We must attach notes to a T3 Trust Tax Return if the Trust holds shares in a private corporation or distributes assets other than cash to the beneficiaries. Can someone advise me on how to attach notes to a T3 Trust Return which is transmitted to CRA through efiling?
We just send a letter every year with the schedule attached for all of ours. Dont know of any other options.
According to CRA " As of January 1, 2024, tax preparers filing more than five trust returns of the same type need to use EFILE. If more than five trust returns of a same type are filed by paper, penalties could apply and could be as much as $25 for each paper return above the limit."
For just $25, my client may prefer to paper filing their T3 trust returns and attached all required notes and papers and may be a covering letter to describe their trust tax situtaion better.
See this link:
There have been a lot of changes since then, and I don’t recall (amongst all the updates) if there is now a method to “Attach a Doc” like there is for T2s. However, if you MUST file on paper, I have been informed (on this forum) that those submissions do not count toward your limit of 5 per year…at least, with respect to T1 filing. So, I expect T3 filing would be similar.
There presently is no method offered from the CRA to attach notes, etc. to the T3 electronically filed return. This has been something we’ve mentioned as a requested service from clients and we’ll continue to mention it when we meet with the CRA.
Presently you’ll have to send via mail or submit documents through Represent a Client.
~ Rob