Filing a trust return
When and how to file a trust return, including exemptions from who should file a trust return and where to send the return.
Some trusts that filed a T3 return after March 30 and before April 3, 2024 with a T3SCH15 (Beneficial Ownership Information of a Trust) have been charged a penalty in error. We are currently reassessing affected accounts to remove the penalty and a notice of reassessment will be issued.
New reporting requirements for trusts
All trusts, unless specific conditions are met, must file a trust return and schedule 15 for tax years ending after December 30, 2023. For bare trusts, the CRA has waived the requirement for the 2023 tax year and is working to clarify the reporting requirements for 2024 and beyond. For more information refer to: New reporting requirements for trusts FAQ.
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