Subsection 204.2(1)
Administrative Policy
2 December 2025 CTF Roundtable Q. 12, 2025-1080801C6 - Interaction of Subsection 150(1.2) of the Income Tax Act and Subsection 204.2(1) of the Income Tax Regulations
CRA confirmed that the exceptions to the required Sched. 15 reporting in proposed Reg. 204.2(1), provided for in proposed ss. 150(1.2)(a) to (r),...
27 August 2025 External T.I. 2025-1057461E5 - Trust Reporting, 149(5) Deemed Trust, 150(1.2)(e)
Would Reg. 204.2(1) apply to a deemed trust arising over property of an NPO pursuant to s. 149(5) (a “Deemed Trust”) such that it would be...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 150 - Subsection 150(1.2) | a deemed trust is not an express trust | 139 |
16 May 2024 External T.I. 2023-0986981E5 - Reg 204.2 for trusts that wind up in 2023
Regarding whether a trust other than a graduated rate estate (GRE) that was wound up in 2023 before December 31 would be required to provide the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(1) - Paragraph 249.1(1)(c) | an inter vivos trust that is wound up in the year nonetheless has a December 31 taxation year end | 92 |
19 March 2024 External T.I. 2024-1003321E5 - Enhanced Trust Reporting
CRA concluded that an RRSP trust, which does not have a tax identification number (TIN), and is the beneficiary of a unit trust, is now required...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 237 - Subsection 237(1.1) - Paragraph 237(1.1)(b) | RRSP beneficiaries of unit trusts are now generally required to get a TIN | 202 |
CRA Webpage, Enhanced reporting rules for trusts and bare trusts: Frequently asked questions, updated on 14 March 2025
Requirement to report non-beneficiary reportable entities (paras. 1.6 and 1.7)
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Unlike the accommodation by the rules for beneficiaries who are...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 162 - Subsection 162(7) | no s. 162(7) penalty for 2023 taxation year of bare trust unless gross negligence | 142 |
| Tax Topics - Income Tax Act - Section 163 - Subsection 163(5) | no s. 163(5) penalty for 2023 taxation year of bare trust unless situation egregious | 191 |
| Tax Topics - Income Tax Act - Section 150 - Subsection 150(1.2) | 180 | |
| Tax Topics - Income Tax Act - Section 104 - Subsection 104(1) | 476 | |
| Tax Topics - Income Tax Act - Section 163 - Subsection 163(5) | 126 | |
| Tax Topics - Income Tax Act - Section 150 - Subsection 150(1.2) - Paragraph 150(1.2)(a) | 80 |
3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 7, 2023-0994231C6 F - Additional reporting - trusts subject to exception
For taxation years ending on or after December 31, 2023, Reg. 204.2(1) requires a trust to provide specified information regarding its trustees...
20 June 2023 STEP Roundtable Q. 4, 2023-0968111C6 - Trust Reporting – Definition of Beneficiary
Pursuant to Reg. 204.2(1)(a), a trustee of a trust is required to report information about each “beneficiary” of the trust, unless the trust...
Articles
Kate Harris, Balaji (Bal) Katlai, "New Trust Disclosure Rules: The Unfolding of the Propep Nightmare", Tax for the Owner-Manager,” Vol. 20, No. 4, October 2020, p. 7
Quaere whether Proprep indicates that contingent beneficiaries must be disclosed (p. 7)
Consider a trust indenture that includes a "conditional"...