanding balance must be paid, within the same time period.

Penalties

Trusts that file a return after the deadline are liable to the following penalties:

• a penalty of 5% of the income tax that remains unpaid on the filing due date
• an additional 1% penalty for each full month the return is late, to a maximum of 12 months

When determining the amount of unpaid tax for the purposes of calculating these penalties, Revenu Québec takes into account any losses (if applicable), carried forward from a previous taxation year.

For further information, refer to the Guide to Filing the Trust Income Tax Return (TP-646.G-V).