2016-12-01 00:00:00 Taxes English Learn some frequent reasons for closing a GST/HST account and how to do it by contacting the Canada Revenue Agency. Accounting Tips: Closing Your GST/HST Account

Accounting Tips: Closing Your GST/HST Account

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There are several good reasons for closing a GST/HST account. For example, you may have decided to sell or close your business. You could also have stopped making sufficient taxable supplies and become a small supplier that does not need to be registered. Finally, if a sole proprietor or a partner in a partnership has passed away, the executors will need to close the account.

In any of these cases, it is important to close the account with the Canada Revenue Agency to avoid having to file returns or having the account become delinquent. To close an account, you can phone the Canada Revenue Agency at 1-800-959-5525 or complete and return Form RC145, Request to Close Business Number (BN) Program Accounts.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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