T4091(E) Rev. 16

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Table of contents

• Is this guide for you?
• What's new?
• Definitions
• Chapter 1 - General information
  • What are securities?
  • What are proceeds?
  • Who has to file a T5008 information return?
  • When do you not have to file a T5008 information return?
  • Deemed dispositions
  • Are you acting as a trustee?
  • Due date
• Chapter 2 - T5008 information return
  • General information
  • T5008 slip
  • T5008 Summary
• Chapter 3 - Filing methods
  • Mandatory electronic filing
    • Failure to file information returns over the Internet
  • Filing by Web Forms
  • Filing by Internet file transfer
  • Web access code
  • Filing without a web access code
  • Filing using computer-printed (customized) forms
  • Filing on paper
• Chapter 4 - Penalties and interest
  • Late-filing and failure to file the T5008 information return
  • Failure to provide information on a return
  • Failure to provide an identification number
  • Failure to provide a social insurance number (SIN) on a return
  • Using the identification number
  • Interest
  • Cancelling or waiving penalties and interest
  • Notice of assessment
• Chapter 5 - T5008 slip
  • Completing the T5008 slip
  • Distributing the T5008 slips
• Chapter 6 - T5008 Summary
  • Completing the T5008 Summary
  • Filing the T5008 Summary
• Chapter 7 - After you file
  • Amending, cancelling, adding, or replacing slips
• Chapter 8 - Unclaimed proceeds of disposition
  • Remittances
  • Reporting requirements
• Appendix A - Flowcharts
  • Chart 1 - Debt obligations
  • Debt obligations
  • Chart 2 - Shares
  • Shares
  • Chart 3 - Interest in a trust or partnership
  • Interest in a trust or partnership
  • Chart 4 - Other securities
  • Other securities
  • Chart 5 - Reporting institutions
  • Reporting institutions
  • Chart 6 - Reporting the transactions
  • Reporting the transactions
• Appendix B - Samples of forms
  • T5008 slip
  • T5008 Summary
• Appendix C - Distributing your copies
  • How to prepare, distribute and file your T5008 slips with your T5008 Summary
• Appendix D - Samples of customized forms
  • Example 1
  • Example 2
• Appendix E - Provincial and territorial codes
• Appendix F - References
  • Information Circulars
  • Interpretation Bulletins
  • Guides and other publications
• Addresses of tax centres
• Online services
  • My Account
  • Handling business taxes online
  • Receiving your CRA mail online
  • Authorizing the withdrawal of a pre-determined amount from your bank account
• For more information
  • What if you need help?
  • Direct deposit
  • Forms and publications
  • Tax Information Phone Service (TIPS)
  • Teletypewriter (TTY) users
  • Electronic mailing lists
  • Service complaints
  • Reprisal complaint
  • Tax information videos
  • Due dates

  • Cancel or waive penalties or interest

Is this guide for you?

This guide explains how to prepare a T5008 return of securities transactions. Traders or dealers in securities have to file a T5008 information return to report purchases of securities as principal for their own account, and sales of securities they make as an agent or nominee, for any vendor. Issuers of securities and their agents or nominees use this information return to report redemptions, acquisitions, or cancellations of securities. You have to report transactions to all persons, including individuals, corporations, partnerships, trusts, or any other person who resides either in or outside Canada.

You have to report all security transactions falling under any section of the Income Tax Act not specifically excluded under subsection 230(3) of the Income Tax Regulations, even if no tax arises as a result of the transaction. For example, transactions undertaken under section 85 and section 85.1 of the Income Tax Act are not exempt from the requirement to report.

You must also use the T5008 information return to report dispositions or redemptions of debt obligations in bearer form by individuals resident in Canada. Debt obligations in bearer form include commercial paper and banker's acceptances.

Confidentiality of information

Under the Privacy Act, the personal information you provide on the T5008 information return and related forms can be used only for the purposes authorized by law.

Income Tax Act references

Unless otherwise noted, all legislative references are to the Income Tax Act and the Income Tax Regulations.

What's new?

Internet file transfer availability

Internet filing is available from January 9, 2017.

Definitions

These are not definitions provided by the Income Tax Act or Income Tax Regulations. They give only the common usage of the terms for the benefit of the reader.

Agent - A person authorized to act for another.

Amalgamation - Union of different corporations to form a single new corporation.

As principal - On your own account. See Principal.

Banker's acceptance - A draft payable at maturity drawn by a creditor against a debtor. Banker's acceptances are short-term credit instruments that are commonly sold at a discount.

Bearer - The person in possession of a negotiable instrument.

Bearer form - An instrument is in bearer form if its terms say that it is payable to the bearer, or to cash, or if it does not indicate a payee.

Bond - A security under which the issuer contracts to pay the lender a fixed amount at a stated date in the future, and a series of interest payments. Some bonds are issued at a discount instead of providing for interest payments.

Book Value - The initial outlay or price paid by the investor for a security or debt investment. The book value is important in helping the investor keep track of gains (or losses).

Call - A demand on the holder to submit securities for payment or redemption.

Cancellation of securities - An action of issuers who call back their own securities to cancel them and to reduce the amount of outstanding securities.

Capital - All shares representing ownership, including preferred and common shares.

Commercial paper - A negotiable instrument (promissory note, bank cheque) for the payment of money. It is commonly sold at a discount.

Commodities - Staples such as wool, cotton, or any articles of merchandise that are useful or serviceable.

Consideration - Anything received in a transaction (usually cash) including any tangible or intangible property.

Contract - An agreement between persons that creates an obligation. See Option.

Creditor - A person to whom a debt is owed by another person who is the debtor.

Debenture - A promissory note or bond backed by a corporation's general credit rating.

Debt obligation - A fixed obligation to pay money or some other valuable consideration.

Debtor - One who owes a debt.

Deemed disposition - This term is used when you are considered to have disposed of property, even though a transaction did not take place. A deemed disposition occurs when the owner of a security transfers certain property to a trust, gifts property, leaves Canada, or dies.

Discount - The difference between present and maturity value. Buying an instrument before maturity at less than par value.

Draft - An order to pay a sum of money on demand or at a definite time.

Exchange - The market place at which different securities are bought and sold (for example, stock exchange, commodity exchange). It also means a transaction that involves trading one security for another.

Face amount - The nominal value that appears on the face of a document, generally a bond. It is the amount to be repaid at maturity.

Futures - A right to get, at a future date, a quantity of a given commodity for a fixed price.

Holder - A person who possesses a security and who is entitled to get a payment of that security.

Index - A list of the current values of marketable securities given through an exchange (stock, commodities, futures exchanges).

Instrument - Any negotiable written document.

Market value - The current price at which an investor can sell a security or debt investment.

Nominee - A person designated to act for another. An instrument in which the signer promises to pay to a specified person, or the bearer, a sum of money at a specified time.

Note - An instrument in which the signer promises to pay to a specified person, or the bearer, a sum of money at a specified time.

Numismatic coins - Coins or coin-like objects that have a value to collectors.

Option - A right to buy commodities or securities within an agreed period, at a fixed price, or to sell commodities or securities at an agreed price and time. An option to buy is known as a "call" and an option to sell is called a "put".

Par - When the nominal or face value of a security equals its market value, it is trading at par. Par value may also refer to a value stated on securities, especially shares, that does not represent market value. The amount of the issue price or market value that is more than the par value is called a premium.

Partnership - Under Canadian provincial and territorial common law statutes, a partnership is defined as the relation (or relationship) that subsists (or exists) between persons carrying on a business in common with a view to profit. Each person contributes money, property, labour, or a skill, and each expects to share in the profits or losses of the venture. You can have a valid partnership without a formal written partnership agreement.

The type and extent of a person’s involvement in the business are important in determining whether the person is a partner. For more details, see Income Tax Folio S4‑F16‑C1, What is a Partnership?.

If you would like more help to determine whether an arrangement is a partnership, you should also see the relevant provincial or territorial laws. We will usually accept a decision based on those laws.

Precious metal - This means coins, metals (especially gold and silver) before coining, or certificates representing such metals. Precious metal does not include jewellery, works of art, or numismatic coins.

Predecessor - This means one of any number of businesses or corporations that have been incorporated into and replaced by a new business or corporation through an amalgamation.

Principal - This means the capital sum of a debt or obligation, as distinguished from interest or other additions to it. See As principal.

Proceeds - See What are proceeds? for the definition of proceeds.

Prospectus - A document a company publishes to invite the public to subscribe to an issue of shares, debentures, or other securities.

Publicly traded - Listed or posted on any exchange (for example, stock exchange, commodity exchange, futures exchange). Sold or distributed under a prospectus or similar document.

Redemption of securities - An action of issuers who buy back their own securities (frequently shares).

Right - A privilege granted to the holder of a security, such as the right to buy more shares of the issuer or the right to exchange the security held for a different security.

Short Sale - A short sale is a contract for the sale of securities that the seller does not own but that will be delivered at a specified time.

Security - See What are securities? for the definition of a security.

Trader or dealer in securities - A person registered or licensed to trade in securities or a person who ordinarily sells securities for others.

Treasury bill - Short-term obligations of the federal government. Treasury bills are usually for terms of 3, 6, and 12 months.

Warrant - A certificate granting the owner the right to buy securities.

Chapter 1 - General information

To help us process your T5008 returns quickly and accurately, we would prefer that you file over the Internet. Moreover, this may be a requirement for you. For more information, see Chapter 3 - Filing methods.

Use the current versions of the T5008 slip and T5008 Summary when you file your T5008 information return.

This guide does not deal with every tax situation. For a list of publications that explain situations in more detail, see Appendix F - References.

To get our forms and publications, go to Getting forms and publications or call 1-800-959-5525.

See the definitions for definitions of technical expressions.

What are securities?

For the T5008 information return, securities mean:

• publicly traded shares of the capital stock of a corporation;
• publicly traded debt obligations;
• debt obligations of, or guaranteed by:
  • the Government of Canada (such as Treasury bills);
  • the government of a province or territory or its agents;
  • a municipality in Canada;
  • a municipal or public body performing a function of government in Canada; or
  • the government of a foreign country or a political subdivision of a foreign country, including a local authority of such a government;
• publicly traded interests in a partnership or a trust;
• any option or contract for any of the properties listed above;
• publicly traded options or contracts for any property including any commodity;
• publicly traded options or contracts for financial futures, foreign currency, or precious metal; or
• publicly traded options or contracts for any index relating to any property.

What are proceeds?

Proceeds is a term used to describe the amount that arises as the result of a sale, disposition, deemed disposition (see Deemed dispositions), redemption, acquisition, or cancellation of securities, or an exchange or conversion of property. The term does not mean only cash or money. For the purposes of Regulation 230, it includes all consideration, such as cash, debt obligations, shares, and so on, that is paid or payable to the transferor.

Who has to file a T5008 information return?

The following persons have to file a T5008 information return:

• every trader or dealer in securities who buys a security as principal (for their own account) or sells a security as an agent or nominee for any vendor;
• every person in the business of buying and selling precious metals in the form of certificates, bullion, or coins who makes a payment to another person for a sale of precious metals by that other person;
• every person who, as a nominee or agent for another person, gets the proceeds of a sale or other transaction carried out in the name of the nominee or agent;
• every person who makes a payment to, or acts as a nominee or agent for, an individual resident in Canada for the disposition or redemption of a debt obligation in bearer form; or
• every person (other than an individual who is not a trust) who acquires, redeems, or cancels a security issued by that same person, except when the transactions involve the following:
  • exchanges of shares for new shares in the course of a reorganization of the capital of a corporation (section 86), if no consideration other than the new shares is receivable;
  • securities disposed of when a partnership ends [subsection 98(3)];
  • securities transferred when a new partnership is formed from a predecessor partnership [subsection 98(6)];
  • convertible property (section 51), that is, when a corporation's shares, bonds, debentures, or notes are exchanged for shares of the same corporation and no consideration other than the new shares is receivable;
  • redemptions, cancellations, or acquisitions of securities made during an amalgamation (section 87); or
  • exchange of capital property that is a convertible debt obligation for another debt obligation (section 51.1).

When do you not have to file a T5008 information return?

You do not need to file a T5008 information return for:

• a purchase of a security by one trader or dealer in securities from another, other than a non-resident trader or dealer in securities;
• a sale of a security by a trader or dealer in securities for another trader or dealer in securities;
• a sale of currencies or precious metals in the form of jewellery, works of art, or numismatic coins;
• a sale of precious metals if you ordinarily produce or sell precious metals in bulk or commercial quantities;
• a redemption, acquisition, or cancellation of a debt obligation by the issuer or agent when:
  • the debt obligation was issued for its principal amount;
  • the redemption, acquisition, or cancellation satisfies all of the issuer's obligations;
  • there are no disproportionate payments of principal and interest to any person with an interest in the debt obligation; and
  • an information return other than a T5008 information return is required as a result of the redemption, acquisition, or cancellation;
• a sale of securities by a trader or dealer in securities on behalf of a person who is exempt from tax under section 149 (for example, municipalities, registered charities, non-profit organizations, and registered retirement savings plans);
• transactions reported under section 202 or 204 of the Income Tax Regulations;
• a deemed disposition of a security (see Deemed dispositions below for more information); or
• the expiry or exercise of an option, right, or warrant.

Deemed dispositions

You do not have to report deemed dispositions on a T5008 slip.

In certain circumstances, the Income Tax Act considers that a property has been disposed of, even though no real compensation in the form of money or other consideration has been received.

Some examples of when a deemed disposition may occur are:

• transfers of property to a trust;
• gifts of property (that is, the name of the beneficial owner of the property is changed);
• the owner dies; or
• the owner ceases to be a resident of Canada.

In this guide, "sale" generally refers to a transaction where the ownership of property is transferred from one person or entity to another for a sum of money or other consideration. In the case of a deemed disposition, ownership of the property is not transferred for money or other consideration. In addition, a deemed disposition is not a purchase, redemption or cancellation of a security. Consequently, a deemed disposition is not considered for the purposes of Income Tax Regulation 230 and a T5008 slip is not required.

Are you acting as a trustee?

Publicly traded interests in a trust are securities and can be issued in the form of units or shares. The trust, as issuer of these interests, has to report the redemption, acquisition, or cancellation of the units or shares to the beneficial owner. If a trustee acts for the trust, the trustee must report these transactions on T5008 slips.

You have to report income realized by a trust and distributed to its beneficiaries on a T3 slip, Statement of Trust Income Allocations and Designations. This income is gained by holding an interest in the trust, and it is different from the proceeds received from the disposition of those interests.

Due date

You have to file your T5008 information return (slips) on or before the last day of February following the calendar year for which the information return applies. If the last day of February is a Saturday, Sunday, or a public holiday, your information return is due on the next business day. Note that several provinces and territories have their own unique holidays. Therefore, due dates may be affected depending on where you reside. For a list of public holidays, go to Public holidays.

We consider your return to be filed on time if we receive it or if it is postmarked on or before the due date.

You can send recipients an electronic copy of their T5008 slips. The recipient must have consented in writing or by email to receive the slips electronically.

Send the recipients' copies of the T5008 slips to their last known address or deliver them in person. You have to do this on or before the day you have to file the T5008 information return.

Chapter 2 - T5008 information return

General information

A T5008 information return consists of T5008 slips and the related T5008 Summary.

T5008 slip

Use this slip to report one transaction (or more than one transaction involving identical securities for the same client) you made for a person. There are three slips printed on each T5008 sheet.

For more information on how to complete the T5008 slip, see Completing the T5008 slip. For a sample of the slip, see T5008 slip.

T5008 Summary

Use this form to total all the proceeds of disposition or settlement amounts you report on the related T5008 slips.

You have to prepare a separate T5008 Summary when a beneficial owner claims previously unclaimed proceeds of disposition for securities transactions. For more information about unclaimed proceeds of disposition, see Chapter 8 - Unclaimed proceeds of disposition.

For more information on how to complete the T5008 Summary, see Completing the T5008 Summary. For a sample of the form, see T5008 Summary.

Chapter 3 - Filing methods

Internet filing is available from January 9, 2017.

You must file information returns by Internet if you file more than 50 information returns (slips) for a calendar year.

If you use commercial or in-house developed software to manage your business, you can file up to 150 MB by Internet file transfer. For example, a service bureau can file multiple returns in one submission, provided the total submission does not exceed the 150 MB restriction.

Mandatory electronic filing

Failure to file information returns over the Internet

Effective January 1, 2016, if you file more than 50 information returns (slips) for a calendar year and you do not file the information returns by Internet File Transfer or Web Forms, you are liable to a penalty decided follows:

Each slip is an information return, and the penalty we assess is based on the number of information returns filed in an incorrect way. The penalty is calculated according to the type of information return. For example, if you file 51 T5 slips and 51 T5008 slips on paper, we will assess two penalties of $250, one for each type of information return.

Filing by Web Forms

Our Web Forms application is free and secure. To use it, all you need is access to the Internet. With Web Forms you can complete an information return easily, following the step-by-step instructions.

Web Forms lets you:

• file up to 100 slips (original, additional, amended, or cancelled) from our website;
• calculate all of the totals for the summary;
• create an electronic information return containing slips and a summary, which can be saved and imported at a later date;
• print all your slips and your summary; and
• validate data in real time.

After you submit your information return, you will receive a confirmation number that will be your proof that we received it.

To use the Web Forms application, you must have a web access code. If you do not have a web access code, you can easily get one online or by calling us. For more information, see Web access code.

To start using this application or to get more information about Web Forms, go to Web forms.

Filing by Internet file transfer

Internet file transfer allows you to transmit an original or amended return with a maximum file size of 150 MB. All you need is a web browser to connect to the Internet, and your software will create, print, and save your electronic information return in XML format. For information about this filing method, contact your software publisher or go to Internet file transfer (XML).

Web access code

To file your return over the Internet using the Internet file transfer or Web Forms service, you will need a business number and its associated web access code (WAC), unless you are filing through My Business Account or Represent a Client. For more information about these services see next section, Filing without a web access code. The CRA is no longer mailing WAC letters. As a result, you can use the WAC that was issued for the 2012 tax year to file future information returns. If you have misplaced or do not have a WAC, go to Online Web access code. If you cannot get your WAC online or would like to change it, call the e-Services Helpdesk at 1-800-959-5525.

Filing without a web access code

You can file your T5008 information return without a web access code through My Business Account or Represent a Client.

Select the "File a return" option through:

• My Business Account if you are the business owner; or
• Represent a Client, if you are an authorized representative or employee.

If you are already registered for our online services, you can log in using your CRA user ID and password or the Sign‑In Partner option.

To register as a business owner, you will need to enter information from your current or previous year’s income tax and benefit return. You should receive your CRA security code within 5 to 10 days. We will mail it to the address on file for you. The separate mailing of the security code helps to protect you from identity theft and to keep your personal information secure. Have your business number on hand when you register.

To register as a representative (this includes employees of a business), you will need to enter your access code from your notice of assessment and your postal or ZIP code.

Filing using computer-printed (customized) forms

For those who complete a large number of slips, we accept certain slips other than our own. To ensure accuracy, follow the guidelines for the production of customized forms at Customized forms or see Information Circular IC97-2R16, Customized Forms.

Filing on paper

If you file 1 to 50 slips, we strongly encourage you to file over the Internet using Internet file transfer or Web Forms. However, you can still file up to 50 slips on paper.

If you choose to file your return on paper, mail it to:

Data Assessment and Evaluation Programs Division
Ottawa Technology Centre
875 Heron Road
Ottawa ON K1A 1A2

Chapter 4 - Penalties and interest

Late filing and failure to file the T5008 information return

You have to file the T5008 information return (slips) and give the T5008 slips to the recipients on or before the last day of February following the calendar year to which the information return applies. If the last day of February is a Saturday, Sunday, or public holiday, your information return is due the next business day.

We consider your return to be filed on time if we receive it or if it is postmarked on or before the due date.

The minimum penalty for late filing the T5008 information return is $100 and the maximum penalty is $7,500. For the complete penalty structure, go to Penalty for failure to file an information return by the due date.

Failure to provide information on a return

Anyone who prepares an information return has to make a reasonable effort to get the necessary information, including identification numbers, from the individuals, corporations, or partnerships that will get the slips. If you do not do this, you may be liable to a $100 penalty for each failure to comply with this requirement.

Failure to provide an identification number

Individuals, trusts (see note under Box 12 - Recipient identification number), corporations, or partnerships have to give their social insurance number (SIN), their trust account number, their business number (BN) or their account number on request to anyone who has to prepare an information slip for them. A person or partnership that does not do so is liable to a $100 penalty for each failure to comply with this requirement. This penalty does not apply if the person or partnership had applied for, but had not yet received, a SIN, a BN or an account number at the time the return was filed.

A person or partnership that does not have an identification number must apply for one within 15 days of the date of an information request. After receiving the identification number, the person or partnership has 15 days to provide it to the person who is preparing the information return.

Failure to provide a social insurance number (SIN) on a return

Make sure the SIN and name you enter on the T5008 slip for each individual recipient are correct.

If the individual does not give you his or her SIN, you should be able to show that you made a reasonable effort to get it. For example, if you contact a recipient by mail to ask for his or her SIN, record the date of your request and keep a copy of any correspondence that relates to it. If you do not make a reasonable effort to get a SIN, you may be subject to a penalty of $100 for each failure. If you cannot get a SIN from the recipient, file your information return, without the SIN, no later than the due date as defined in Due date. If you do not, you may be subject to a penalty.

A person who does not have a SIN can apply for one at any Service Canada Centre.

For more information, see Information Circular IC82-2, Social Insurance Number Legislation That Relates to the Preparation of Information Slips, or visit the Service Canada website.

Using the identification number

If you have to prepare an information return, or if you are an officer, employee, or agent of someone who does, you cannot knowingly use or communicate an identification number, or allow it to be communicated, without the written consent of the individual, taxpayer, or partnership, other than as required or authorized by law or for the purpose for which the number was provided.

If you use an identification number for unauthorized purposes, you may be guilty of an offence. If convicted, you are liable to a maximum fine of $5,000 or imprisonment of up to 12 months, or both.

Interest

If you fail to pay an amount, we can apply interest from the day your payment was due. The interest rate we use is determined every three months, based on prescribed interest rates. Interest is compounded daily. We also apply interest to unpaid penalties. For the prescribed interest rates, go to Prescribed interest rates.

Cancelling or waiving penalties and interest

The taxpayer relief provisions of the Income Tax Act give us some discretion to cancel or waive all or part of any interest charges and penalties. This allows us to consider extraordinary circumstances that may have prevented you from fulfilling your obligations under the Act. For more information, go to Taxpayer relief or see Information Circular IC07-1, Taxpayer Relief Provisions.

Notice of assessment

We will only issue a notice of assessment for the T5008 information return if we apply a penalty.

Chapter 5 - T5008 slip

Completing the T5008 slip

Before completing the T5008 slips, see Filing methods. We can process your T5008 information return more efficiently if you follow those instructions.

For more information about filing requirements and on the filing methods available, go to Internet file transfer (XML).

Foreign currency reporting

Complete all T5008 slips in Canadian currency. Use the exchange rate that was in effect at the time of the transaction or an average rate that includes the transaction period.

Foreign currency is usually converted to Canadian funds before it is credited to the recipient's account. However, certain taxpayers keep foreign currency accounts and choose to convert their account balances themselves. If you get proceeds of disposition in a foreign currency and deposit the amounts to your client's foreign currency account without converting them to Canadian funds, you can report in the foreign currency that applies. Identify foreign currency amounts by entering in box 13 the applicable currency code under International Standard (ISO) 4217.

Joint ownership

Complete only one T5008 slip to report a transaction even if more than one person owns the securities. Include the names of the joint owners on lines 1 and 2 of the recipient area of the T5008 slip.

Aggregate reporting

You can report more than one transaction involving identical securities for the same client by totalling the amounts and showing them as one transaction. Examples of identical securities are: units of the same mutual fund, all commodity futures, or the same class of stock of the same corporation.

Recipient's name and address

First and second lines - Enter the individual's last name first, followed by the first name and initials or the legal name of the trust, corporation, organization, or institution. Do not enter the name of a secretary, treasurer, or anyone else with signing authority.

Enter any other information, such as the name of a second recipient for a jointly owned security.

In all cases, enter the recipient's full mailing address as follows:

Third, fourth, and fifth lines - Enter the recipient's full address, including city and province or territory (you can leave some lines blank). For the province or territory, use the two-letter abbreviations from Appendix E - Provincial and territorial code.

Postal code - Enter the recipient's postal code.

Name and address of trader or dealer in securities

Give the full name and mailing address of the person required to complete the information return in this area of each T5008 slip. To determine whether or not you have to file a T5008 information return, see Who has to file a T5008 information return?.

Year

Enter the four digits of the calendar year in which the transaction took place.

Void

If you make an error on a T5008 slip, enter a "✓". We will disregard transactions on voided T5008 slips during processing.

Box 10 – Report code

Enter on each slip one of the following codes to indicate whether the slip is:

When using code "A" or "C," enter a description at the top of the T5008 slip (that is, "AMENDED" or "CANCELLED") and include a letter of explanation when you file a copy of the slip. For more details, see Chapter 7 - After you file.

Box 11 – Recipient type

On each T5008 slip, enter one of the following codes to identify the person for whom the transaction was made:

Box 12 – Recipient identification number

If the recipient is an individual (other than a trust), enter the individual's social insurance number (SIN). When you report the disposition of a jointly owned security, enter only the SIN of the first individual you identified as a recipient.

You have to make a reasonable effort to get the recipient's SIN. If you do not, you may be liable to a $100 penalty for each time you do not provide the SIN on a slip. However, when a person tells you that he or she does not have a SIN but is applying for one, make sure you complete and file the return before the filing deadline. If you have not received the SIN by the time you prepare the T5008 slip, leave box 12 blank.

For more information on your obligation to provide a valid SIN, see Failure to provide a social insurance number (SIN) on a return.

If the recipient is a trust , enter the trust account number.

If the recipient is a business (sole proprietor, corporation, or partnership), enter the recipient's business number (BN) or account number, if available.

Box 13 – Foreign currency

You should report all amounts in Canadian currency, unless the transaction meets the requirements explained in Foreign currency reporting.

For Canadian funds, leave this area blank.

Enter the applicable three-character alphabetic or numeric currency code using International Standard (ISO) 4217. If possible, use the alphabetic codes, as follows:

When you report amounts in foreign currency, keep the following in mind:

• print the name of the foreign currency on the T5008 slips (for example, U.S. DOLLARS) beside the "Identification of securities" text above the white box of box 17 for the recipient's benefit;
• if you file your T5008 information return on paper and leave box 13 blank, we will process the amounts on the T5008 slips as Canadian dollars; and
• when completing the T5008 Summary, you only have to enter one amount for total proceeds of disposition, whether or not you complete the T5008 slips in different currencies.

Box 14 – Date (MMDD)

Enter the month and day on which the transaction was completed (the settlement date). For example, if you completed the transaction on May 17, enter "0517". If you are reporting the aggregate of transactions that occurred throughout the year, enter "1231" (December 31). Do not enter the year in this box.

Box 15 – Type code of securities

Indicate the type of security by entering one of the following codes:

These codes are the same as field 35A in the International Standard (ISO) 15022. We have added certain codes and removed others to report transactions as required by the Income Tax Act. However, if you use this standard to record transactions, you can use the field 35A codes and reproduce them without changes.

Box 16 – Quantity of securities

Enter the quantity of securities involved in the transaction. The quantity must be in units that apply to that security (for example, for gold, give the number of ounces).

Box 17 – Identification of securities

Enter a description of the securities in the white box (for example, Treasury bill, banker's acceptance, shares of XYZ Corporation, debt obligation in bearer form).

Box 18 – ISIN/CUSIP number

When the securities are identified by an ISIN number (International Securities Identification Number) or CUSIP number (Committee on Uniform Securities Identification Procedures), enter the number in box 18.

Box 19 – Face amount

If the security represents indebtedness (for example, bonds and other debt obligations), enter the nominal value, in dollars only, that appears on the face of the document (that is, the amount to be repaid at maturity).

Leave this box blank if the security does not have a face amount (for example, shares or commodities).

Box 20 – Cost or book value

Enter the cost or book value, in dollars only, of the securities involved.

Box 21 – Proceeds of disposition or settlement amount

You have to prepare a T5008 slip for all reportable transactions, regardless of the amount of proceeds. There is no administrative limit for reporting securities transactions.

Enter, in dollars only, the total proceeds received by or credited to the recipient in exchange for the securities. We define proceeds in What are proceeds?

Report only the total proceeds in box 21. Do not deduct any expenses from the proceeds and do not report negative amounts. See the related Note of box 21, above.

Boxes 22, 23 and 24 – Securities received on settlement (if applicable)

In some securities transactions, securities are received as proceeds of disposition. This usually happens in exchange or conversion transactions. You should complete boxes 22, 23, and 24 only when you cannot readily determine the value of the securities received on settlement. Do not report any monetary values in these boxes.

Report in box 21 any part of the proceeds that is credited in money.

Certain securities can be redeemed in return for another type of security. For example, bonds may be redeemed for gold. However, gold is often converted, at the fair market value (FMV), and the proceeds (see definition, What are proceeds?) are credited to the recipient. In this case, you have to report these transactions in box 21.

Use boxes 22, 23, and 24 to report the transaction only if you cannot reasonably determine the FMV of the securities obtained on conversion.

The instructions for completing boxes 22, 23, and 24 are the same as those for boxes 15, 16, and 17.

Report sections 85 and 85.1 transactions in these boxes as follows:

• Box 21 – Leave this box blank for these transactions.
• Box 22 – Enter "SHS".
• Box 23 – Enter the number of shares, units, or quantity of any other property or securities received as part of the proceeds of disposition.
• Box 24 – Enter "Section 85" or "Section 85.1," as applicable.

Distributing the T5008 slips

You can send recipients an electronic copy of their T5008 slips, on or before the last day of February following the calendar year to which the information return applies, but they must have consented in writing or by email to receive the slips electronically.

If you are filing on paper, send us each T5008 slip (three slips printed per sheet), along with the T5008 Summary, on or before the last day of February following the calendar year to which the information return applies. Send these forms to:

Data Assessment and Evaluation Programs Division
Ottawa Technology Centre
875 Heron Road
Ottawa ON K1A 1A2

Send two copies of the T5008 slip to the recipient on or before the last day of February following the calendar year to which the information return applies.

You do not have to keep a copy of the T5008 slips. However, you have to keep the information from which you prepared the slips in an accessible and readable format.

Chapter 6 - T5008 Summary

You have to complete a T5008 Summary if you prepare one or more T5008 slips.

Completing the T5008 Summary

Before you complete the T5008 Summary, see Chapter 3 - Filing methods. We can process your T5008 information return more efficiently if you follow those instructions.

Do not include amounts on the T5008 Summary for which you have not prepared a T5008 slip.

Information return for the year ended December 31

Enter the four digits of the calendar year to which the information return relates.

Account number

Enter the 15 characters of your account number in this area. The account number consists of three parts - the business number (BN), the program identifier and the reference number.

• The nine-digit BN identifies the business;
• The two-letter program identifier identifies the type of BN account, in this case, "RZ"; and
• The four-digit reference number identifies each account a business may have.

Please note, in order to create or maintain account numbers, you must be authorized to do so.

Additional T5008 Summary

If this is an additional T5008 Summary, enter a "✓" in the box provided.

You have to file an additional T5008 Summary if you file additional T5008 slips. Include only original T5008 slips with report code "O". For more information, see Chapter 7 - After you file.

Name and address of trader or dealer filing this T5008 Summary

Enter the name and the full mailing address of the person required to complete the information return. To determine whether or not you have to file a T5008 information return, see Who has to file a T5008 information return?.

Language

Enter a "✓" in the appropriate box. Any future correspondence and information we send you will be in the language you choose.

Box 21 – Total proceeds of disposition or settlement amount

Enter the total proceeds of disposition from box 21 of all the T5008 slips you are filing with this T5008 Summary.

Box 40 – Number of T5008 slips you have filed

Enter the total number of T5008 slips you are filing with this T5008 Summary. Do not include in this total any T5008 slips you marked "VOID" or left blank.

Is this T5008 Summary for unclaimed proceeds of disposition account?

Enter a "✓" in the "Yes" box if this is a separate T5008 Summary to report a payment of previously unclaimed proceeds of disposition. If not, enter a "✓" in the "No" box. For more information, see Chapter 8 - Unclaimed proceeds of disposition.

Box 41 – Contact person

Enter the name of a person who can answer any questions we may have about this T5008 information return.

Box 42 – Telephone number

Enter the telephone number of the contact person.

Certification

A person with signing authority has to sign and date the information return in this area of the T5008 Summary.

Filing the T5008 Summary

You can file the T5008 Summary by Internet file transfer or electronic media. For more information, see Chapter 3 - Filing methods.

If you filed on paper, send the completed T5008 Summary, along with the related T5008 slips to:

Data Assessment and Evaluation Programs Division
Ottawa Technology Centre
875 Heron Road
Ottawa ON K1A 1A2

You must send these on or before the last day of February following the calendar year to which the T5008 information return relates.

When a business or activity ends, you have to send the T5008 Summary and the related slips no later than 30 days after the date the business or activity ended.

You may want to keep a working copy of the T5008 Summary for your records.

Chapter 7 - After you file

When we receive your information return, we check it to see if you have prepared it correctly. After an initial review, we enter your return into our processing system, which captures the information and performs various validity and balancing checks. If there are any problems, we may contact you.

Amending, cancelling, adding, or replacing slips

After filing your information return, you may notice an error on the T5008 slips. If so, you will have to prepare amended slips to correct the information.

Amending or cancelling slips over the Internet

To amend a slip over the Internet, change only the information that is incorrect and retain all of the remaining information that was originally submitted. Use summary report type code “A” and slip report type code “A.”

To cancel a slip, do not change any information that was contained on the original slip. Use summary report type code “A” and slip report type code “C.”

For more information about amending or cancelling information returns using the Internet, go to Internet file transfer (XML).

Amending or cancelling slips on paper

Clearly identify the new slips as amended or cancelled by writing "AMENDED" or "CANCELLED" at the top of each slip. Make sure you fill in all the necessary boxes, including the information that was correct on the original slip. Send two copies of the slips to the recipient.

Send one copy of the amended or cancelled slips with a letter explaining the reason for the amendment or cancellation to your tax centre. See the addresses of our tax centres. Do not file an amended or cancelled T5008 Summary.

Adding slips

After you file your information return, you may discover that you need to send us additional slips. If you have original slips that were not filed with your information return, file them separately either electronically or on paper.

If you file additional slips on paper, clearly identify the new slips by writing “ADDITIONAL” at the top of each slip. Send one copy of the additional slips to any tax centre.

We also accept additional T5008 original slips in electronic format. For more information, see Chapter 3, "Filing methods” or go to Internet file transfer (XML).

Replacing slips

If you issue T5008 slips to replace copies that were lost or destroyed, do not send us copies of these slips. Clearly identify them as "DUPLICATE" copies, and keep a copy for your records.

Chapter 8 - Unclaimed proceeds of disposition

Unclaimed proceeds of disposition are proceeds of disposition you get in a tax year for a person (the beneficial owner) who remains unknown at the end of your next tax year. If you still hold unclaimed proceeds then, you have to deduct a specified percentage of tax from these amounts and send it to the receiver general within 60 days.

Remittances

To calculate the tax, subtract any outlays and expenses relating to the disposition of the property from the proceeds of its disposition (if you did not deduct the outlays and expenses in calculating your income). Multiply the result by 50%. Send the tax withheld with a statement showing the period covered, net proceeds, and amount of tax deducted. Send the payment and statement separately from any T5008 information return you may be filing.

If you are a trader or dealer in securities, penalties apply if you do not send amounts withheld. For a first failure in a calendar year, the penalty is 10% of the amount that was withheld but not sent. A second or later failure in the same calendar year could result in a penalty of 20% of the amount that was withheld but not sent.

We will charge you interest on amounts that you do not send as required. Interest accrues at a prescribed rate from the required date of remittance to the date you send it and is payable to the receiver general.

Reporting requirements

If you are a trader or dealer in securities holding an unclaimed amount and you later identify the beneficial owner and pay the amount, you have to prepare a separate T5008 information return. In this case, prepare a separate T5008 Summary and related T5008 slips for the applicable tax year to report the proceeds paid and the tax withheld. The beneficial owner has to calculate the amount of income from these securities transactions and include it in income for the calendar year shown on the T5008 slip. The beneficial owner can claim as a credit the tax you withheld. A non-resident will generally claim the credit in the same way as a resident.

In some cases, you can pay unclaimed proceeds of disposition received in different calendar years to the same beneficial owner in one lump sum. If so, you have to prepare separate T5008 slips for each calendar year in which you received the proceeds.

You also have to report the amount of tax withheld on the T5008 slip. Identify the amount as "TAX WITHHELD" and enter it directly below the recipient's name and address. Enter "UNCLAIMED PROCEEDS OF DISPOSITION ACCOUNT" directly below the name and address of the trader or dealer in securities. There is no separate box to enter this amount.

Appendix A - Flowcharts

Chart 1 - Debt obligations

Debt obligations

Chart 2 - Shares

Shares

Chart 3 - Interest in a trust or partnership

Interest in a trust or partnership

Chart 4 - Other securities

Other securities

Chart 5 - Reporting institutions

Reporting institutions

Chart 6 - Reporting the transactions

Reporting the transactions

Appendix B - Samples of forms

T5008 slip

T5008 Summary

Appendix C - Distributing your copies

How to prepare, distribute and file your T5008 slips with your T5008 Summary.

You can use this form whether you file your information return electronically or on paper. For more information on how to complete the T5008 slip and the T5008 Summary, see Completing the T5008 slip and Completing the T5008 Summary.

When filing electronically: Follow the instructions and technical specifications at Internet file transfer (XML) to file your information return. Produce two paper copies for the recipient and one copy (optional) for your records.

Example

When filing on paper, use one sheet for three different recipients for the copy you are sending to the CRA. Do not separate the slips when you send them with your T5008 Summary. Use a separate sheet for the two copies you are giving to the recipient and the copy you are keeping in your records.

Example

Appendix D - Samples of customized forms

Example 1

Example 2

Appendix E - Provincial and territorial codes

Use the following abbreviations when you enter the province or territory on the T5008 slip and the T5008 Summary.

Appendix F - References

The following publications relate to topics included in this guide and are available by going to Forms and publications or by calling 1-800-959-5525.

Information Circulars

• IC07-1, Taxpayer Relief Provisions
• IC82-2, Social Insurance Number Legislation That Relates to the Preparation of Information Slips
• IC97-2R16 - Customized Forms

Interpretation Bulletins

• IT-95R, Foreign Exchange Gains and Losses
• IT-96R6, Options Granted by Corporations to Acquire Shares, Bonds, or Debentures and by Trusts to Acquire Trust Units
• IT-115R2, Fractional Interest in Shares
• IT-146R4, Shares Entitling Shareholders to Choose Taxable or Capital Dividends
• IT-346R, Commodity Futures and Certain Commodities
• IT-396R, Interest Income
• IT-479R, Transactions in Securities (and its Special Release)

Guides and other publications

• T4015, T5 Guide - Return of Investment Income
• RC4288, Request for Taxpayer Relief – Cancel or Waive Penalties or Interest

Addresses of tax centres

Traders or dealers served by a tax services office in the following list should deal with the corresponding tax centre or office listed beneath it.

Bathurst, Nova Scotia, Kingston, Moncton, Newfoundland and Labrador, Peterborough, Saint John, St. Catharines, and Sydney:

St. John's Tax Centre
Post Office Box 12071, Station A
St. John's NL A1B 3Z1

Chicoutimi, Montérégie-Rive-Sud, Outaouais, Québec, Rimouski, and Trois-Rivières:

Jonquière Tax Centre
2251 René-Lévesque Boulevard
Jonquière QC G7S 5J2

Laval, Montréal, Ottawa, Rouyn-Noranda, Sherbrooke, and Sudbury (Northeastern Ontario ^{Footnote 1} only):

Shawinigan-Sud Tax Centre
4695 - Shawinigan‑Sud Boulevard
Shawinigan-Sud QC G9P 5H9

Belleville, Charlottetown, Hamilton, and Kitchener/Waterloo:

Prince Edward Island Tax Centre
275 Pope Road
Summerside PE C1N 6A2

Sudbury (Sudbury/Nickel Belt ^{Footnote 2} only), Toronto Centre, Toronto East, Toronto North and Toronto West:

Sudbury Tax Centre
Post Office Box 20000, Station A
Sudbury ON P3A 5C1

Calgary, Edmonton, Lethbridge, London, Red Deer, Saskatoon, Thunder Bay, Windsor, and Winnipeg:

Winnipeg Tax Centre
66 Stapon Road
Winnipeg MB R3C 3M2

Burnaby-Fraser, Northern B.C. and Yukon, Regina, Southern Interior B.C., Vancouver, and Vancouver Island:

Surrey Tax Centre
9755 King George Boulevard
Surrey BC V3T 5E1

Online services

My Account

Using the CRA’s My Account service is a fast, easy, and secure way to access and manage your tax and benefit information online, seven days a week.

To register for go to My Account for Individuals. Registration is a two‑step process. You will be asked to enter some personal information and create a user ID and password or use a Sign‑in Partner. Be sure to have your current and previous year’s personal tax returns on hand. To register, a return for one of these two years must have been assessed. After you complete step one, you will have instant access to some of your tax and benefit information. Step two includes the mailing of the CRA security code. We will mail it to the address we have on file for you. The separate mailing of the security code is a measure used to protect you from identity theft and to ensure the security of your personal information. You will have access to the full suite of services available in My Account once you enter your code.

An authorized representative can access most of these online services through Represent a Client.

Handling business taxes online

Save time using the CRA’s online services for businesses. You can:

• authorize a representative, an employee, or a group of employees, who has registered with Represent a Client, for online access to your business accounts;
• request or delete authorization online through Represent a Client, if you are a representative;
• change addresses;
• file or amend information returns without a web access code;
• register for online mail, get email notifications, and view your mail online;
• authorize the withdrawal of a pre-determined amount from your bank account;
• enrol for direct deposit, update banking information, and view direct deposit transactions;
• view the status of filed returns; and
• do much more.

To register or log in to our online services, go to:

• My Business Account, if you are a business owner; or
• Represent a Client, if you are an authorized representative or employee.

For more information, go to E-services for Businesses.

Receiving your CRA mail online

You, or your representative (authorized at a level 2), can choose to receive most of your CRA mail for your business online.

When you or your representative registers for online mail, an email notification will be sent to the email address(es) provided when there is new mail available to view in My Business Account. Correspondence available through online mail will no longer be printed and mailed. To register, select the “Manage online mail” service and follow the steps.

Using our online mail service is faster and easier than managing paper correspondence.

Authorizing the withdrawal of a pre-determined amount from your bank account

Pre-authorized debit (PAD) is an online, self-service, payment option. Through this option, you agree to authorize the CRA to withdraw a pre-determined amount from your bank account to pay tax on a specific date or dates. You can set up a PAD agreement using the CRA's secure My Business Account service at My Business Account. PADs are flexible and managed by you. You can view historical records, and modify, cancel, or skip a payment. For more information, go to Make a payment to the Canada Revenue Agency and select “Pre-authorized debit.”

For more information

What if you need help?

If you need more information after reading this guide, visit our website or call 1-800-959-5525.

Direct deposit

Direct deposit is a fast, convenient, reliable, and secure way to get your CRA payments directly into your account at a financial institution in Canada.

To enrol for direct deposit or to update your banking information, go to Direct Deposit.

Forms and publications

To get our forms and publications, go to Forms or call 1-800-959-5525.

Tax Information Phone Service (TIPS)

For personal and general tax information by telephone, use our automated service, TIPS, by calling 1-800-267-6999.

Teletypewriter (TTY) users

If you have a hearing or speech impairment and use a TTY call 1-800-665-0354 during regular business hours.

Electronic mailing lists

We can notify you by email when new information on a subject of interest to you is available on our website. To subscribe to our electronic mailing lists, go to Electronic mailing lists.

Service complaints

You can expect to be treated fairly under clear and established rules, and get a high level of service each time you deal with the Canada Revenue Agency (CRA); see the Taxpayer Bill of Rights.

You can file a service complaint if you are not satisfied with the service you get from the CRA.

There are three steps to resolve your service-related complaint.

Step 1 - Talk to us first

If you are not satisfied with the service you received, you can file a service complaint. Before you do this, we recommend that you try to resolve the matter with the employee you have been dealing with or call the telephone number provided in the CRA’s correspondence. If you do not have contact information, go to Contact information.

If you still disagree with the way your concerns were addressed, you can ask to discuss the matter with the employee’s supervisor.

Step 2 - Contact the CRA Service Complaints Program

The CRA Service Complaints Program is for individuals and businesses. The program provides another level of review if you are not satisfied with the results from step 1 in the service complaint process. Generally, service-related complaints refer to the quality and timeliness of our work.

To file a complaint with the CRA Service Complaints Program, fill out Form RC193, Service-Related Complaint.

For more information on the CRA Service Complaints Program and how to file a complaint, go to Make a service complaint.

Step 3 - Contact the Office of the Taxpayers' Ombudsman

If, after following steps 1 and 2, your service-related complaint is still not resolved, you can submit a complaint with the Office of the Taxpayers’ Ombudsman.

For information about the Office of the Taxpayers’ Ombudsman and how to submit a complaint, go to Office of the Taxpayers' Ombudsman.

Reprisal complaint

If you believe that you have experienced reprisal, fill out Form RC459, Reprisal Complaint.

For more information about reprisal complaints, go to Reprisal Complaints.

Tax information videos

We have a tax information video series for new small businesses that provides an introduction to topics such as registering a business, GST/HST, and payroll. To watch our videos, go to our Video Gallery.

Due dates

When the due date falls on a Saturday, a Sunday, or a public holiday recognized by the CRA, we consider your payment to be on time if we receive it on the next business day. Your return is considered on time if we receive it or if it is postmarked on or before the next business day.

For more information, go to Important dates for 2017.

Cancel or waive penalties or interest

The CRA administers legislation, commonly called the taxpayer relief provisions, that gives the CRA discretion to cancel or waive penalties or interest when taxpayers are unable to meet their tax obligations due to circumstances beyond their control.

The CRA’s discretion to grant relief is limited to any period that ended within 10 calendar years before the year in which a request is made.

For penalties, the CRA will consider your request only if it relates to a tax year or fiscal period ending in any of the 10 calendar years before the year in which you make your request. For example, your request made in 2017 must relate to a penalty for a tax year or fiscal period ending in 2007 or later.

For interest on a balance owing for any tax year or fiscal period, the CRA will consider only the amounts that accrued during the 10 calendar years before the year in which you make your request. For example, your request made in 2017 must relate to interest that accrued in 2007 or later.

To make a request, fill out Form RC4288, Request for Taxpayer Relief – Cancel or Waive Penalties or Interest. For more information about relief from penalties or interest and how to submit your request, go to Taxpayer relief provisions.