Canada: Disclosures of nominee agreements due 23 December (Quebec)

Canada: Disclosures of nominee agreements (Quebec)

Taxpayers in Quebec may have to disclose information about nominee agreements.


Quebec recently enacted measures requiring either party to a nominee agreement that is made as part of a transaction, or a series of transactions, to disclose this information by 23 December 2020 or 90 days after conclusion of the nominee agreement (whichever is later).

The obligation applies to all nominee agreements entered into on or after 17 May 2019, as well as certain agreements entered into before this date when the tax consequences continue after 16 May 2019.

Taxpayers must meet this new requirement by filing a prescribed form for qualifying nominee agreements even if they already disclose details of such an arrangement in their provincial tax return. Taxpayers that do not disclose the subject nominee agreements may face penalties of up to $5,000.*

Read an October 2020 report [PDF 93 KB] prepared by the KPMG member firm in Canada

*$ = Canadian dollar

© 2022 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained 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