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:
Amount
of Annual Fees
The
annual fee under the Westcoast
Actuaries Inc. "RCA Service Package"
is $685 plus tax for 2012, an increase of 3% from 2011.
Payment
of Annual Fees
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 2012
is due May 1, 2013.)
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 $30 per additional remittance.
