RL-2 Slip - Statement of Retirement and Annuity Income

(Associated with the T4A, T4RIF and T4RSP slips)

Presentation

The RL-2 slip is used primarily for reporting retirement and annuity income. A section of the slip is also reserved for reporting Québec income tax withheld at source from certain amounts reported on the slip.

It should be noted that the value of the taxable benefit received by a retired employee with respect to the coverage provided under certain plans providing insurance of persons (such as a private health services plan or a life insurance plan) is reported on the RL-1 slip instead.

Persons Required to File the RL-2 slip

Payers of retirement benefits or annuities

If you are a payer of retirement benefits or annuities, you must file RL-2 slips to report amounts paid during the year to persons who were resident in Québec on December 31 of the year concerned, or who were resident in Québec immediately before ceasing to reside in Canada during the year concerned. You must also use the slip to report amounts respecting which you made source deductions.

The RL-2 slip must also be filed with respect to payments made to an employer under the terms of a pension plan, further to the amendment or winding-up of the plan.

Issuers of registered retirement savings plans (RRSPs) or registered retirement income funds (RRIFs)

The issuer of an RRSP or a RRIF must file RL-2 slips to report amounts paid during the year to persons who were resident in Québec on December 31 of the year concerned, or who were resident in Québec immediately before ceasing to reside in Canada during the year concerned. The issuer must also report any amount paid on which tax was withheld.

The issuer of an RRSP or a RRIF must report any benefit that a person resident in Québec is deemed to have received immediately prior to his or her death and amounts that are taxable further to the amendment of the RRSP or RRIF.

In addition the issuer of an RRSP or a RRIF must report any amount that relate to a transaction or activity involving the property of the RRSP or RRIF, and that a person resident in Québec is required to include in the calculation of his or her income pursuant to section 932, 933, 961.18 or 961.19 of the Taxation Act, or may deduct in the calculation of his or her income pursuant to section 926, 928, 961.20 or 961.21 of the Act.

Pooled registered pension plan (PRPP) or voluntary retirement savings plan (VRSP) administrator

As a PRPP or VRSP administrator, you must report any amount paid in a year to a person who resided in Québec on December 31 of that year, or who resided in Québec immediately before ceasing to reside in Canada during the year in question. You are also required to report any amount paid on which you withheld tax at source.

Payers of income-averaging annuities

If you are licensed or otherwise authorized under the laws of Canada or of a province to carry on an annuities business, or to offer trustee services in Canada or in a province, you must file RL-2 slips to report

amounts you paid during the year to persons who were resident in Québec on December 31 of the year concerned, or who were resident in Québec immediately before ceasing to reside in Canada during the year concerned. Such amounts include the proceeds of the surrender, cancellation, redemption, sale or other disposition of an income-averaging annuity contract;
amounts you are deemed to have paid to such persons as the proceeds of disposition of an income-averaging annuity contract, and amounts respecting which you made source deductions.

Trustees of a deferred profit-sharing plan (DPSP)

If you are the trustee of a deferred profit-sharing plan (DPSP), you must file RL-2 slips to report the amounts paid under the plan (including a plan whose registration has been revoked) during the year to a person who was resident in Québec on December 31 of the year concerned, or who was resident in Québec immediately before ceasing to reside in Canada during the year concerned. You must also use the RL-2 slip to report amounts respecting which you made source deductions.

Distributions of Copies and Filing Deadline

Copy 1

Copy 1 of each RL-2 slip must be sent to the Québec or Montréal office of Revenu Québec by the last day of February of the year following the year indicated on the slips. To facilitate processing, please submit copy 1 in pages of three slips (i.e., detach each page, but do not separate the individual slips).

If you submit the required data to Revenu Québec over the Internet, you are not required to submit copy 1 of the slips.

Copy 2

You must remit copy 2 of the RL-2 slips to the beneficiaries by the deadline specified for copy 1.

Copy 3

This copy is kept by the issuer.

A taxpayer who ceases to operate a business must file the RL-2 slips within 30 days after the date on which the business ceases operations.

Penalties are imposed when copy 2 of the RL-2 slip is late-filed.

Amendment or cancellation

To amend an RL-2 slip that that has already been submitted to Revenu Québec, an amended RL slip must be filed with the “Amended” note. On the new RL slip, enter the number in the upper-right corner of the slip that you want to amend.

To cancel an RL-2 slip, send a photocopy of the original RL slip with the “Cancelled” note. Make sure that the number indicated in the upper-right corner of the slip is legible on the photocopy.

Recipient Identification

Make sure the individual's legal last name is the same as that shown on his or her social insurance card.

Individuals are obliged to provide their SIN while the issuer is obliged to make a reasonable effort to obtain the number. Failure to indicate the number may result in a penalty.

“Provenance des revenus” box

In this box, enter one of the abbreviations listed below. If none apply, enter “Other” in the notes, along with the nature of the plan. A separate slip must be used for each source of income. However, the amounts paid under a registered pension plan and a unregistered pension plan can be reported on the same slip:

FERR-A	Insured registered retirement income fund ("fonds enregistré de revenu de retraite assuré");
FERR-D	Depositary registered retirement income fund ("fonds enregistré de revenu de retraite dépositaire");
FERR-F	Trusteed registered retirement income fund ("fonds enregistré de revenu de retraite fiduciaire");
RAP	Home Buyers' Plan ("Régime d'accession à la propriété")
RE	Income-averaging annuity ("rente d'étalement");
REEP	Lifelong Learning Plan ("régime d'encouragement à l'éducation permanente")
REER-A	Insured registered retirement savings plan ("régime enregistré d'épargne-retraite assuré");
REER-D	Depositary registered retirement savings plan ("régime enregistré d'épargne retraite dépositaire");
REER-F	Trusteed registered retirement savings plan ("régime enregistré d'épargne-retraite fiduciaire");
REPA	Income-averaging annuity for artists ("rente d'étalement pour artiste");
RO	Ordinary annuity ("rente ordinaire");
RPA	Registered pension plan ("régime de pension agréé");
RPDB	Deferred profit-sharing plan ("régime de participation différée aux bénéfices")
RPNA	Unregistered pension plan ("régime de pension non agréé");
RRQ	Quebec Pension Plan ("Régime de rentes du Quebec");

As a rule, a RRIF or an RRSP is considered to be:

insured if the contract is with an insurance corporation;
depositary if, under the terms of the arrangement, an amount was paid as a deposit to a branch or office (located in Canada) of a financial institution;
trusteed if a trust is governed by the fund or plan.

Description of the boxes

For information on how to report amounts subject to an RL-2 slip, consult the Guide to Filing the RL-2 Slip.