2022-0930221C6 STEP 2022 - Q14 - Info on new T3 EFILE process

Principal Issues: Can the Canada Revenue Agency (CRA) provide us with additional information about their new service which allows users to file a T3 return via EFILE?

Position: General comments provided.

Reasons: See response.

Author: Bogdan, Aleksandra
Section: -

2022 STEP CRA Roundtable – June 15, 2022

QUESTION 14. Information on new T3 EFILE process

Can the Canada Revenue Agency (CRA) provide us with additional information about their new service which allows users to file a T3 return via EFILE?

CRA Response

The 2018 Federal Budget proposed that certain trusts will be required to file a T3 return annually and to provide beneficial ownership information. Based on the draft legislative proposals released for public comment on February 4, 2022, by the Department of Finance, these proposed new reporting requirements will be applicable for tax years that end on or after December 31, 2022. As a result, some trusts will be required to file a T3 return where previously they did not. Therefore, the volume of T3 returns is expected to increase significantly. In preparation, the CRA is in the process of modernizing how T3 returns are electronically filed shifting from XML Internet File Transfer to EFILE. The recently published RC4657, T3 Electronic Filers Manual, available on the Government of Canada website, provides supplementary information to tax preparers for the completion and submission of the electronic T3 return using the T3 EFILE service.

The Canada Revenue Agency's EFILE web service is now accepting transmissions of T3 returns (currently limited to only 2021 and subsequent tax years T3RET, T3S, T3M, T3RCA & T3ATH-IND return types) and T1135 Foreign Income Verification Statements. Refer to the T3 EFILE Information web page for the current list of certified software products. The CRA will continue to update this page as additional software is certified.

Refer to the How to file a T3 return web page on the Government of Canada website, which includes information regarding the Trust Account Registration online service. Filers are required to have a trust account number before they are eligible to EFILE. This page also includes a list of the different types of T3 returns that can be filed via EFILE, and contains a link to more information on EFILE for electronic filers (footnote 1) .

Aleksandra Bogdan
2022-093022

Response prepared by:
Justin Lawson and Roger Dhillon
T3 Transition Section
Individual Returns Directorate
Assessment, Benefit, and Service Branch

FOOTNOTES

Note to reader: Because of our system requirements, the footnotes contained in the original document are shown below instead:

1 The EFILE for electronic filers web page on the Government of Canada website includes information regarding T3 EFILE including links to T3 EFILE exclusions and the T3 EFILE certified software web page.

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