EMPLOYEE PROFIT SHARING PLAN TRUST

REPORTING REQUIREMENTS

Unlike a family trust which must file its own tax return, there is no trust tax return to be filed for an EPSP trust. All allocated profits are reported by the employees and taxable in their hands. The EPSP trust is not a taxable entity. Allocations to employees from an EPSP trust are summarized and reported to Revenue Canada on T4PS Summary forms. Amounts typically allocated include employer contributions in the year and any amounts earned by the plan from property retained and not distributed to employees from prior years contributions.

For more information on our corporation and our products, please contact:
R. Paul Jacobson, Q.C. Director
The Fiscal Planning Corporation
Suite 2600, 144 - 4th Avenue S.W., Calgary, Alberta, Canada T2P 3N4
Telephone: (403) 210-0278
email: jake@fiscalplanning.com