Form RC342 "Request by an Insolvency Practitioner for a Waiver of the Requirement to File a T2 Corporation Income Tax Return Under Subsection 220(2.1) of the Income Tax Act" - Canada

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Download Form RC342 "Request by an Insolvency Practitioner for a Waiver of the Requirement to File a T2 Corporation Income Tax Return Under Subsection 220(2.1) of the Income Tax Act" - Canada

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Request by an Insolvency Practitioner for a Waiver of the Requirement to File a
T2 Corporation Income Tax Return Under Subsection 220(2.1) of the Income Tax Act
Part 1 – Insolvency practitioner
*
Name of insolvency practitioner
Trustee licence number
Address of insolvency practitioner
Name of insolvent corporation
Business number of insolvent corporation
Fiscal period
**
Year Month Day
Year Month Day
Tax year start
Tax year end
Effective
,
was appointed as
Date (Year Month Day)
Insolvency practitioner
the
of the above corporation.
Capacity
*
Insolvency practitioner refers to a trustee in bankruptcy, a receiver, or a liquidator, and every agent or other person administering, managing, winding up,
controlling, or otherwise dealing with the property, business, estate, or income of a corporation, other than a shareholder, director, officer or employee of the
corporation.
**
The corporation's tax year is its fiscal period. A fiscal period cannot be longer than 53 weeks (371 days). Complete a separate form for each period.
Part 2 – Certification
We cannot prepare a corporation income tax return for the fiscal period noted above. The actions and reasonable efforts taken to compile, examine, or
reproduce the necessary records of the corporation for the purposes of filing the outstanding corporation income tax return for the above-noted insolvent
corporation are described below. (If you need more space, attach a separate page.)
RC342 E (18)
(Ce formulaire est disponible en français.)
Page 1 of 2
Clear Data
Protected B
when completed
Request by an Insolvency Practitioner for a Waiver of the Requirement to File a
T2 Corporation Income Tax Return Under Subsection 220(2.1) of the Income Tax Act
Part 1 – Insolvency practitioner
*
Name of insolvency practitioner
Trustee licence number
Address of insolvency practitioner
Name of insolvent corporation
Business number of insolvent corporation
Fiscal period
**
Year Month Day
Year Month Day
Tax year start
Tax year end
Effective
,
was appointed as
Date (Year Month Day)
Insolvency practitioner
the
of the above corporation.
Capacity
*
Insolvency practitioner refers to a trustee in bankruptcy, a receiver, or a liquidator, and every agent or other person administering, managing, winding up,
controlling, or otherwise dealing with the property, business, estate, or income of a corporation, other than a shareholder, director, officer or employee of the
corporation.
**
The corporation's tax year is its fiscal period. A fiscal period cannot be longer than 53 weeks (371 days). Complete a separate form for each period.
Part 2 – Certification
We cannot prepare a corporation income tax return for the fiscal period noted above. The actions and reasonable efforts taken to compile, examine, or
reproduce the necessary records of the corporation for the purposes of filing the outstanding corporation income tax return for the above-noted insolvent
corporation are described below. (If you need more space, attach a separate page.)
RC342 E (18)
(Ce formulaire est disponible en français.)
Page 1 of 2
Clear Data
Protected B
when completed
Part 3 – Acknowledgement
We acknowledge that the minister of national revenue may make a future request for documents or information for the return if the requirement to file the
return is waived as requested. We will make such documents or information available to the authorities designated by the minister of national revenue, upon
request.
We acknowledge that all relevant available financial information of the corporation, if any, in regards to the preparation of this request may be subject to
inspection and audit by the relevant governmental authorities.
We further acknowledge that a waiver does not rule out compliance, present and future, by the insolvency practitioner with all other relevant provisions of the
Income Tax Act, including subsection 128(1) or with section 22 of the Bankruptcy and Insolvency Act.
Part 4 – Authorized signatory
In accordance with the certification and acknowledgement in parts 2 and 3, we ask that the minister of national revenue waive the requirement to file a
corporation income tax return for the above fiscal period.
,
Name of insolvency practitioner firm
Capacity
for
, and not in its personal capacity,
Name of insolvent corporation
per:
,
.
Signature of the individual insolvency practitioner representing the insolvent corporation
Date (Year Month Day)
Mail or fax this completed form to your tax services office's Insolvency Intake Centre:
Quebec, Ontario and Atlantic Regional Insolvency Intake Centre
Pacific and Prairies Regional Insolvency Intake Centre
Canada Revenue Agency
Canada Revenue Agency
Shawinigan-Sud National Verification and Collection Centre
Surrey National Verification and Collection Centre
4695 Shawinigan-Sud Blvd.
9755 King George Blvd.
Shawinigan QC G9P 5H9
Surrey BC V3T 5E1
Telephone (toll free): 1-866-248-1576
Telephone (toll-free): 1-866-891-7403
Fax (toll-free)(Quebec proceedings): 1-800-567-9325
Fax (toll-free): 1-866-219-0311
Fax (toll-free)(Atlantic and Ontario proceedings): 1-866-229-0839
Privacy statement
Personal information is collected under the Income Tax Act to administer tax, benefits, and related programs. It may also be used for any purpose related to
the enforcement of the Act such as audit, compliance and collection activities. It may be shared or verified with other federal, provincial, territorial or foreign
government institutions to the extent authorized by law. Failure to provide this information may result in interest payable, penalties or other actions. Under the
Privacy Act, individuals have the right to access, or request correction of, their personal information, or to file a complaint with the Privacy Commissioner of
Canada regarding the handling of their personal information. Refer to Personal Information Bank CRA PPU 047 at canada.ca/cra-info-source.
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