Retirement
Compensation Arrangement (RCA)
Service Package for
Administration Services
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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:
Amount
of Annual Fees
The
annual fee under the Westcoast
Actuaries Inc. "RCA Service Package"
is the same as our standard annual fee for a one person IPP in B.C.
The 2009 fee is $865 plus GST.
Payment
of Annual Fees
The
fee for the first year is payable when the client requests RCA implementation.
Fees
for subsequent years are payable each February 1st.
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 Agreement
Ø
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 $50
per additional remittance.
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