DQ13. What happens next after a registered charity receives approval to reduce its disbursement quota?

DQ13. What happens next after a registered charity receives approval to reduce its disbursement quota?

After receiving approval to reduce its disbursement quota, a registered charity must amend its T3010 return for the fiscal period in which the shortfall occurred to include the new approved amount.

To amend the return, the charity must complete Form T1240: Registered Charity Adjustment Request www.cra-arc.gc.ca/E/pbg/tf/t1240/README.html. After the adjustment has been processed, the charity will receive a revised Registered Charity Information Return Summary for that fiscal period.