Have you received a Requirement for Information?

What is a Requirement for Information?
 
The Income Tax Act can require you to provide information or documents for any purpose related to the enforcement of the Act. And when searching for that information the CRA may issue a Request for Information letter or a Requirement for Information letter.
 
A Request for Information is little more than a form letter sent to obtain standard information. The Requirement for Information however is a time sensitive legal document that you are compelled to answer. Failure to respond in a timely manner may result in both fines and a criminal record. And you will still be compelled to answer the letter.
 
It is important to know the difference between a Requirement For Information vs. a Request For Information due to the legal ramifications.
 
When in receipt of CRA correspondence do not be afraid to contact National Tax Service to determine which course of action best suits your needs.