Information Return for Tax-Exempt Entities

Regardless of whether it is a corporation, an NPO must file either form TP-997.1-V, Information Return for Tax-Exempt Entities, or Part 3 of form CO-17.SP, Déclaration de revenus et de renseignements des sociétés sans but lucratif; (see courtesy translation CO-17.SP-T) if it meets any of the following conditions:

  • The total of the NPO's taxable dividends, or of the amounts received or receivable by the NPO as interest, rentals or royalties, exceed $10,000 for the fiscal period concerned.
  • The total value of the NPO's assets at the end of the fiscal period preceding the period concerned was over $200,000.
  • The NPO was required to file form TP-997.1-V or complete Part 3 of form CO-17.SP for a fiscal period preceding the period concerned.

ABC is an NPO that is not a corporation. In 2013, the value of ABC's assets was $215,000, and its rental income was $5,000. At the end of the following fiscal period, the value of its assets was $160,000 and its rental income was $2,500.

Since ABC's assets for 2013 were over $200,000, it must file an information return for tax-exempt entities for 2014 and all subsequent years.

Entities required to file an information return for tax-exempt entities

The following tax-exempt entities are required to file this return:

  • an agricultural organization 
  • a chamber of commerce 
  • a corporation, club, society or association that was established and administered exclusively for non-profit purposes and that, in the opinion of the Minister, is not a registered charity
  • If the NPO normally files form CO-17.SP, it must complete Part 3 of that form.
  • If the NPO files form CO-17, Déclaration de revenus des sociétés (see courtesy translation CO-17-T), it must use form TP-997.1-V.

NPOs must file the applicable form within six months after the end of their fiscal period.

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