What happens if I don't file the T1161 or T1243 forms when I emigrate from Canada?

Missing these forms exposes you to a penalty for late or missing information returns, separate from and in addition to any interest and penalties that might apply to unpaid departure tax itself. CRA treats T1161 and T1243 as required filings tied to your departure-year return, and failing to file them, or filing them late, can trigger a penalty even in situations where you would have owed little or no actual departure tax, since the obligation to disclose is distinct from the size of your tax bill.

Beyond the direct penalty exposure, missing these forms can also complicate your ability to rely on elections tied to them, such as deferring payment of the departure tax, since CRA administers those elections in connection with a properly filed T1243. A gap in the paper trail years later, if CRA reviews your departure year, is also harder to fix retroactively than getting the forms in on time.

If you've already emigrated and realize these forms were missed, the practical step is to get them filed as soon as possible rather than waiting, since a voluntary late filing is generally viewed more favourably than one prompted by a CRA inquiry.