When do you have to prepare a T3 slip?

As trustee, you have to complete a T3 slip, Form T3, Statement of Trust Income Allocations and Designations, for each resident beneficiary, including a preferred beneficiary, to whom the trust allocated income in the year. You must also do this for a trust that made any distributions of capital that would result in an adjustment to the adjusted cost base of the beneficiary's interest in the trust.

You do not have to complete a T3 slip for a beneficiary if the income allocated in the year to that beneficiary is less than $100. However, you have to notify the beneficiary of the allocated income since it still has to be reported on the beneficiary's return.

Forms and publications

• Guide T4013, T3 Trust Guide
• Other Publications for Trust

Related links

• What to do when someone has died

Date modified:

2016-01-13