Filing deadline

A partnership must report income on the basis of a fiscal period that ends on December 31, if it carries on a business and if at least one of its members is

• an individual (other than a testamentary trust)
• another partnership that meets the same conditions

A partnership composed only of individuals may have a fiscal period that ends on a date other than December 31. This is the case for partnerships whose designated partner made an election to this effect in his or her 1995 income tax return (provided the election was not later revoked). It is also the case for new partnerships that meet the applicable conditions.

The partnership return must be filed

• by March 31 of the year following the year in which the partnership's fiscal period ended, where, throughout the fiscal period, all members of the partnership were individuals;
• within five months after the end of the partnership's fiscal period, where, throughout the fiscal period, all members of the partnership were corporations;
• in all other cases, by the earlier of the following dates: March 31 of the year following the year in which the partnership's fiscal period ended; the last day of the fifth month following the end of the partnership's fiscal period.

Final return

Where the partnership ceases its activities, it must file any return that has not yet been filed by the earlier of the following dates:

• the 90th day following the date on which activities ceased
• the filing deadline for the return