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:
- apply due diligence procedures to identify reportable accounts
- annually report to the Canada Revenue Agency (CRA) the information required on a Part XIX Information Return
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.
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 2020 tax year were due by May 1st, 2021. Since May 1, 2021 was a Saturday, the due date was May 3, 2021.
Filer of Information Returns
Budget 2021 announced that the threshold for mandatory electronic filing of income tax information returns for a calendar year would be lowered from 50 to 5 information returns.
The legislation for this measure was not finalized when the guides and forms were published. For the latest information about the penalty for not filing information returns over the Internet, go to our web page Penalty for failure to file information returns over the Internet. You can also subscribe to our email distribution list about the electronic filing of information returns at Canada Revenue Agency electronic mailing lists.
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 1-800-959-5525.
Report a problem or mistake on this page
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