When Are Corporate Tax Returns Due in Canada?

Knowing when your corporate tax return is due is essential for staying compliant with the Canada Revenue Agency. For most corporations, the T2 return must be filed within six months after the end of your fiscal year. This article explains the filing deadline for common year-ends, the difference between filing and payment deadlines, what happens when a due date falls on a weekend or holiday, and the penalties for filing late.

General Rule for T2 Filing Deadlines

Your corporation’s income tax return (the T2) is due six months after the end of your fiscal year. If your tax year ends on the last day of a month, the return is due on the last day of the sixth month following the year-end. If your year-end is not the last day of a month, the due date falls on the same day of the month six months later.

Filing Deadlines for Common Fiscal Year-Ends

The following table lists some typical fiscal year-ends and their corresponding T2 filing deadlines, based on official Canada Revenue Agency rules.

Fiscal Year-End	T2 Filing Deadline
December 31	June 30
March 31	September 30
August 31	February 28
September 23	March 23
October 2	April 2

As the table shows, a December 31 year-end means your corporate return is due by June 30 of the following year. A March 31 year-end moves the deadline to September 30. If your fiscal year ends on a day other than the last day of the month, your due date is simply the same calendar day six months later, as seen with the September 23 and October 2 examples.

When the Filing Due Date Falls on a Weekend or Holiday

If your T2 filing due date lands on a Saturday, Sunday, or a public holiday recognized by the Canada Revenue Agency, your return is considered filed on time if it is received or postmarked on the next business day. This rule applies to the filing deadline itself, and it is a good practice to check whether the same extension applies to payment deadlines separately, as the rules for payment are not always identical. When in doubt, aim to submit before the official due date to avoid any confusion.

Filing Deadline vs. Payment Deadline

One of the most common misunderstandings about corporate taxes in Canada is thinking the filing deadline is the same as the payment deadline. They are not the same.

T2 Filing Deadline

The T2 return must be filed six months after the end of your fiscal year. This is the date by which the Canada Revenue Agency expects to receive your completed return, regardless of whether you have a balance owing.

Payment Deadline

Any balance of tax owing is generally due earlier than the filing deadline. For most corporations, the payment deadline is two months after the end of the fiscal year. However, certain Canadian-controlled private corporations (CCPCs) may qualify for a payment deadline of three months after year-end. This means you may need to pay your taxes before you file your return. It is important to distinguish between these two dates to avoid late-payment penalties and interest.

Instalment Payments

Corporations are generally required to pay income tax in instalments throughout the year, followed by a final balance due two or three months after year-end. The exact instalment schedule and thresholds are not covered in this article, so you should consult the Canada Revenue Agency or a qualified accountant to determine whether your corporation needs to make instalment payments.

T4 and T5 Information Return Deadlines

In addition to your corporate T2 return, you may need to file information returns for amounts paid to employees or shareholders. T4 slips for employment income and T5 slips for dividends or investment income for the previous calendar year are due by February 28 (or the next business day if that date falls on a weekend or public holiday). For example, if February 28 falls on a Saturday, the deadline shifts to the following business day. These deadlines apply separately from your corporate tax return, so plan accordingly.

Electronic Filing Requirement

Most corporations are required to file their T2 return electronically using Canada Revenue Agency-certified software. There are exceptions for certain types of corporations, such as insurance corporations and non-resident corporations. If your corporation fits one of the exceptions, you may be permitted or required to file on paper. Check the latest Canada Revenue Agency rules to confirm your filing method. Electronic filing is generally faster and reduces the chance of errors.

Penalties for Filing Late

If your corporation files its T2 return after the deadline, a penalty applies. The penalty is 5% of the tax that was due on the filing deadline, plus an additional 1% of that tax for each complete month the return is late. These penalty rates are based on the tax amount that was unpaid on the original due date. In addition to the penalty, interest may also be charged on any unpaid balance. The Canada Revenue Agency may provide relief from penalties and interest in certain circumstances, but relief is not automatic and must be requested.

Refund Limitation

If your corporation is entitled to a tax refund, you must file the return no later than three years after the end of the tax year to receive that refund. After that period, any refund may be forfeited. This rule makes it important to file even if you expect a refund, and to file on time.

Frequently Asked Questions

What if my fiscal year-end is not in December?

Your corporate T2 return is due six months after your fiscal year-end regardless of which month it ends. For example, a year-end of March 31 means a due date of September 30. The same rule applies to any other date, whether it is the last day of a month or not.

Is the filing deadline the same as the payment deadline?

No. The filing deadline is six months after year-end, while the payment deadline for any tax owing is generally two months after year-end for most corporations, or three months for certain Canadian-controlled private corporations. Payment is often due before the return is filed.

What are the penalties for filing a corporate tax return late?

If your T2 return is filed late, the penalty is 5% of the tax due on the filing deadline plus 1% of that tax for each complete month the return is late. Interest may also apply on any unpaid balance.

Do I need to file my corporate tax return electronically?

Most corporations must file their T2 return electronically using Canada Revenue Agency-certified software. Exceptions include insurance corporations and non-resident corporations. Verify your filing method with the Canada Revenue Agency or a tax professional.

When are T4 and T5 slips due?

T4 slips for employment income and T5 slips for dividends and investment income for the previous calendar year are due by February 28. If that date falls on a weekend or public holiday, the deadline shifts to the next business day.

Understanding your corporate tax deadlines helps you avoid penalties and manage your cash flow. If your corporation has a year-end that is not a month-end, or if you are uncertain about payment instalments or electronic filing requirements, consider speaking with an accountant who can confirm your specific obligations under the Canada Revenue Agency rules.