• FP-671 - Notification of fiscal quarters and fiscal months and application for approval to extend or shorten fiscal months

Notification of fiscal months

GST/HST and QST registrants can elect to use fiscal periods that do not correspond to calendar quarters or months. If they do, they must notify Revenu Québec of the start and end dates of the periods on or before the first day of every fiscal year. New registrants must notify Revenu Québec by the later of the following dates: the date their registration application was filed (or should have been filed) or the effective date of registration. If the aforementioned information is not provided, or if it does not meet the prescribed requirements, Revenu Québec will assign fiscal periods that correspond to calendar months or quarters.

Note

There cannot be more than four fiscal quarters in a fiscal year. The first fiscal quarter in a fiscal year begins on the first day of the fiscal year; the last fiscal quarter ends on the last day of the fiscal year. A fiscal quarter cannot be longer than 119 days and, except for the first and last quarters of the fiscal year, cannot be shorter than 84 days.

The first month in a fiscal quarter begins on the first day of the fiscal quarter; the last fiscal month ends on the last day of the last fiscal quarter. Fiscal months must be between 28 and 35 days long. Only the first and last fiscal months can be shorter than 28 days.

Application for approval to extend or shorten fiscal months

To use fiscal months or fiscal quarters that are longer or shorter than what is prescribed by law (see Part 3), you must apply for Revenu Québec's approval by checking the box in Part 4 of this form. If you do not apply for approval but elect to use fiscal periods that are longer or shorter than those entered in Part 3, your notification will be rejected and you will have to file a new copy of the form by the prescribed deadline. In that case, Revenu Québec will assign calendar months or quarters.

Revenu Québec will notify you if your application to extend or shorten fiscal months is approved or denied. If it is denied, you will have to file a new copy of the form, making sure you enter fiscal months and quarters that meet the requirements set out in Part 3. Otherwise, you will have to file your returns and make instalment payments based on standard deadlines and due dates, that is, one month after the end date of calendar quarters or months.

Conditions for using fiscal periods that differ from calendar quarters or months

GST/HST and QST registrants can use fiscal quarters or fiscal months that differ from calendar quarters or months. A registrant with an annual filing frequency can also use fiscal quarters that do not correspond to calendar quarters. In that case, an instalment payment is due one month after the end of each fiscal quarter.

Branches filing separate returns

Branches or divisions that file separate returns must use the same fiscal year, fiscal quarters and fiscal months as the parent corporation.

Filing this form

The form and supporting documents must be filed with Revenu Québec no later than the first day of the new fiscal year.

Send them to one of the following Revenu Québec offices:

For more information, go to Revenu Québec's website at revenuquebec.ca.