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- You do not have to keep a copy of the T3 slips. However, when you file online, you have to keep the information from which you prepared the slips in an accessible and readable format. You can provide recipients with a digital copy of their T3 slips only if the recipient gives you their consent in writing or by email.
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Can I provide a digital copy of my T3 slip?
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How do I identify a beneficiary on a T3 slip?
Trusts use the T3 slip, Statement of Trust Income Allocations and Designations, to identify beneficiaries and to report amounts such as income and credits that the trust designates to them. Three individual slips are printed on each page or sheet of the form.
- When to Prepare a T3 Slip
The T3 slip has three individual slips printed on each...
- When to Prepare a T3 Slip
- Overview
- High-use boxes
- Low-use boxes
- Forms and publications
- Related links
Type or print the information on the slip. Report all amounts in Canadian dollars. If an amount was paid in foreign funds at various times throughout the year, to get the applicable rates or call 1-800-959-8281.
If there is a preferred beneficiary election and other income is also allocated to the same beneficiary, complete one T3 Slip for the elected income and a separate T3 slip for all other allocated income.
You can get the information needed to complete boxes 21 to 51 from Schedule 9, Income Allocations and Designations to Beneficiaries.
Recipient’s name and address – Enter the information in the white area provided. If the payment is to an individual, enter the beneficiary’s name. If the payment is to a joint beneficiary, enter both names. If the payment is made to a trust, enter the name of the trust but not the names of the individual beneficiaries of that trust. If the payment is made to an association, organization, or institution, enter that name. Following the beneficiary’s name, enter the beneficiary’s full address including city and province or territory. Also include the postal code.
Year – Enter the tax year at the top of the slip.
Trust year end – Use a four-digit number to indicate the year, and a two-digit number to indicate the month of the trust’s tax year-end.
For your convenience, we have put the instructions for the following boxes in numeric order, even though the order on the slip may be different. The high-use boxes appear first, followed by the low-use boxes.
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•Box 12 – Recipient identification number
If the beneficiary is an individual (other than a trust), enter the individual’s social insurance number.
If the beneficiary is a business (sole proprietor, corporation or partnership), enter the 15 character program account number of the business.
If the beneficiary is a trust, enter the trust account number.
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•Box 22 – Lump-sum pension income
Enter the beneficiary spouse's or common-law partner's share of the amount from line 922 of Schedule 9.
•Box 24 – Foreign business income
Enter the beneficiary's share of the amount from line 924 of Schedule 9 (before withholding taxes).
•Box 25 – Foreign non-business income
•Guide T4013, T3 Trust Guide
•Form T3 Statement of Trust Income Allocations and Designations
•Information Circular IC78-5R3, Communal Organizations
•Form T2038(IND) – Investment Tax Credit (Individuals)
•Amending, cancelling, adding, or replacing T3 slips
Complete one copy of the T3 slip for each recipient and send your slips with your T3 Summary. Enter the information for two different recipients on one sheet. This will let us process your information return faster. You must keep a copy of the trust-related slips and the T3 Summary for your files.
If you received a T3 or T5 slip for a joint investment account, you can share the slip with others in your account. Here’s how: In the first return, enter all the boxes exactly as they appear on the T3 or T5 slip.
You can provide recipients with a digital copy of their T3 slips only if the recipient gives you their consent in writing or by email. If you fail to distribute the T3 slip or any other trust-related information slip to a recipient by the due date, you will be liable for a penalty.
Apr 22, 2024 · The T3 tax form, or the T3 slip, is a form you need to issue to your trust’s beneficiaries to report amounts, such as their designated income and credits. In Quebec, beneficiaries receive an RL-16 .
Jan 12, 2024 · To create PDF files for slip recipients, modify the Employee copy or Recipient copy print set (the name changes depending on the type of slip you are printing—this example uses T4 slips). You can either do this in Print/PDF Options for the slip type, or directly from the Print sidebar:
