Key takeaways
- T2 filing deadline and corporate tax payment deadline are separate obligations with different dates.
- Eligible CCPC corporations get a three-month balance-due date, not the standard two months.
- Instalments are required only if tax owing exceeded $3,000 in either of the two preceding years.
- Missing any deadline incurs penalties and compounded daily interest — penalties range from 1% to 20% depending on the return type.
A Canadian corporation does not have one tax deadline. It has many.
Your T2 return filing deadline is separate from your corporate tax payment deadline. Monthly tax instalments follow a different schedule than quarterly ones. GST/HST filing occurs on its own calendar, independent of corporate year-end. Payroll remittances happen on fixed CRA dates regardless of whether your fiscal year ends in December or June. T4 and T5 information slips are universally due by February 28, regardless of your corporation's year-end. Foreign-owned operations or cross-border transactions may trigger T106, T1134, or T1135 information returns—each with its own scope and deadline. The core reality: filing and payment deadlines are not the same. They depend on three factors: your actual fiscal year-end date, whether your corporation qualifies for extended deadlines as a CCPC, and your CRA remitter or filing frequency classification. A corporation that misses one deadline and assumes it has missed them all—or that catches up on one and thinks all are addressed—quickly faces penalties, interest, and compliance risk. This calendar walks you through calculating your actual deadlines, understanding penalties, and preparing records before each filing season.
Your Deadlines Depend on Three Factors
Fiscal Year-End. A corporation with a December 31 year-end has different T2 and balance-due dates than one with a June 30 year-end. All deadlines are calculated from your actual fiscal year-end, not from calendar months.
Corporation Status and CCPC Eligibility. A Canadian-controlled private corporation (CCPC) may qualify for a three-month balance-due date instead of two months—but only if specific conditions are met. Not every CCPC qualifies automatically; status depends on ownership, small business deduction eligibility, and other factors.
CRA Filing and Remitter Frequency. Your corporation's GST/HST filing frequency (monthly, quarterly, or annual) is assigned by CRA based on your revenue. Your payroll remitter category (regular, quarterly, or accelerated threshold) determines when you remit deductions. These classifications are set by CRA and appear in your online account.
T2 Filing Deadline vs Corporate Tax Payment Deadline
The T2 corporation income tax return must be filed within six months of your fiscal year-end. A December 31 year-end files by June 30. A June 30 year-end files by December 31. This is the filing deadline. Filing late incurs a penalty regardless of payment status.
The corporate tax balance—the amount owing—is generally due two months after your fiscal year-end. A December 31 year-end has a balance-due date of February 28 (or 29 in leap years). A June 30 year-end has a balance-due date of August 31. This is the payment deadline, separate from filing.
CCPC Three-Month Extension. An eligible CCPC may have a three-month balance-due date instead of two months. CCPC eligibility requires: (1) the corporation is Canadian-controlled; (2) it claims the small business deduction in the current or immediately preceding taxation year; and (3) it maintains perfect compliance (all instalments and payments made on time for the previous 12 months). Not every CCPC qualifies. Confirm eligibility with your accountant before assuming the extended deadline applies.
Example: A December 31 year-end CCPC that meets all eligibility conditions files its T2 by June 30 and has a balance-due date of March 31 (not May 31). A December 31 year-end corporation that is not CCPC-eligible files by June 30 with a balance-due date of February 28. For a June 30 year-end CCPC, the balance-due date is September 30 (not November 30).
How to Calculate Deadlines for Different Year-Ends
December 31 Year-End: T2 filing deadline June 30; balance-due date February 28 for non-CCPC corporations (or March 31 if eligible CCPC).
June 30 Year-End: T2 filing deadline December 31; balance-due date August 31 for non-CCPC corporations (or September 30 if eligible CCPC).
Non-Calendar Year-End (e.g., March 31, September 30, or any other date): T2 filing deadline six months after year-end; balance-due date two months after year-end (or three months for eligible CCPC). For example, a September 30 year-end has a balance-due date of November 30 (or December 31 if eligible CCPC) and a T2 filing deadline of March 31 the following year.
2026 Corporate Tax Instalment Calendar
When Instalments Are Required. A corporation must pay instalments if it owed corporate income tax exceeding $3,000 in either of the two preceding taxation years. CRA determines the instalment amount and frequency based on prior-year tax owing or a two-year average.
Monthly Instalments. If instalments are required, most corporations must remit monthly. Monthly instalments are due on the last day of each month. For a December 31 year-end, instalments are due: January 31, February 28, March 31, April 30, May 31, June 30, July 31, August 31, September 30, October 31, November 30, and December 31. For a June 30 year-end, the first instalment is due one month into the fiscal year and continues monthly on the last day of each month through to May 31 of the following year.
Quarterly Instalments. Eligible small corporations with perfect compliance history may pay quarterly instead of monthly. Quarterly instalments are due on the last day of each fiscal quarter. For a December 31 year-end, quarterly instalment dates are March 31, June 30, September 30, and December 31.
Instalment Interest. Late or insufficient instalments incur interest at the CRA prescribed interest rate (currently approximately 8% annually; updated quarterly). Insufficient instalments trigger interest charges on the shortfall from the due date until payment. CRA does not impose instalment penalties, but interest compounds daily on any underpayment.
GST/HST Filing and Payment Calendar
Monthly Filers: GST/HST return is due by the last day of the month following the reporting month. A monthly return for January is due by February 28 (or 29). GST/HST is payable on the same due date.
Quarterly Filers: Most businesses file quarterly. A quarterly return for January–March is due by April 30. A quarterly return for April–June is due by July 31. A quarterly return for July–September is due by October 31. A quarterly return for October–December is due by January 31 the following year. GST/HST is payable on the return due date.
Annual Corporate Filers: Some corporations with annual reporting years file GST/HST annually. The annual return is due three months after the end of your fiscal year. For example, a December 31 year-end GST/HST annual return is due March 31 (not January 31). A June 30 year-end GST/HST annual return is due September 30.
Payroll Remittance and Information-Slip Calendar
CRA assigns your payroll remitter category based on your average monthly withholding amount (AMWA) over the previous two calendar years. You do not choose your category; CRA assigns it and notifies you by letter.
Quarterly Remitters (AMWA < $3,000, perfect compliance history): Payroll deductions are remitted four times per year on fixed dates: April 15, July 15, October 15, and January 15. These dates are set by CRA and do not change. Each remittance covers the previous quarter's withholdings.
Regular Remitters (AMWA ~$25,000): Payroll deductions are remitted monthly by the 15th of the month following the pay month. For example, deductions from January payroll are due by February 15. This applies to the majority of small and medium businesses.
Accelerated Threshold 1 (AT1) Remitters (AMWA $25,000–$100,000): Remittances are due by the 10th of the month following the pay month, or by the 25th of the same month if remitting twice monthly.
Accelerated Threshold 2 (AT2) Remitters (AMWA > $100,000): Remittances are due within three business days of the end of each pay period. For large payroll operations, this results in four remittances per month (1st–7th, 8th–14th, 15th–21st, 22nd–end of month).
Payment Method Matters: CRA's remittance due dates are based on when payment is received, not when it is sent. Online or bank transfers typically take 1–2 business days to clear. If your deadline is the 15th and you submit on the 14th, payment may not clear until the 16th—which is late and incurs penalties.
T4 Slips: Must be filed by February 28 following the calendar year in which remuneration was paid—regardless of your corporate fiscal year-end. For 2026 remuneration, T4s are due by February 28, 2027. Penalties for late T4 filing range from $100 per return to $250 per month of lateness.
T5 Slips: If your corporation pays dividends, interest, royalties, or other qualifying amounts to non-employees, T5 information slips are due by the same February 28 deadline as T4s.
Cross-Border Information Return Matrix
Not every corporation files these forms. Filing requirements depend on specific ownership, transaction, or property conditions. MSBs, PSPs, and fintechs with cross-border operations or non-resident shareholders commonly face these obligations.
| Form | Main Trigger | Filing Deadline | Key Records |
|---|---|---|---|
| T106 | Non-arm's-length transactions with non-resident persons or entities. Includes loans, sales, services, property transfers—not passive ownership. | Same as T2 (6 months) | Transaction documentation, invoice, payment proof, property deeds |
| T1134 | Canadian corporation owns 10%+ of a foreign corporation (must be a corporation, not partnership or trust) at any time in the year | 10 months after year-end | Foreign company registration, articles of incorporation, ownership certificates, audited financials, shareholder records |
| T1135 | Specified foreign property (e.g., securities, bank accounts, loans to non-arm's-length persons) with total cost exceeding CAD $100,000. Excludes: real property/immovables, personal use property, foreign affiliates (use T1134 instead) | Same as T2 (6 months) | Purchase cost, disposition date, fair market value, account statements, broker confirmations |
T1134 Penalties are Severe: Failure to file T1134 incurs a minimum penalty of $2,500 per foreign affiliate, per year. Late filing by knowingly or due to gross negligence results in $500/month penalties (max $12,000). If multiple foreign affiliates exist and filing is late, total penalties can exceed $24,000+. For more information, refer to CRA's T1134 guidance.
December 31 Year-End Master Calendar (2026 Fiscal Year)
This calendar applies to corporations with a December 31 year-end. Adjust dates and frequencies for your actual year-end, GST/HST filing frequency, and payroll remitter category.
January: Monthly corporate instalment due (Jan 31, if applicable). Payroll T4 and T5 preparation begins. Quarterly payroll remitters' deadline (Jan 15 for Q4 2025).
February: Monthly corporate instalment due (Feb 28). T4 and T5 slips filing deadline (Feb 28) for 2025 remuneration. Corporate tax balance due (Feb 28 for standard corporations; March 31 for eligible CCPCs) — separate from T2 filing. Monthly payroll remitters' deadline (Feb 15 for Jan payroll). GST/HST quarterly return for Q4 2025 due (if quarterly filer).
March: Monthly corporate instalment due (Mar 31). Balance-due deadline for eligible CCPC (Mar 31). Quarterly corporate instalment due (Mar 31, if applicable). GST/HST annual return due (Mar 31, if annual filer). Quarterly payroll remitters' deadline (Apr 15 — see below for April). Monthly payroll remitters' deadline (Mar 15 for Feb payroll).
April: Monthly corporate instalment due (Apr 30). GST/HST quarterly return for Q1 2026 due (Apr 30). Quarterly payroll remitters' deadline (April 15) for Q1 payroll. Monthly payroll remitters' deadline (Apr 15 for Mar payroll).
May: Monthly corporate instalment due (May 31). Monthly payroll remitters' deadline (May 15 for Apr payroll).
June: Monthly corporate instalment due (Jun 30). T2 corporate tax return filing deadline (June 30) — separate from balance-due date. GST/HST quarterly return for Q2 2026 due (Jun 30). Monthly payroll remitters' deadline (Jun 15 for May payroll).
July: Fiscal year 2026 has ended. Begin year-end close process. Accountant begins T2 preparation. Monthly corporate instalment due (Jul 31, if applicable). Monthly payroll remitters' deadline (Jul 15 for Jun payroll).
August: Monthly corporate instalment due (Aug 31). GST/HST quarterly return for Q3 2026 due (Aug 31). Monthly payroll remitters' deadline (Aug 15 for Jul payroll).
September: Monthly corporate instalment due (Sep 30). Quarterly corporate instalment due (Sep 30, if applicable). Quarterly payroll remitters' deadline (July 15) for Q2 and Q3 payroll. Monthly payroll remitters' deadline (Sep 15 for Aug payroll).
October: Monthly corporate instalment due (Oct 31). T1134 foreign affiliate reporting deadline (October 31, if applicable) — 10 months after June 30 year-end corporations. GST/HST quarterly return for Q4 2026 due (Oct 31). Quarterly payroll remitters' deadline (October 15) for Q3 payroll. Monthly payroll remitters' deadline (Oct 15 for Sep payroll).
November: Monthly corporate instalment due (Nov 30). Monthly payroll remitters' deadline (Nov 15 for Oct payroll).
December: Monthly corporate instalment due (Dec 31, final instalment of the year). Quarterly corporate instalment due (Dec 31, if applicable). Prepare for year-end close. Quarterly payroll remitters' deadline (January 15, next year) for Q4 payroll. Monthly payroll remitters' deadline (Dec 15 for Nov payroll). Year-end planning for 2027.
Penalties and Interest
Prescribed Interest Rate: CRA charges interest on all unpaid corporate tax, instalments, and remittances at the quarterly prescribed interest rate. As of Q4 2025, the rate is approximately 8% per annum. Interest compounds daily, not annually, so delays trigger exponential interest charges. CRA updates the prescribed rate quarterly (Jan 1, Apr 1, Jul 1, Oct 1), and all interest calculations use the rate in effect on the payment date.
Late T2 Return Penalty: CRA imposes a penalty of the greater of $100 or 5% of unpaid tax at the return-due date, plus an additional 1% of unpaid tax for each complete month the return is late (maximum 20% of unpaid tax). Even if no tax is owing, there is a minimum penalty of $1,000 for the first failure to file, plus $250 for each month the return remains unfiled with no upper limit. This applies regardless of income.
Balance-Due Arrears Interest: If corporate tax owing is not paid by the balance-due date (February 28 or March 31), interest accrues daily at the prescribed rate. Interest begins the day after the payment deadline and compounds daily until full payment is received by CRA.
Instalment Interest: If monthly or quarterly instalments are insufficient or late, CRA charges interest on the shortfall at the prescribed rate from the due date until payment. There is no "instalment penalty" per se, but interest is mandatory on underpayment.
Late or Under-Remitted Payroll Deductions: Penalties range from 10% to 20% of the unremitted amount, depending on circumstances (first occurrence vs. repeated). Interest also accrues at the prescribed rate from the remittance due date. CRA treats source deductions as held in trust, so penalties can be severe.
Late GST/HST Return: Penalties for late GST/HST returns are 1% of net tax owing for a first failure, and 2% for a repeated failure within five years. Interest on unpaid GST/HST also accrues at the prescribed rate, compounded daily.
Late or Missing T4 and T5 Slips: Penalty of up to $100 per return (minimum $25) if filed late. Repeated failures incur greater penalties.
Late or Missing T1134 (Foreign Affiliate Return): Minimum penalty of $2,500 per foreign affiliate per year for failure to file, regardless of taxable income. If filed late due to knowingly or gross negligence, penalty is $500 per month (maximum $12,000). Multiple foreign affiliates mean multiple penalties. For example, a corporation with 5 foreign affiliates that files T1134 late could face $12,000 × 5 = $60,000 in penalties.
Late or Missing T1135 or T106: Penalties range from $25 to $500 per form, depending on timing and circumstance.
MSB and PSP Year-End Preparation Checklist
Compile before your AML audit or T2 preparation deadline:
- Audited or reviewed financial statements (or compilations for smaller corporations)
- Complete general ledger reconciled to bank and payment-processor accounts
- Detailed client and transaction-fee revenue records, especially for businesses with variable monthly volumes
- Documentation of cross-border fees and currency-exchange gains or losses
- All cryptocurrency purchase, sale, and holding records if virtual assets are held or traded
- GST/HST working papers reconciling revenue to quarterly or annual filings
- Complete payroll records including gross pay, deductions, and remittance proof
- Details of all related-party transactions and intercompany charges
- Documentation of foreign ownership structure and beneficial ownership if any shareholder is non-resident
- Records of all corporate instalment payments with dates and amounts
- For PSPs: end-user fund ledgers, trust or safeguarding account statements, and shortfall-investigation records
A fractional compliance officer can help coordinate year-end preparation and ensure all tax and AML documentation is audit-ready.
What to Do After Missing a Deadline
File the outstanding return or remittance immediately. Late filing or payment incurs penalties and interest; non-filing incurs harsher consequences. Calculate the tax or remittance owing, add accrued interest at the CRA prescribed rate, and pay. Contact CRA or consult a tax professional to understand penalty options. Depending on circumstances, a taxpayer relief request or voluntary disclosure may reduce or eliminate certain penalties. Do not delay. The longer the delay, the more interest accrues and the harder remediation becomes.
Frequently Asked Questions
Is the T2 filing date the same as the corporate tax payment date?
Does every corporation need to make instalments?
How are deadlines calculated for a non-calendar year-end?
Does an inactive corporation still need to file a T2?
Which form applies: T106, T1134 or T1135?
ComplyFactor is a specialist AML and regulatory compliance advisory firm working exclusively with MSBs, PSPs, fintechs, and VASPs across Canada's FINTRAC framework. Our advisors hold CAMS certification and bring direct regulatory examination experience to every engagement.
