Form RC298 Advantage Tax Return for Rrsp, Tfsa or Rdsp Issuers, Resp Promoters or Rrif Carriers - Canada

Form RC298 is for RRSP, TFSA, or RDSP issuers, RESP promoters, or RRIF carriers in Canada. It is used for reporting information related to these accounts to the Canada Revenue Agency (CRA). The form helps the CRA track and ensure compliance with tax rules and regulations for these registered investment accounts.

The Form RC298 Advantage Tax Return is filed by RRSP (Registered Retirement Savings Plan), TFSA (Tax-Free Savings Account), and RDSP (Registered Disability Savings Plan) issuers, RESP (Registered Education Savings Plan) promoters, and RRIF (Registered Retirement Income Fund) carriers in Canada.

FAQ

Q: What is the Form RC298?
A: Form RC298 is the Advantage Tax Return for RRSP, TFSA or RDSP Issuers, RESP Promoters or RRIF Carriers in Canada.

Q: Who needs to file Form RC298?
A: RRSP, TFSA or RDSP issuers, RESP promoters or RRIF carriers in Canada need to file Form RC298.

Q: What is the purpose of Form RC298?
A: The purpose of Form RC298 is to report information related to RRSPs, TFSAs, RDSPs, RESPs and RRIFs to the Canada Revenue Agency.

Q: When is the deadline to file Form RC298?
A: The deadline to file Form RC298 is within 90 days after the end of each calendar year.

Q: Are there any penalties for not filing Form RC298?
A: Yes, there can be penalties for not filing Form RC298, including fines and possible legal consequences.

Q: What information is required to complete Form RC298?
A: The information required to complete Form RC298 includes details about RRSPs, TFSAs, RDSPs, RESPs and RRIFs, as well as the names and contact information of the issuers, promoters or carriers.

Q: Is there a fee to file Form RC298?
A: No, there is no fee to file Form RC298.

Q: Can I file Form RC298 on behalf of someone else?
A: Yes, if you are authorized to do so, you can file Form RC298 on behalf of someone else, such as a client or organization.