Canada: Updated instructions for FATCA returns

Canada: Updated instructions for FATCA returns

The Canada Revenue Agency updated the instructions for FATCA returns—effective from May 2021.


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The updated instructions include the following:

  • Financial institutions must keep track of which “slips” belong to which reporting financial institution record, so that an amended, cancelled or fixed return filing is targeted to the correct reporting financial institution record.
  • Financial institutions will no longer be able to file an amended return without a slip.
  • A reporting financial institution may cancel its record, but only if all associated slips are cancelled.

Read a July 2020 report [PDF 79 KB] prepared by the KPMG member firm in Canada

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