New 2020 CRA T4 reporting requirements

New 2020 CRA T4 reporting requirements

As per CRA’s latest requirements, employers must report the income of employees for pay dates falling March 15 - September 26, 2020 on their T4 Slips or Statement of Remuneration Paid. CRA will use this data to validate eligibility of benefits for individuals under the Canadian government Covid-19 relief programs including; CERB, CESB, CEWS.

For the tax year 2020, CRA requires the use of following codes to report employment income for pay dates the following periods:
  1. Code 57: Employment income – March 15 to May 9
  2. Code 58: Employment income – May 10 to July 4
  3. Code 59: Employment income – July 5 to August 29
  4. Code 60: Employment income – August 30 to September 26
The amounts will be calculated by the system using the Pay Date of the Rise Pay Runs that fall into the different ranges. The boxes appear in the Other information section at the bottom of the T4.

If you processed Rise Payroll January 01 - December 31 2020: Employee  Code 57 - 60 amounts will be calculated by the system using the Pay Date of the Rise Pay Runs that fall into the different ranges.

If you processed Rise Payroll for a portion of 2020: You will need to request the relevant Code 57 - 60 information from your previous payroll provider for pay dates processed outside of Rise. When the data is received you will then manually update the relevant Code 57 - 60 information for each employee. If a Code includes pay dates from both your previous payroll provider and Rise, the two pay date amounts should be added and reported under the relevant Code. Please contact our to submit a request for your ‘2020 Wages Paid T4 Box 57- 60’ report with the subject line: 2020 Wages Paid T4 box 57-60 Report Request.
For additional information regarding CRA 2020 Tax Form Changes, please check this article.

Once you’ve received your report follow these instructions on how to create an amended T4.  

How to create an amended T4

1. Create an Amended 2020 T4 Run.

2. Click Download CSV Tax form data to download the CSV file.

3. Next, open the CSV file and enter employee Code 57 - 60 T4 box information from the 2020 Wages Paid T4 box 57-60 report. Save the file as a CSV file.

4. Click Upload CSV Tax Form Data, and click Choose File. Select your file and click Upload.

5. Review 2020 T4 employee Code 57 -60 information and ensure it balances to the 2020 Wages Paid T4 box 57-60 data.

6. Approve 2020 T4 Amended tax forms.

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