I have been asked to consult on a very small non-profit organization and have never done one before. Form what I understand, form 1044 may need to be filed, depending on assets and income.
Are there any other requirements? A T2 would obviously need to be filed if they are incorporated or a T3 if it’s a trust. Is there ever a situation where an NPO could be structured as something other than a Corp or a trust?
Finally, I am not sure what to charge here. Would really appreciate some input.
Thanks!
You need education first.
A T2 is NOT required for non-profits. They file either a T1044 or a T3010 if it has Charity status. If it’s structured as a trust, a T3 is filed.
Be careful not to bite off more than you can chew as filing the wrong forms can cost them their status.
Personally, I do not do non-profits, and know absolutely nothing about them, and would definitely refer a potential engagement to others…
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However, a cursory reading of Guide T4012 (see page 9) informs thus:
"Who has to file a T2 return? Resident corporations All corporations—including non-profit organizations, tax-exempt corporations, and inactive corporations—have to file a T2 return for every tax year, even if there is no tax payable. The only exceptions to this rule are tax-exempt Crown corporations, Hutterite colonies, and corporations that were registered charities throughout the year."
Thanks for your feedback. I agree, not good to bite off more than I can chew. This NPO is federally incorporated and definitely requires a T2 to be filed, although exempt from Part 1 tax. Out of curiosity @joe.justjoe1, why don’t you do Non-profits?
I am also dealing with a NPO at the moment. I happen to be a part of the NPO, so I have been requested to handle the T2 return. Does S50 need to be filled out? There are no shareholders so whose information goes on it?
Also, when the NPO was incorporated back in 2024, they did it federally and never registered it interprovincially (Alberta). Does it have to be registered interprovincially or you can go without it?
