Who Needs Form T4A?
Form T4A refers to Statement of Pension, Retirement, Annuity, and Other Income in Canada. It is used by individuals who have income from the sources mentioned above. This form is also used by the person who pays corresponding type of income to the recipient. Usually this is an employer, financial institution or pension custodian. The payer is actually the one who fills out the form and sends it to the taxpayer who will later report this income in their income tax return.
What is Form T4A for?
Form T4A is created to cover all income types a Canadian citizen may get. This form is used if a payer paid more than $500 or a tax was withheld from any payment. With this form employees complete their income taxes. Therefore, it is important that a payer fill out and send this form on time.
Is Form T4A Accompanied by Other Forms?
A payer sends out Form T4A without any additional documents, but the recipient attaches the copies of this form to their income tax returns. If the payer can’t include all the payments within one Form T4A, they may use more such forms.
When is Form T4A due?
Form T4A is issued by the last day of February. It means that by this date a recipient must get their tax slip from the payers.
How Do I Fill out Form T4A?
Form T4A is a brief form consisting of one page. This page is split into two sections. The one is for English-speaking filers, another one is for French-speaking filers. Form T4A requires payer’s personal information including name, address, social insurance number. The same information is required for the recipient.
Where Do I Send Form T4A?
Once completed, send Form T4A to the recipient and CRA.
