Blank Rc145 E PDF Template

1. What is the purpose of the RC145 E form?

   The RC145 E form is designed for businesses that need to close or cancel one or more of their Business Number (BN) program accounts with the Canada Revenue Agency (CRA). These accounts can include those for GST/HST (RT program accounts), payroll deductions (RP program accounts), corporation income tax (RC program account), and information returns (RZ program account). The form serves as a formal request to terminate these accounts.

2. When should you not use the RC145 E form?

   You should avoid using this form if your business is a selected listed financial institution (SLFI) for GST/HST or Quebec sales tax (QST) purposes or both. Additionally, if you possess an RT program account that includes QST information, this form is not applicable. In such cases, the RC7345 form is more appropriate. The RC145 E form is specifically for businesses not falling under these categories.

3. How can you submit the RC145 E form?

   Businesses looking to close their CRA program accounts traditionally would mail the completed RC145 E form to the appropriate tax centre. Currently, the form can also be submitted through My Business Account for online convenience. Representatives authorized to act on behalf of the business can utilize the Represent a Client service to submit the form online as well.

4. What information is needed to complete the RC145 E form?

   To effectively fill out the RC145 E form, you will need your business name, business number, mailing address, and information specific to each CRA program account you wish to close. This includes ticking boxes or filling in account numbers for RT, RP, RC, and RZ program accounts and specifying the reason and date for each account's closure.

5. What are the certification requirements for the RC145 E form?

   The individual signing the RC145 E form must have signing authority for the business. This could be an owner, corporate officer, authorized representative, partner, officer of a non-profit organization, individual with delegated authority, corporate director, trustee, or legal representative. It's crucial to ensure that the signer's name matches the one in CRA's records to avoid processing delays.

6. What should you do after submitting the RC145 E form?

   After submitting the form, it's essential to remain diligent in completing any necessary returns, remittances, or balances owing up to and including the cancellation date for each program account. If you have transferred business assets to another GST/HST registrant, ensure to check if you're eligible for any elections that could affect your GST/HST obligations. Finally, always confirm with CRA to ensure the closures have been processed correctly.

When completing the RC145 E form, "Request to Close Business Number Program Accounts," individuals often make several mistakes that can lead to processing delays or even the rejection of their request. By understanding these common errors, you can ensure that the form is filled out correctly and efficiently, thereby facilitating a smoother process in closing your CRA program accounts.

1. Not using the appropriate form: Individuals sometimes use the RC145 E form when it's not applicable to their situation. For instance, if you are a selected listed financial institution (SLFI) for GST/HST or QST purposes, or if you have an RT program account that includes QST information, a different form (RC7345) should be used. Always verify that the RC145 E form is the correct document for your specific circumstances.

2. Incomplete business information: Part A of the form requires detailed business information, including the legal name, business number, mailing address, city, province/territory, and postal code. Failing to provide complete and accurate information in this section can result in the CRA being unable to process the form. It's crucial to double-check that all data entered matches the records held by the CRA.

3. Incorrect cancellation or closing dates: Sections B through E ask for cancellation or closing dates for different types of accounts (RT, RP, RC, and RZ). A common mistake is providing a date that does not conform to the requirements (e.g., not using the day after the last day of a fiscal year for RT program accounts if you are a small supplier not required to be registered for GST/HST purposes). Understanding the specific date requirements for each account type and complying with them is essential.

4. Failure to sign or misidentification of the signer: Part F of the form requires the signature of an individual with signing authority for the business, as well as their title, and contact information. A common oversight is the submission of the form without a signature or with the name of an individual who does not match the CRA's records for individuals authorized to act on behalf of the business. Ensuring that the signer is correctly identified and authorized, and that their name matches the CRA's records, is important for the form to be processed.

By avoiding these common mistakes, businesses can ensure a smoother and more efficient process in closing their CRA program accounts. Attention to detail and a thorough review of the form before submission can prevent unnecessary delays.

When closing or canceling business program accounts with the Canada Revenue Agency (CRA), utilizing the RC145 E form, several additional documents often become necessary to ensure a comprehensive approach to wrapping up fiscal responsibilities. These documents either complement the closure process by offering detailed information required by the CRA or serve to fulfill related obligations that arise from account closures. Below is a list of documents often used in tandem with the RC145 E form, described briefly for your understanding.

• Articles of Dissolution: This document is crucial for corporations officially dissolving their entity. It marks the legal end of a corporation's existence and is usually required when closing RC program accounts for corporate income tax.
• GST44 Election Concerning the Acquisition of a Business or Part of a Business: This form is used when a business is transferring its assets to another GST/HST registrant. It allows the supply of the business, or part of it, without the application of GST/HST.
• T4 Slips and T4 Summary: Essential for businesses closing their RP program accounts for payroll deductions, these documents report the final remuneration paid to employees, including all deductions made.
• Certificate of Dissolution or Letters Patent of Dissolution: Similar to the Articles of Dissolution, these documents formally recognize the dissolution of corporations not federally incorporated but based in provinces not partnered with the CRA for business account closures.
• GST/HST Memorandum 2.7, Cancellation of Registration: Offers detailed guidance on the rules for GST/HST cancellation of registration, relevant for businesses needing to understand their GST/HST obligations upon account cancellation.
• Financial Statements: While not a specific CRA form, comprehensive final financial statements are often necessary to ensure all fiscal responsibilities are met and properly documented during the closure process.
• RC7345, Request to Close Business Number Program Accounts for Certain Selected Listed Financial Institutions: This is a specialized form used in place of the RC145 E form for selected listed financial institutions that need to close their accounts.
• Copies of Tax Returns Up to Closure: Businesses are required to ensure all relevant tax returns are filed up to the date of dissolution, closure, or cancellation of their accounts, indicating financial activities until the end of their operations.

Understanding and gathering these documents is a critical step that accompanies the use of the RC145 E form, aiding businesses in fulfilling their final tax obligations to the Canada Revenue Agency. This process, while seemingly complex, is essential for the orderly conclusion of business operations and helps prevent future legal or financial complications arising from unresolved tax matters.

• The RC7345, Request to Close Business Number Program Accounts for Certain Selected Listed Financial Institutions, is akin to the RC145 form due to its purpose of facilitating the closure of program accounts. However, the RC7345 is specifically designed for selected listed financial institutions that are involved with goods and services tax/harmonized sales tax (GST/HST) or Quebec sales tax (QST), indicating its specialized use case compared to the broader application of the RC145.

• The GST44, Election Concerning the Acquisition of a Business or Part of a Business, shares similarities with the RC145 in that both deal with changes in business status concerning GST/HST. While the RC145 is used to close accounts, the GST44 is utilized during the acquisition of a business or a part of it, potentially affecting the GST/HST registration status or obligations of the business involved.

• Forms related to the T4 Summary and T4 Slips submission process are somewhat parallel to the RC145, particularly in the context of closing RP program accounts for payroll deductions. When a business decides to close its RP account using the RC145, it must also ensure compliance with payroll reporting obligations by submitting necessary T4 slips and summaries, highlighting a procedural link between these documents.

• Documentation required for the dissolution of a corporation, such as the certificate of dissolution or letters patent of dissolution, interacts closely with the RC145’s Part D, which is aimed at closing RC program accounts for corporation income tax. While the RC145 facilitates the request to close these accounts, the dissolution certificates serve as necessary legal documentation to confirm the termination or closing of the corporation itself, making them complementary in the dissolution process.

When completing the RC145 E form, a Request to Close Business Number Program Accounts with the Canada Revenue Agency (CRA), there are several important dos and don'ts to keep in mind to ensure that the process goes smoothly and effectively. Below are seven key points:

• Do ensure that you have the authority to close the account. Only individuals with signing authority, such as an owner, a corporate officer, or an authorized representative, can legally sign off on the form.
• Don't use this form if your business is a selected listed financial institution (SLFI) for GST/HST or QST purposes. In such cases, a different form, RC7345, is required.
• Do accurately complete all required sections, including Business Information (Part A), and the specific program account sections (Parts B, C, D, and E) that you wish to close.
• Don't leave out any relevant financial information. If you are closing a GST/HST account (RT), payroll deductions account (RP), corporation income tax account (RC), or an information return account (RZ), you must provide all necessary details, including the reason for account closure and the closure date.
• Do check that all provided information matches the records held by the CRA. This includes your business number, legal name, mailing address, and the name of the individual with signing authority.
• Don't forget to submit any outstanding returns, remittances, or balances owing prior to the account closure. These obligations do not cease until the closure date you've provided on the form.
• Do send the completed form to the appropriate tax center within six months of signing and dating it to ensure timely processing. The addresses for the Prince Edward Island Tax Centre and the Sudbury Tax Centre are provided on the form.

By following these dos and don'ts, you can more effectively manage the closure of CRA program accounts, ensuring compliance with the necessary regulations and minimizing potential complications. Remember, accurate and complete information is key to a smooth process.

When it comes to understanding the RC145 E form for closing business number program accounts, several misconceptions can lead to confusion. Let's clear up some of these misunderstandings:

• Online Closure is the Only Option: Many believe that the only way to close CRA program accounts is online through My Business Account or Represent a Client. The RC145 E form provides an alternative for those who prefer or need to submit their request on paper.
• Applies to All Business Structures: Some think this form is suitable for all types of businesses. However, selected listed financial institutions, due to their specific GST/HST and QST requirements, must use a different form, the RC7345.
• One Form Closes All Accounts: There's a misconception that submitting an RC145 E form will close all accounts associated with a business number. In reality, you need to specify each program account (e.g., GST/HST, payroll deductions) you wish to close.
• No Obligations After Form Submission: Some assume once the form is submitted, there are no further obligations. But, businesses must send any remaining returns, remittances, or balances owing up to the cancellation date.
• Immediate Processing and Account Closure: The belief that accounts are closed immediately upon submission is incorrect. Processing takes time, and businesses should wait for confirmation from the CRA.
• Can Be Used for Amalgamations or Acquisitions: The RC145 E form is not intended for corporations that are amalgamating or being acquired. There are specific processes for these situations.
• All Businesses Must Use the Form to Dissolve: If your corporation was incorporated federally or in a province with a CRA partnership, the corporate income tax account closes automatically when the incorporating authority notifies the CRA. No form is required in these cases.
• No Need to File a Final Tax Return: Regardless of closing accounts with this form, corporations must file a return up to the date of dissolution.
• Personal Information Is Unprotected: Some worry about the safety of their information. The form clearly states that personal information is protected under the Privacy Act, collected solely for administrative purposes, and can lead to legal action if not provided.
• Signature Requirements Are Flexible: There's a false belief that anyone can sign the form. Only individuals with signing authority, such as owners, corporate officers, or authorized representatives, can sign the RC145 E form, ensuring security and proper authorization.

Understanding these aspects of the RC145 E form can help ensure a smooth process when closing your CRA program accounts.

When it comes to handling the intricacies of the RC145 E form, businesses have a structured path to follow for closing their CRA program accounts. This document is essential if you're looking to shut down one or several business number (BN) program accounts, ensuring all fiscal responsibilities are tidily concluded.

• Online Options: Before diving into paper forms, businesses and their representatives can utilize digital avenues to close CRA program accounts. The CRA's My Business Account and Represent a Client platforms offer streamlined, user-friendly ways to accomplish this task.

• Businesses that are specified as selected listed financial institutions (SLFIs) for GST/HST and/or QST purposes have a different route. The RC145 E form is not suitable for them; instead, they need to use form RC7345 for their specific requirements.

• Requirement for Specific Business Information: The form requests detailed business information, which is a reminder of the need for accurate and up-to-date data when interacting with regulatory bodies.

• Cancelling RT program accounts for GST/HST necessitates not just indicating which accounts to close but also providing reasons for the cancellations alongside the specific closure dates.

• For those businesses deemed small suppliers and thereby not required to register for GST/HST, the cancellation date aligns with fiscal year-end schedules — a detail that showcases the CRA's consideration for business operational structures.

• Final GST/HST Remittances: If assets are held for commercial activities upon deregistration, businesses must account for GST/HST on these at fair market value, underlining the importance of understanding tax obligations during closure processes.

• For payroll deductions (RP program accounts), the form underscores the necessity to remit deductions and submit T4 slips and summaries within specified timeframes, stressing punctuality in fulfilling end-of-business tax obligations.

• Closing corporate income tax accounts (RC program) varies by the business's incorporating authority, illustrating the interconnectedness of various regulatory and administrative bodies in business operations.

• The form's certification part emphasizes the importance of having the proper authority to submit such requests. This calls attention to organizational governance and the need for clarity on who can make legally binding decisions for a business.

• Timeliness and Accuracy: Finally, the RC145 E form highlights the critical nature of timely submission—within six months of signing—and the necessity of accuracy in the provided information to avoid processing delays and potential complications.

In conclusion, the careful closure of CRA program accounts through the RC145 E form is an integral step for businesses ending operations. It reflects a broader responsibility to comply with Canadian tax laws and regulations, ensuring all financial obligations are met accordingly.