Form T5SUM Return of Investment Income - Canada (English / French)

Form T5SUM Return of Investment Income is used in Canada to report and summarize income earned from investments, such as interest, dividends, and royalties. It is filed by financial institutions and must be completed in English or French.

The Form T5SUM Return of Investment Income in Canada is typically filed by banks and other financial institutions that pay interest or other investment income to individuals or corporations.

FAQ

Q: What is a T5SUM?
A: T5SUM is a return form used in Canada to report investment income.

Q: Who needs to file a T5SUM?
A: Anyone who paid investment income to a resident of Canada needs to file a T5SUM.

Q: What types of income are reported on a T5SUM?
A: Income from dividends, interest, royalties, pensions, and other investments are reported on a T5SUM.

Q: When is the deadline to file a T5SUM?
A: The deadline to file a T5SUM is usually February 28th of the following year, or March 1st if the 28th falls on a weekend.

Q: Are there penalties for not filing a T5SUM?
A: Yes, there can be penalties for not filing a T5SUM or for filing it late. It's important to file on time to avoid any penalties.

Q: Do I need to include supporting documents with my T5SUM?
A: You may need to include supporting documents, such as information slips or receipts, depending on the type of income being reported.

Q: Can I make corrections to a filed T5SUM?
A: Yes, you can make corrections to a filed T5SUM by filling out and submitting an amended T5SUM form.