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.
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
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