Retirement Compensation Arrangement (RCA)
Service Package for Administration Services
Westcoast Actuaries Inc. offers an attractive and convenient “RCA Service Package”, which is a flat annual fee arrangement for for all administration services necessary to implement and maintain an RCA on an on-going basis. Please refer to the following sections for details:
The annual fee under the Westcoast Actuaries Inc. "RCA Service Package" is $650 plus GST for 2010.
An implementation fee equal to the current year's annual fee is payable when the client requests RCA implementation.
Annual fees for subsequent years are payable each May 1st of the following year. (e.g., the annual fee for 2010 is due May 1, 2011.)
Services Covered by Annual Fees
The services covered by the Westcoast Actuaries Inc. “RCA Service Package” for Administration Services are as follows:
Plan Implementation
Ø Prepare the following documents:
o Canada Revenue Agency (“CRA”) Application for a RCA Account
Number form (T733 Form).
o RCA Plan Text
o RCA Trust AgreementØ Remit 50% refundable tax on initial contribution to RCA.
Annual Administration
Ø Remit 50% refundable tax on Company contributions to Canada Revenue Agency.
Ø Remit withholding taxes on distributions (payments) from RCA.
Ø Prepare and file T3-RCA tax returns and remit refundable tax, if any, on investment income to Canada Revenue Agency after end of year.
Ø Prepare T735 – Application for a Remittance Number for Tax Withheld from a RCA and file with Canada Revenue Agency at benefit commencement.
Ø Prepare and file T737 RCA Summary and Supplementary to report Company contributions.Ø Prepare and file T4A RCA to report benefits paid to RCA member.
Additional Fees
Please note that our annual fee covers a once per year remittance of refundable tax on contribution, and a once per year remittance of withholding tax on distribution.Additional remittances will be invoiced on a fee-for-service basis of $30 per additional remittance.