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Income Tax Regulations (C.R.C., c. 945)

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Regulations are current to 2024-02-06 and last amended on 2024-02-02. Previous Versions

PART IIInformation Returns (continued)

Payments to Non-Residents (continued)

Marginal note:Requirement to file

 Every institution that is a designated educational institution (as defined in subsection 118.6(1) of the Act) because of paragraph (a) of that definition shall make an information return in prescribed form in respect of each individual enrolled at that institution who is a qualifying student (as defined in subsection 118.6(1)) for a month in a taxation year.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/2003-5, s. 3
  • 2018, c. 27, s. 35

Estates and Trusts

  •  (1) Every person having the control of, or receiving income, gains or profits in a fiduciary capacity, or in a capacity analogous to a fiduciary capacity, shall make a return in prescribed form in respect thereof.

  • (2) The return required under this section shall be filed within 90 days from the end of the taxation year and shall be in respect of the taxation year.

  • (3) Subsection (1) does not require a trust to make a return for a taxation year at the end of which it is

    • (a) governed by a deferred profit sharing plan or by a plan referred to in subsection 147(15) of the Act as a revoked plan;

    • (b) governed by an employees profit sharing plan;

    • (c) a registered charity;

    • (d) governed by an eligible funeral arrangement;

    • (d.1) a cemetery care trust;

    • (e) governed by a registered education savings plan;

    • (f) governed by a TFSA or by an arrangement that is deemed by paragraph 146.2(9)(a) of the Act to be a TFSA; or

    • (g) governed by a registered disability savings plan, except if paragraph 146.4(5)(a) or (b) of the Act applies.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/88-165, s. 31(F)
  • SOR/94-686, s. 51(F)
  • SOR/96-283, s. 2
  • SOR/99-22, s. 5
  • SOR/2000-13, s. 2
  • SOR/2001-216, s. 10(F)
  • 2009, c. 2, s. 84
  • SOR/2016-30, s. 5

Interpretation

  •  (1) The following definitions apply in this section.

    public investment trust

    public investment trust, at any time, means a public trust all or substantially all of the fair market value of the property of which is, at that time, attributable to the fair market value of property of the trust that is

    • (a) units of public trusts;

    • (b) partnership interests in public partnerships (as defined in subsection 229.1(1));

    • (c) shares of the capital stock of public corporations; or

    • (d) any combination of properties referred to in paragraphs (a) to (c). (fiducie de placement ouverte)

    public trust

    public trust, at any time, means a mutual fund trust the units of which are, at that time, listed on a designated stock exchange in Canada. (fiducie ouverte)

Required Information Disclosure

  • (2) A trust that is, at any time in a taxation year of the trust, a public trust shall, within the time required by subsection (3),

    • (a) make public, in prescribed form, information in respect of the trust for the taxation year by posting that prescribed form, in a manner that is accessible to the general public, on the Internet website of CDS Innovations Inc.; and

    • (b) notify the Minister in writing as to when the posting of the prescribed form, as required by paragraph (a), has been made.

Required Disclosure Time

  • (3) The time required for a public trust to satisfy the requirements of subsection (2) in respect of the public trust for a taxation year of the public trust is

    • (a) subject to paragraph (b), on or before the day that is 60 days after the end of the taxation year; and

    • (b) where the public trust is, at any time in the taxation year, a public investment trust, on or before the day that is 67 days after the end of the calendar year in which the taxation year ends.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • 2007, c. 35, s. 72

Additional Reporting — Trusts

  •  (1) For the purposes of subsection 150(1) of the Act, every person having the control of, or receiving income, gains or profits in a fiduciary capacity, or in a capacity analogous to a fiduciary capacity, shall provide information in respect of a trust, unless the trust is subject to one of the exceptions listed in paragraphs 150(1.2)(a) to (o) of the Act, that includes the name, address, date of birth (in the case of an individual other than a trust), jurisdiction of residence and TIN (as defined in subsection 270(1) of the Act) for each person who, in the year,

    • (a) is a trustee, beneficiary (subject to subsection (2)) or settlor (as defined in subsection 17(15) of the Act) of the trust; or

    • (b) has the ability (through the terms of the trust or a related agreement) to exert influence over trustee decisions regarding the appointment of income or capital of the trust.

  • (2) For the purposes of subsection (1), the requirement in paragraph (1)(a) to provide required information in respect of beneficiaries of a trust in a return is met if

    • (a) the required information is provided in respect of each beneficiary of the trust whose identity is known or ascertainable with reasonable effort by the person making the return at the time of filing the return;

    • (b) in respect of a trust, the beneficiaries of which are all of the members of an Indigenous group, community or people that holds rights recognized and affirmed by section 35 of the Constitution Act, 1982, or an identifiable class of the members of an Indigenous group, community or people that holds rights recognized and affirmed by section 35 of the Constitution Act, 1982, the person making the return provides a sufficiently detailed description of the class of beneficiaries to determine with certainty whether any particular person is a member of that class of beneficiaries;

    • (c) in respect of a trust that is not described in paragraph 150(1.2)(h) of the Act but which has one or more classes of units that are listed on a designated stock exchange, the person making the return provides the required information regarding the beneficiaries of those classes of units that are not listed on a designated stock exchange; and

    • (d) in respect of beneficiaries not described in paragraphs (a) to (c), the person making the return provides sufficiently detailed information to determine with certainty whether any particular person is a beneficiary of the trust.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • 2022, c. 19, s. 72

Date Returns To Be Filed

  •  (1) All returns required under this Part shall be filed with the Minister without notice or demand and, unless otherwise specifically provided, on or before the last day of February in each year and shall be in respect of the preceding calendar year.

  • (2) Where a person who is required to make a return under this Part discontinues his business or activity, the return shall be filed within 30 days of the day of the discontinuance of the business or activity and shall be in respect of any calendar year or a portion thereof prior to the discontinuance of the business or activity for which a return has not previously been filed.

  • (3) For the purpose of subsection 162(7.01) of the Act, the following types of information returns are prescribed:

    First Home Savings Account (FHSA) Annual Information Return
    Government Service Contract PaymentsT1204
    International Electronic Funds Transfer Report
    International Exchange of Information on Financial Accounts Information Return (Part XVIII of the Act)
    Part XX Information Return – Digital Platform Operators
    Past Service Pension Adjustment (PSPA) Exempt from CertificationT215
    Pension Adjustment Reversal (PAR)T10
    Pooled Registered Pension Plan (PRPP) Information Return
    Registered Retirement Savings Plan (RRSP) Contribution Information Return
    Statement of Amounts Paid or Credited to Non-residents of CanadaNR4
    Statement of BenefitsT5007
    Statement of Canada Pension Plan BenefitsT4A(P)
    Statement of Contract PaymentsT5018
    Statement of Distributions from a Retirement Compensation Arrangement (RCA)T4A-RCA
    Statement of Employee Profit Sharing Plan Allocations and PaymentsT4PS
    Statement of Employment Insurance and Other BenefitsT4E
    Statement of Farm-support PaymentsAGR-1
    Statement of Fees, Commissions, or Other Amounts Paid to Non-residents for Services Rendered in CanadaT4A-NR
    Statement of Income from a Registered Retirement Income FundT4RIF
    Statement of Investment IncomeT5
    Statement of Old Age SecurityT4A(OAS)
    Statement of Pension, Retirement, Annuity and Other IncomeT4A
    Statement of Registered Retirement Savings Plan (RRSP) IncomeT4RSP
    Statement of Remuneration PaidT4
    Statement of Securities TransactionsT5008
    Statement of Trust Income Allocations and DesignationsT3
    Tax-free Savings Account (TFSA) Annual Information Return
    Tuition and Enrolment Certificate
    Universal Child Care Benefit StatementRC62
  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/2013-199, s. 1
  • SOR/2015-170, s. 2
  • 2018, c. 27, s. 36
  • 2022, c. 19, s. 73
  • 2023, c. 26, s. 97

Electronic Filing

  •  (1) For the purpose of subsection 162(7.02) of the Act, the following types of information returns are prescribed and must be filed electronically if more than five information returns of that type are required to be filed for a calendar year:

    First Home Savings Account (FHSA) Annual Information Return
    Government Service Contract PaymentsT1204
    International Electronic Funds Transfer Report
    Part XVIII Information Return — International Exchange of Information on Financial Accounts
    Pooled Registered Pension Plan (PRPP) Information Return
    Registered Retirement Savings Plan (RRSP) Contribution Information Return
    Registered Retirement Savings Plans and Registered Retirement Income Funds Non-qualified Investments
    Statement of Amounts Paid or Credited to Non-residents of CanadaNR4
    Statement of BenefitsT5007
    Statement of Canada Pension Plan BenefitsT4A(P)
    Statement of Contract PaymentsT5018
    Statement of Employment Insurance and Other BenefitsT4E
    Statement of Farm-support PaymentsAGR-1
    Statement of Fees, Commissions, or Other Amounts Paid to Non-residents for Services Rendered in CanadaT4A-NR
    Statement of Income from a Registered Retirement Income Fund (RIF)T4RIF
    Statement of Investment IncomeT5
    Statement of Old Age SecurityT4A(OAS)
    Statement of Partnership IncomeT5013
    Statement of Pension, Retirement, Annuity and Other IncomeT4A
    Statement of Remuneration PaidT4
    Statement of Registered Retirement Savings Plan (RRSP) IncomeT4RSP
    Statement of Securities TransactionsT5008
    Statement of Trust Income Allocations and DesignationsT3
    Tax-free Savings Account (TFSA) Annual Information Return
    Tuition and Enrolment Certificate
    Universal Child Care Benefit StatementRC62
  • (2) For purposes of subsection 150.1(2.1) of the Act, a prescribed corporation is any corporation except

    • (a) an insurance corporation as defined in subsection 248(1) of the Act;

    • (b) a non-resident corporation;

    • (c) a corporation reporting in functional currency as defined in subsection 261(1) of the Act; or

    • (d) a corporation that is exempt under section 149 of the Act from tax payable.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/99-20, s. 1
  • SOR/2011-295, s. 1
  • SOR/2015-140, s. 1
  • 2018, c. 27, s. 37
  • 2022, c. 19, s. 74
  • 2023, c. 26, s. 98

Legal Representatives and Others

  •  (1) Where a person, who is required to make a return under this Part, has died, such return shall be filed by his legal representative within 90 days of the date of death and shall be in respect of any calendar year or a portion thereof prior to the date of death for which a return has not previously been filed.

  • (2) Every trustee in bankruptcy, assignee, liquidator, curator, receiver, trustee or committee and every agent or other person administering, managing, winding-up, controlling or otherwise dealing with the property, business, estate or income of a person who has not filed a return as required by this Part shall file such return.

Ownership Certificates

  •  (1) An ownership certificate completed pursuant to section 234 of the Act shall be delivered to the debtor or encashing agent at the time the coupon, warrant or cheque referred to in that section is negotiated.

  • (2) The debtor or encashing agent to whom an ownership certificate has been delivered pursuant to subsection (1) shall forward it to the Minister on or before the 15th day of the month following the month the coupon, warrant or cheque, as the case may be, was negotiated.

  • (3) The operation of section 234 of the Act is extended to a bearer coupon or warrant negotiated by or on behalf of a non-resident person who is subject to tax under Part XIII of the Act in respect of such a coupon or warrant.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/94-686, s. 50(F)
 

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