Share with your friends

Canada: FATCA and CRS returns, reporting deadlines extended (COVID-19)

Canada: FATCA and CRS returns, reporting deadlines

The Canada Revenue Agency (CRA) announced that the reporting deadlines for information returns related to FATCA and common reporting standard (CRS) are extended to 1 September 2020 (from 1 May 2020) in response to the coronavirus (COVID-19) pandemic.


Related content

According to the CRA, for accounts opened before 1 January 2021, there will be no penalties for failure to collect a self-certification under the FATCA and CRS rules at the time the account is opened.

Read an April 2020 report [PDF 176 KB] prepared by the KPMG member firm in Canada

Read also an April 2020 report [PDF 75 KB] prepared by the KPMG member firm in Canada

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal