CRA describes how a bare trust that was not required to file in its terminal year can communicate its “closed” status

A bare trust filed a T3 return (including Sched. 15) for its 2023 tax year prior to the CRA announcements that bare trust returns were not required for the 2023 – then the 2024 - tax year. The bare trust ceased to exist in 2024 so that it will never file a final T3 return. How can it communicate so that it is no longer considered a required filer?

CRA indicated that the trustee may:

(i) send a letter to the trust tax centre indicating that the bare trust has ceased to exist, and providing the account name and number, and the date of trust termination; or

(ii) file a final T3 return for the 2024 tax year with the date on which the bare trust ceased to exist.

Neal Armstrong. Summary of 17 June 2025 STEP Roundtable, Q.3 under s. 150(1.2).