Form RC359 Tax on Excess Employees Profit Sharing Plan Amounts - Canada

Form RC359 is used in Canada to calculate and report the tax on excess employee profit sharing plan amounts. It helps individuals ensure they pay the correct amount of tax on any excess contributions to their profit sharing plan.

The employer files the Form RC359 Tax on Excess Employees Profit Sharing Plan Amounts in Canada.

FAQ

Q: What is Form RC359?
A: Form RC359 is a tax form in Canada.

Q: What does Form RC359 apply to?
A: Form RC359 applies to Excess Employees Profit Sharing Plan Amounts.

Q: What is an Excess Employees Profit Sharing Plan?
A: An Excess Employees Profit Sharing Plan is a type of employee benefit plan in Canada.

Q: Who needs to file Form RC359?
A: Employers who have an Excess Employees Profit Sharing Plan need to file Form RC359.

Q: What information is required on Form RC359?
A: Form RC359 requires information regarding the Excess Employees Profit Sharing Plan, including the excess amounts and the employees involved.

Q: When is the deadline for filing Form RC359?
A: The deadline for filing Form RC359 is determined by the Canada Revenue Agency.