Personal Finance

When do financial institutions have to provide T3?

  • Last Updated:
  • Apr 19th, 2020 3:28 pm
[OP]
Deal Addict
May 11, 2003
2601 posts
417 upvotes

When do financial institutions have to provide T3?

Wanted to do my taxes but I'm missing a t3. Was the deadline for a financial institution to provide a t3 pushed out too, or did it get lost in the mail?
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5 replies
Deal Addict
User avatar
Aug 7, 2010
1035 posts
392 upvotes
e-man wrote: Wanted to do my taxes but I'm missing a t3. Was the deadline for a financial institution to provide a t3 pushed out too, or did it get lost in the mail?
Deadline for T3 Tax Slips

"Unlike most other tax slips, T3 tax slips do not have to be mailed until the last day of March the year after the calendar year to which the T3 tax slips apply."
Sr. Member
Nov 25, 2003
576 posts
297 upvotes
BC [what me worry?]
Register to access your account on the CRA website. You'll be able to tell if you're missing any mailed receipts. It won't tell you obviously on what companies have yet to mail them out in the first place.
I've been away for a while....
Deal Addict
Jul 15, 2009
2203 posts
1352 upvotes
Some companies provide them online in their online banking.
Deal Addict
User avatar
Mar 25, 2012
1864 posts
1049 upvotes
Kelowna
I don't think it's FI-specific. It has to do with the type of income. I'm not sure whether there's a minimum reporting threshold like T5s ($50 per account or client, per annum).

As was said above, @bubak had the best reply because more commonly, T3s are provided via online reporting systems. The worst offenders of paper-only reporting tend to be smaller banks and credit unions, and has to do with paper-based T5s. T3s, by contrast, are commonly issued by the mutual fund dealing or self-directed discount brokerage firm, the majority of which provide electronic tax slips. CRA My Account would be second choice, but note that the FI may provide the information to the CRA by deadline, but the CRA is delayed in batch processing the upload. This is likely the case this year as CRA staff have been reallocated to deal with COVID-19-related issues, with other duties potentially pushed out to the end of the year.

If it's an ETF or REIT, also check the TMX Group' CDS website, which has an online tool for checking out each issuer's T3 breakdown. You simply use the per-share amounts to calculate your own T3.

Cheers,
Doug
Member
May 24, 2018
449 posts
285 upvotes
Ontario
e-man wrote: Wanted to do my taxes but I'm missing a t3. Was the deadline for a financial institution to provide a t3 pushed out too, or did it get lost in the mail?
If you want to do you taxes, then do it. No need to hold the train on a single T3 (unless it's a significant amount to your tax file). It is possible to amend later and pay for the taxes owed.

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