The Canada Revenue Agency has refreshed its online guidance on enhanced trust reporting rules, confirming that bare trusts remain exempt from filing T3 returns and Schedule 15 for taxation years ending December 31, 2024 through December 30, 2026.
This clarification appears in the Enhanced reporting rules for trusts and bare trusts FAQ and the related Who should file page, both updated after mid-June 2026. The pages explicitly reference Bill C-15 provisions that define reportable bare trusts and set the new filing start date for years ending on or after December 31, 2026, subject to the exceptions listed in subsection 150(1.31).
Voluntary filings for earlier years continue to be accepted but are not required. No additional court decisions, Department of Finance announcements, or legislative changes have been noted since the June 13, 2026 reference point in the CRA materials.
For Canadian investors holding assets through informal or bare trust structures, the update provides a clear compliance window. Arrangements that currently qualify as bare trusts will not trigger annual trust reporting until the 2026 taxation year at the earliest, allowing time to review documentation ahead of the expected further CRA guidance.
Key points from the updated CRA sources include:
- Bare trusts are not subject to the enhanced reporting rules for years ending December 31, 2024 through December 30, 2026.
- Only reportable bare trusts as defined in Bill C-15 face filing requirements beginning with years ending December 31, 2026.
- Direct links to the enacted legislation are now included on the FAQ and trust-type pages.
Investors should monitor the CRA site for the additional details promised before the first filing season under the new rules.