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Important Deadlines – 2023 Tax returns

Important deadlines: Canada & the U.S. for 2023 tax returns in 2024

Important Deadlines: 2023 Tax Returns to be filed in 2024

As the 2024 tax season approaches, taxpayers in both Canada and the United States must follow critical deadlines to ensure compliance and avoid penalties.

This year, individuals and businesses alike are preparing to file their 2023 tax returns, facing a landscape marked by evolving tax laws and potential fiscal challenges. 

Staying informed about the key filing dates, from the opening of the tax season to the final deadline for submissions, is essential for efficiently managing one’s compliance responsibilities.

Canadian Deadlines for 2023 Tax Returns

Individual Taxpayers 

For individual taxpayers, even if the deadlines are different depending on the tax residency status or self-employment, taxes still must be paid by April 30th, 2024. 

  • Residents of Canada 

Residents of Canada include both full-year and part-year residents including immigrants and emigrants. 

You may have other reporting requirements as well such as T1134, UHT-2900 or T3 and the deadlines are different for those information returns. Please scroll through to the information returns. 

The below deadlines do not include the instalment payment deadline. Please refer to your accountant’s instructions on when and how to pay instalments. Not paying instalments can bring penalties and interest. 

Electronic filing is opening on February 19, 2024.

T1 – Individual income tax return for 2023

(Including those who moved to Canada or who moved out of Canada during 2023)

2024-04-30
T1 – Individual income tax return for 2023 – For self-employed individuals and/or their spouses2024-06-17
Individuals – Income tax payment, including self-employed individuals 2024-04-30
RRSP Contribution – first 60 days of 2024 for the tax year 2023
(For emigrants, it must be 60 days from the date of emigration)
2024-02-29
  • Nonresidents of Canada 

Nonresidents must file tax returns by following the below schedule:

Section 216 income tax returns (non-residents with Canadian rental income) NR6 approved – filing deadline 2024-07-01
Section 216 income tax returns – for CCA recapture on disposed of properties 2024-04-30
Section 216 income tax returns (non-residents with Canadian rental income) – tax payment deadline 2024-04-30
Section 216.1 income tax returns (Non-Resident Actors) – filing deadline 2024-04-30
Section 216.1 income tax returns (Non-Resident Actors) – filing deadline – Self-employed 2024-07-01
Section 216.1 income tax returns (Non-Resident Actors) – tax payment deadline, including self-employed 2024-04-30
Section 217 Income tax returns – filing deadline 2024-07-01
Section 217 Income tax returns – balance owing payment2024-04-30
UHT-2900 – Underused Housing Tax Return for affected owners (Including exemptions) – filing and tax payment. For 2023 tax year.2024-04-30
*(First year relief on UHT-2900: no penalties and interest if filed for 2022 tax year and paid before 2024-04-30) 
  • Businesses – Unincorporated 

If you run an unincorporated business you generally report your income on Individual income tax return (T1). There is an automatic extension for filing tax returns until June 17, 2024. However, you must pay your taxes before April 30, 2024. If you are subject to information returns filing requirement, you must follow those deadlines. 

  • Businesses – Corporations 

Corporate income tax return – CCPC – filing from the fiscal year-end date 6 months 
Corporate income tax return – CCPC – payment due from the fiscal year-end date3 months
All other corporations – Corporate income tax return due 3 months 
All other corporations – Corporate income tax payment due 2 months 
UHT-2900 – filing and payment due 2024-04-30**
**2022 deadline was extended until April 30, 2024
GST/HST Returns, payroll source deductions, and other withheld amounts follow the corporation-specific schedule Variable 
Installments both income tax and GST/HST, follow the instructions of the tax preparer or CRA-issued scheduleVariable 
  • Information Returns 

Information Returns: T4, T4A, T5, T4A-NR2024-02-29
Information Returns: NR42024-04-02
Information Returns: T5018 (construction contract payments) – filing due date from reporting period 6 months 
T1135  – Foreign assets verification statementDue with Tax Return 
T1134 – Controlled and non-controlled foreign affiliates Within 10 months of the tax year-end 
T106 – Transfer pricing – Individuals Individual T1 deadline 
T106 – Transfer pricing – Corporations6 months after the tax year-end
RC4649 – Country-by-country report12 months after tax year-end 
  • Bare Trusts – New filing requirement

There is a new filing requirements for bare trusts. Previously bare trusts did not file the tax returns, it has changed now. A T3 must be filed by April 2, 2024.

Extensions: 

No extensions at the moment. 

U.S. Deadlines for 2023 Tax Returns 

The U.S. individual tax returns are now open for electronic filing, effective January 29, 2024.

If you are a U.S. citizen or person, you must follow the deadlines strictly as the missed deadlines can bring substantial penalties due to the foreign assets. 

The IRS and different states extend deadlines in certain situations, for example, disaster relief. Please always double check with your accountant or directly with the taxing authority before assuming any extension. 

1040 – U.S. resident aliens, citizens, and green card holders living in the U.S. to file a tax return or an extension2024-04-15
Deadline to pay taxes and file extensions (file the form to request an extension)2024-04-15
1040 – for U.S. citizens and residents, who are Canadian tax residents and abode in Canada (Verify with your tax advisor please)2024-06-17
Form 3520-A filing deadline for certain applicable trust and gift filings2024-03-15
To make treaty-based positions on form 8833Same as the tax return 
FinCen 114 FBAR Filings – default April 18th with an automatic extension2024-10-15
1040-NR filers – received U.S. wages subject to withholding 2024-04-15
1040-NR filers – did not receive U.S. wages subject to withholding 2024-06-17
1040-NR filers – extended deadline (request extension)2024-10-15
A closer connection statement for snowbirds, attach to 1040NRsame as 1040NR
Canadian corporation filing 1120F15th day of the 4th month after fiscal year end (FYE)
Canadian corporation filing 1120F, with no office or place of business (be careful, follow instructions on EIN Letter)15th day of 6th month after FYE
Form 5472 for U.S. LLCs treated as disregarded entities same as the 1120F deadline
U.S. domestic corporations – 1120 filers 15th day of the 4th month after fiscal year end (FYE)
U.S. S corporations – 1120S filers 2024-03-15
U.S. Partnerships or U.S. LLCs treated as partnerships- 1065 (for extension check with your cross-border accountant if 7004 can be filed)15th day of 3rd month 
8804, and 8805 for partnerships March 15th (extensions possible)

Please note that we may not be able to update this post with future updates or extensions. Therefore, we recommend to always check with your accountant to ensure that no deadlines are missed. 

We provide a comprehensive income tax return preparation and electronic filing for both Canada and the United States.

Fatima Aslam

Fatima Aslam

Fatima Aslam writes exclusively for Maroof HS CPA Professional Corporation and Innovation Hub on common topics related to business.

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Fatima Aslam

Fatima Aslam

Fatima Aslam writes exclusively for Maroof HS CPA Professional Corporation and Innovation Hub on common topics related to business.

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