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This version of the form is not currently in use and is provided for reference only. Download this version of
Form RC7220-1
for the current year.
Form RC7220-1 Notice of Revocation of an Election for Gst / Hst and Qst Reporting Period by a Selected Listed Financial Institution - Canada
The selected listed financial institution itself files the Form RC7220-1 Notice of Revocation of an Election for GST/HST and QST Reporting Period in Canada.
FAQ
Q: What is Form RC7220-1?
A: Form RC7220-1 is the Notice of Revocation of an Election for GST/HST and QST Reporting Period by a Selected Listed Financial Institution in Canada.
Q: Who needs to file Form RC7220-1?
A: Selected Listed Financial Institutions in Canada need to file Form RC7220-1 to revoke their election for GST/HST and QST reporting periods.
Q: What is the purpose of Form RC7220-1?
A: The purpose of Form RC7220-1 is to notify the tax authorities about the revocation of the election for GST/HST and QST reporting periods by a Selected Listed Financial Institution.
Q: Is Form RC7220-1 specific to Canada?
A: Yes, Form RC7220-1 is specific to Canada and is used by Canadian Selected Listed Financial Institutions.
Q: Is assistance available for filling out Form RC7220-1?
A: Yes, the Canada Revenue Agency provides resources and assistance to help individuals and businesses with filling out their tax forms, including Form RC7220-1.
Q: What happens after filing Form RC7220-1?
A: Once Form RC7220-1 is filed, the CRA will process the revocation of the election for GST/HST and QST reporting periods for the Selected Listed Financial Institution.
Q: Are there any penalties for not filing Form RC7220-1?
A: Failure to file Form RC7220-1 within the specified deadline may result in penalties and interest charges imposed by the Canada Revenue Agency.
Download Form RC7220-1 Notice of Revocation of an Election for Gst / Hst and Qst Reporting Period by a Selected Listed Financial Institution - Canada
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