What is Form CPT20?
Form CPT20, Election to Pay Canada Pension Plan Contributions, is designed for individuals seeking to make additional contributions to their Canada Pension Plan (CPP). This form is particularly relevant for self-employed individuals or those whose employment earnings don't fully meet CPP contribution requirements. By completing Form CPT20, individuals can enhance their retirement benefits by ensuring they are maximizing their CPP contributions, ultimately leading to a more secure financial future.
What is Form CPT20 used for?
Form CPT20 is important for managing your Canada Pension Plan contributions. Here’s what it’s used for:
- Additional Contributions: Make extra CPP contributions on your employment income.
- Catch-Up Contributions: Pay both your share and your employer's share if previous deductions were missed.
- Self-Employed Income: Contribute on self-employment income when deductions weren't taken.
- Back Contributions: Pay CPP contributions on past employment income without deductions.
How to fill out Form CPT20?
- 1
Provide Your Details: Enter your identification details, including your name, initials, SIN, mailing address, and date of birth.
- 2
Fill Out Part A: Include the details of your employment.
- 3
Check Eligibility: Answer the questions in Part B to confirm your eligibility for contributions.
- 4
Make Election: Complete Part C to indicate your intention to make CPP contributions.
- 5
Download: Once finished, click Done to download your completed form.
Who is required to fill out Form CPT20?
Form CPT20 is completed by employees wishing to make additional Canada Pension Plan contributions on their employment income. This form is required for those seeking to qualify for a higher CPP benefit in retirement.
After filling out Form CPT20, employees will submit it to the Canada Revenue Agency along with their contributions, either with their paper return or separately.
When is Form CPT20 not required?
You do not need Form CPT20 in several cases: If you work for one employer with earnings over $3,500, if your employer does not withhold CPP or QPP, or if you work outside Canada for a Canadian employer not covering CPP. Additionally, you don't need it for agricultural jobs, casual work outside the employer's trade, government jobs under 35 hours, self-employment on a reserve, or multiple contracts exceeding the exemption limit.
When is Form CPT20 due?
You can submit Form CPT20 whenever you decide to make additional Canada Pension Plan contributions on your employment income. Although there is no fixed submission deadline, it's recommended to complete and send the form as soon as you've made that decision. Forms for different years, including 2025, are available.
Please note: To be eligible, you must file your election no later than June 15, 2026, and pay any required contributions by April 30, 2026. Submit a completed copy of the form either with your paper tax return or separately to the Canada Revenue Agency.
How to get a blank Form CPT20?
To get a blank Form CPT20, simply visit our platform where the Canada Revenue Agency (CRA) issues it. We have a pre-loaded version of the form ready for you to fill out. Remember, our PDF Guru website helps with filling and downloading, but not filing forms.
How to sign Form CPT20 online?
To sign Form CPT20, you can create a handwritten signature or an electronic one using PDF Guru, which is recognized for forms that accept them. Remember, this isn't the same as a digital signature, which has greater legal standing. After filling out the form, download it for your records. It's essential to check for the latest updates regarding signature requirements to ensure compliance. Keep in mind that PDF Guru does not support form submission.
Where to file Form CPT20?
To submit Form CPT20, send the original completed form to your tax centre. Make sure to keep a copy for your records. You can also submit the form electronically.
If you have multiple employers, provide a copy of the form to each one. Note that this form cannot be filed online through the CRA.
