Notice of Assessment: Complete Guide
Receiving a corporate notice of assessment is an important step in the tax cycle. More than just an administrative document, it confirms the compliance of your T2 and CO-17 filings and reflects your company’s actual financial position in the eyes of tax authorities.
For any Quebec business, understanding, reviewing, and using this notice helps maintain rigorous management, avoid costly errors, and effectively plan future fiscal periods.
What is a notice of assessment?
A corporate notice of assessment is an official document issued by Revenu Québec and/or the Canada Revenue Agency (CRA) following the processing of your corporate income tax returns.
This notice confirms that tax authorities have reviewed the financial information submitted by your company, calculated the taxes payable, and applied eligible credits, deductions, and loss carryforwards. It also indicates the balance owing or any refund due. As a legal document, it certifies that your returns have been properly processed and accepted.
Under tax laws, your business must retain its notices of assessment for at least six years after the end of the relevant fiscal year.
Contents of a notice of assessment
A corporate notice of assessment generally includes:
A summary of taxable income reported in your T2 and CO-17 forms;
Applied credits and deductions (investment tax credits, loss carryforwards, depreciation, etc.);
The balance of taxes payable or refundable tax credits;
The notice of assessment number and issue date, required for any future communication with Revenu Québec or the CRA.
This notice serves as an official accounting reference, useful for audits, consolidated financial statements, or business financing applications.
How to obtain your corporate notice of assessment
If you file your tax returns online
Businesses that submit their tax returns electronically through certified software or a CPA receive their notice of assessment more quickly.
On Revenu Québec - My file for businesses, the "Returns and notices of assessment" section allows you to download the document in PDF format;
On My CRA business file, you can access the T2 notice in the "Mail" tab.
The delivery time is generally a few days after processing.
If you file your returns on paper
For businesses that submit their T2 and CO-17 forms by mail, the notice of assessment is sent to the address provided on the return. Processing may take between 2 and 6 weeks, depending on the time of year and the complexity of the file.
Electronic filing is strongly recommended to speed up processing and reduce the risk of errors or lost documents.
How to find a previously issued notice of assessment
Access past notices online
Your previous notices of assessment remain accessible in your online accounts:
Revenu Québec: "Tax documents" section of My business file;
ARC : "Mail" or "Available documents" tab of My business file.
The last ten years of notices can be consulted and downloaded in PDF format.
If you lost your paper notice
In the event of loss or non-receipt, you can request a duplicate of your notice of assessment.
Contact Revenu Québec at 1 800 567-4692;
Or the CRA at 1 800 959-5525 (business line).
Finding your notice of assessment number
This number appears on the first page, in the top right corner of the document.
It is required to:
Access your online tax accounts;
Authorize a tax representative (accountant, firm, financial institution);
Track an audit or objection file.
Keep this number safe, it serves as your unique tax identifier for the relevant year.
What to do after receiving your notice of assessment
If the amounts are correct
No action necessary: keep the notice in your accounting and tax files for future audits.
This document can be used for :
The financial audits or engagement reviews;
An application for funding or tax credits;
If you believe there is an error
Compare the notice received with your T2 and CO-17 returns and the supporting documents submitted.
If a discrepancy is found :
Consult your accountant or tax specialist for validation;
File a request for review or notice of objection within 90 days of the date of issue;
Monitor the follow-up in your online spaces (CRA and Revenu Québec).
Mallette's fiscalists support businesses in auditing and disputing notices of assessment, providing a comprehensive defence that complies with tax regulations.
Analyze, understand, and optimize your notices of assessment with Mallette
The notice of assessment is official proof of your company's financial situation. Knowing how to consult it, understand it and keep it avoids mistakes and anticipates your tax obligations.
Mallette's tax specialists and accountants can help you analyse your notices, correct any inconsistencies and ensure that your tax management is complete and compliant.