T2SCH141 — General Index of Financial Information (GIFI) – Additional Information

Schedule 141, titled General Index of Financial Information (GIFI) – Additional Information, is a schedule associated with a T2 Corporation Income Tax Return that collects supplemental details relating to the corporation’s financial statements prepared with GIFI codes. You must complete and include Schedule 141 with your T2 return when submitting financial information using GIFI, even if you do not have notes to the financial statements.

📥 Download and Form Versions

You can download Schedule 141 in both standard and fillable PDF formats. The fillable PDF requires you to download and open it with Adobe Acrobat Reader 10 or later.

• T2SCH141 — Accessible Fillable PDF
• T2SCH141 — Standard Printable PDF

🧾 Purpose and When to Complete

Schedule 141 is part of the General Index of Financial Information (GIFI) reporting that accompanies a corporate tax return where financial statement information is reported. It provides the Canada Revenue Agency (CRA) with additional context about your financial statements, including who prepared them, their professional involvement, and any notes to the financial statements.

You must complete Schedule 141 if your corporation submits financial statements using GIFI codes — for example, when your corporation has gross revenue or assets above certain thresholds or is otherwise filing detailed financial information with the T2 return.

📊 Schedule Parts Overview

Schedule 141 is organized into several parts that gather distinct pieces of information:

• Part 1 – Information on the preparer: Identifies the individual primarily involved with preparing or reporting the financial information, including whether they have a professional designation.
• Part 2 – Type of involvement: Describes the preparer’s role, such as whether they completed an audit, review engagement or compilation engagement.
• Part 3 – Reservations: Indicates if the preparer expressed any reservations about the financial statements.
• Part 4 – Other information: Collects additional details regarding the financial statements or the preparer.

📌 Why Schedule 141 Matters

Completing Schedule 141 helps the CRA assess the reliability and context of your financial statements. It offers clarity about the qualifications of the person preparing or reporting the financial details, and it supports compliance with reporting standards tied to GIFI.

Even if your corporation has no notes to its financial statements, you generally still need to complete Schedule 141 when using GIFI for the T2 filing.

📎 Related GIFI Schedules

Schedule 141 is part of a set of GIFI‑related schedules commonly included with a detailed T2 return. Depending on your corporation’s size and activity level, you may also need to include:

• T2SCH100 — Balance Sheet Information
• T2SCH101 — Opening Balance Sheet Information
• T2SCH125 — Income Statement Information
• T1178 — General Index of Financial Information – Short

📍 Filing Tips

If your corporation’s financial information is prepared using certified T2 tax software, Schedule 141 will typically be completed within the software itself and attached electronically to your T2 return. For paper filings, include the printed Schedule 141 with your other GIFI schedules.

Inactive corporations with no financial statement information may not be required to attach GIFI schedules, but they are generally accepted if included.