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ARTICLE · 11 SEPTEMBER 2026

Update: Bare Trust Reporting Rules For 2026

Fogler, Rubinoff LLP
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The federal government has finalized revised reporting rules for bare trusts, significantly narrowing the original requirements. While bare trusts are generally exempt from filing for 2023-2025, certain arrangements involving separated legal and beneficial ownership will face new filing obligations starting with the 2026 taxation year, with specific exemptions for family trusts, joint ownership arrangements, and principal residences.

CanadaTax
Julien Cohen
Julien Cohen
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The federal government has finalized revised reporting rules for bare trusts. The new rules are significantly narrower than those originally introduced, but certain bare trust arrangements will still have a filing obligation beginning with the 2026 taxation year.

No filings for prior years

Bare trusts are generally not required to file a T3 Trust Income Tax and Information Return or Schedule 15 for the 2023, 2024 or 2025 taxation years, unless specifically requested to do so by the Canada Revenue Agency. 

New rules beginning in 2026

Beginning with the 2026 taxation year, certain arrangements where one person holds legal title to property for the use or benefit of another person may be required to file a T3 return and Schedule 15. For most calendar-year arrangements, the first filing deadline will be March 31, 2027. 

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