Search and Rescue officials in Halifax said they were not certain if the fishing vessel Nautical Horizon had sunk off St. John's.
The boat radioed Saturday morning it was taking on water. It was not clear how many people were aboard.
Rain and gusty winds were reported off Newfoundland Saturday.
CBC News said the four survivors were reported to be in good condition after being rescued by the coast guard auxiliary ship Emerald Explorer.
2014: The Year in Music [PHOTOS]