Thursday, April 25, 2013

What’s new for trusts?

Did you know?
Trustees can now apply for a trust account number before filing their T3RET, T3 Trust Income Tax and Information Return. A trust account number is an identifier starting with the letter “T” followed by an eight-digit number.

How to apply for a trust account number
Apply for a trust account number using Form T3 APP, Application for Trust Account Number.

What information is needed?
To process your application, we need a completed and signed Form T3 APP with a signed copy of the trust document or will.

Important facts
  • Once the Canada Revenue Agency (CRA) has assigned a trust account number to the trust, please include this number on all correspondence related to the trust to simplify dealings with us.
  • If you want to apply for a trust account number for someone, or you want to authorize a person to apply for you, we need a completed and signed Form T1013, Authorizing or Cancelling a Representative. This form allows us to deal with a person who is acting as a representative for another person on income tax matters (including trust accounts).
Related links

Canada Revenue Agency

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