Trust was created in 2013. Audited by CRA in person. All Trust documents provided to CRA at that time. Trust has filed annual returns each year since then. Settler has passed. Trustees and beneficiaries have not changed. Income distributed to all 3 beneficiaries each year.
For Schedule 15, can I indicate “No” to the first question or do I need to complete the entire schedule?
You can indicate that beneficiaries have no changes, that’s correct.
My understanding is that since this is the first year where the T3 includes Schedule 15 it does need to be completed for all trusts EXCEPT if the trust falls into one of the limited exclusions that are available.
Details and information for how to complete Schedule 15 can be found in the T3 Trust Guide .
CRA has stated that Schedule 15 is the ONLY way of providing the information.