When you file for bankruptcy, you must submit a monthly Income and Expense report until you receive your discharge. This report details your household income and expenses and is used to calculate your surplus income payments under the Bankruptcy and Insolvency Act.
As part of your bankruptcy process, you’ll need to complete a statement of your income and expenses each month of your bankruptcy. We have included a simple template so you can report your income and expenses clearly and accurately. You must complete a report each month until you are discharged.
Submitting accurate, up-to-date information ensures your payments are fair and based on your real financial situation — not just your gross income. If reports are missing or incomplete, payments may be calculated too high, overpayments cannot be refunded, and your discharge could be delayed.
1. Complete your online income and expense report
2. Attach proof of income (pay stubs, bank statements, or business records)
3. Provide documentation for allowable non-discretionary expenses
4. Submit everything by the due date
If you’re self-employed, your reporting requirements are a little more detailed. In addition to your household income and expense report, you must also complete a self-employment income and expense report.
Here’s what you’ll need to include:
Your net business income is the amount that will be reported as your personal income for bankruptcy purposes on your monthly income and expense statement.
Be prepared to provide supporting documentation, such as receipts, invoices, or official statements, to verify your business income and expenses.
