Trust Reporting Requirements

Revenue Canada now requires that individuals involved with trusts fill out a T3 return starting with the tax year ending December 31, 2023, naming the trustees, beneficiaries and settlors of each trust.

This may include parents who have cosigned a mortgage for a child becoming partial owner, or a child added to the title of a parents property for estate planning purposes.

For more information, please review the Government of Canada's information bulletin by using the hyperlink below.