How to complete and file a Part XIX Information Return – International Exchange of Information on Financial Accounts slips and summary

Under Part XIX of the Income Tax Act, Canadian financial institutions are required to do both of the following:

The following information relates to the reporting aspect — how to complete and file the new return as well as information about the business number (BN) RZ program account, access to login services, notification of errors and correction processes for Part XIX Information Returns.

These instructions are to be used in conjunction with the Guidance on the Common Reporting Standard, XML specifications and schema. The guidance document provides details on due diligence and reporting obligations. It is also designed to help financial institutions prepare for the release of that information return.

Due Date 

The Part XIX Information Return (slips and summary) must be filed by May 1st following the calendar year to which the information return applies.

When the due date falls on a Saturday, a Sunday, or a public holiday recognized by the CRA, we consider your return to be on time if we receive it on the next business day. Your return is considered on time if we receive it or if it is postmarked on or before the next business day.

For example, returns for the 2021 tax year were due by May 1st, 2022. Since May 1, 2022 was a Saturday, the due date was May 3, 2022.

What's new

Mandatory electronic filling 

Web Access Code

Under proposed changes announced in Budget 2022, the threshold for mandatory electronic filing of income tax information returns for the 2023 calendar year has been lowered from 50 to 5 information returns. For the latest information about the penalty for not filing information returns over the Internet, go to canada.ca/mandatory-electronic-filing. You may also subscribe to the CRA’s email distribution list about the electronic filing of information returns at canada.ca/cra-email-lists.

Electronic remittance or payments above $10K

As of January 1, 2024, payments or remittances to the Receiver General of Canada should be made as an electronic payment if the amount is more than $10,000. Payers may face a penalty, unless they cannot reasonably remit or pay the amount electronically. For more information, go to canada.ca/payments.

Internet file transfer availability

Internet filing is available from January 8, 2024

Services and information 

• Registering for a U.S. identifier or a CRA program account
  Do you need a separate BN RZ program account? Did you know you need access to My Business Account or Represent a Client? Do you need a Web access code?

• Completing Part XIX Information Return slips and summary
  Definitions, how to complete slips and summary information, significant variations from other information returns, and how to avoid errors and rejections.

• Electronic filing only by using Internet file transfer (XML) or Web Forms
  Filing by using the Web Forms and Internet file transfer (XML) applications, XML specifications and schema.

• After you file a Part XVIII or Part XIX Information Return
  Confirmation that the return was processed, downloading your list of notifications of errors, and correcting records

• Penalties and interest
  Potential consequences for not doing what you have to do, such as being penalized for not filing, filing late, filing incorrectly, filing incomplete returns, not giving identification numbers or misusing them. Also has information on notices, interest and taxpayer relief.

Electronic mailing list

Subscribe to Enhanced financial account information reporting electronic mailing list to receive an email notice when new or updated information is posted on our website.

If you have any questions, please contact us.

If you need help

For more information on the electronic transmission of the return or the content, call 1-800-959-8281.