Schedule 50 (shareholder information)
Schedule 50, Shareholder Information, is a schedule to the T2 corporation income tax return on which a private corporation reports each shareholder who holds at least the ownership level stated in the CRA’s instructions, measured by its common or preferred shares.
Buyers meet Schedule 50 when they ask for a target’s filed T2 returns and want to see who owns the company. The CRA says all private corporations must complete it for any shareholder at or above the stated level of the corporation’s common or preferred shares, and the T2 guide gives the same instruction. See the answer on which tax filings to review.
What it shows and what to check
The T2 guide notes that two of the schedule’s lines refer to the percentage of votes. A shareholder below the stated level need not appear on the schedule, so it is a filing, not a full list of owners. Compare it with the share register and, where one is kept, the register of individuals with significant control.
- Ask for the schedule from each return in the review period
- Check each named shareholder against the share register and the seller’s description of the owners
- Ask the seller to explain any difference between years
Sources
This definition is checked against primary sources. Links were last confirmed on the dates shown.
- 01Canada Revenue AgencyGovernmentT2SCH50 Shareholder Information
- 02Canada Revenue AgencyGovernmentT2 Corporation – Income Tax Guide – Chapter 2: Page 2 of the T2 return
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