What has changed

The latest changes affecting trusts and trust reporting.

Changes to bare trusts reporting requirements

Updated: October 5, 2026

The Canada Revenue Agency (CRA) is implementing the updates to the trust reporting requirements for taxation years ending on or after December 31, 2026.

New Requirements: Recent legislative amendments have changed the reporting rules for trusts. Starting with taxation years ending on or after December 31, 2026, certain bare trusts may need to file a T3 Trust Income Tax and Information Return (T3 return) including Beneficial Ownership Information of a Trust (Schedule 15).

Support for Filers: To help taxpayers understand their reporting obligations, including those specific to bare trusts, the CRA has updated the Enhanced reporting rules for trusts and bare trusts: Frequently asked questions (FAQs).

For detailed guidance on filing a T3 return, including information on when and how to file, visit the CRA’s Filing a trust’s T3 return page.

This web page and the FAQ page will be updated as additional information becomes available.