Trust Reporting – Firm Resources



We understand the challenges that come with keeping up with tax changes, in the ever-evolving landscape of tax regulations.  We are committed to providing you with the most up-to-date resources and guidance.

We have updated our Firm Resources (as at January 14th, 2024) to assist you with the new Trust Reporting requirements. The update includes the latest guidance provided by the Canada Revenue Agency (CRA). For those who have previously purchased our Trust Reporting – Firm Resources you will have received a direct email with the new and updated material.  For those Firms who are looking for resources to assist in communication with clients and gathering the necessary information to file these T3 returns, our firm resource package includes:

  • Draft communication for distribution to your clients via email or your newsletter (word)
  • Draft communication for distribution to lawyers specific to the requirements as they relate to the Law Firms trust accounts (word)
  • Draft communication to beneficiaries to request necessary personal information (word)
  • Data sheet which includes all the information firms will need to accumulate in order to file the T3 (word/excel)
  • Clearline’s CPA’s firm tailored T3 engagement letter **
  • Clearline’s T3 checklist **

Additional resources added January 2024:

  • Draft communication for distribution to your clients to identify common bare trust arrangements
  • Bare Trust T3 checklist
  • Template for Summary of Trust, including an example of Summary of Trust
  • Copy of Guidance from CRA (dated December 12, 2023)

**Please note CPA Canada’s version of a T3 Engagement Letter and Checklist are available to firms who have the Practice management, advisory, compilations and tax guide (PACT) subscription. If there is limited value to your firm in the above noted communication and template resources, you should refer to your PACT subscription.**

Upon checkout, you will receive an email with multiple word, excel and PDF documents for download.


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