Filing your Information Returns for your business part 2: The RZ Account Number

by in Calgary Tax Saving for Business
An account number consists of 15 characters in 3 parts:

  • the 9 digit Business Number (BN):  123456789

  • a 2 letter program identifier:  RZ

  • a 4 digit reference number :  0001

Each business or legal entity should have one Business Number or BN.  The program identifier and reference number identify the account. 

As mentioned on my last blog entry, the RZ account number must be used to file your T5, T5007, T5008 and RRSP Contribution Receipts information returns.  For the T5013, T5018 or the new TFSA Annual Information Return, a dedicated RZ account number is required for each return type. 

The RZ account number is created automatically by the File Identification Number (FIN) to Business Number (BN) conversion process.  The CRA automatically converts your FIN if you have filed a T5, T5007, T5008 or the RRSP Contribution Receipts Information return in 2008 or 2009.  A successful conversion will result in the addition of an RZ account number to your existing Business Number.

Your new RZ account number should have been mailed to you before the end of 2009.  If you have not received it, contact the CRA immediately.  If, however, you have received your new RZ account number but are no longer required to file any of the information returns mentioned, you can call the CRA to have your account closed. 

If you have an accountant or a representative, do not forget to inform them of your new RZ account number to avoid any future discrepancies with your account information. 

Please note that the if you will be filing a TFSA  return, you are not part of this automatic conversion.  You can visit the CRA website to get more info on how to go about filing your TFSA Annual Information Return. 

For more information on Business Numbers and the RZ account numbers, please visit the CRA website.
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