CRA confirms that an inter vivos trust that is wound up in the year nonetheless has a December 31 taxation year end

The Sched. 15 beneficial-ownership reporting required under Reg. 204.2(1) is applicable to trust taxation years ending on or after December 31, 2023. What if an inter vivos trust (or other trust described in s. 249.1(1)(c)) was fully wound up in 2023 before December 31?

CRA indicated that there is no provision that would cause the trust’s taxation year to be a period other than the calendar year, so that it nonetheless would have a taxation year ending on December 31, 2023. Accordingly, it would be required to provide the Sched. 15 information with its 2023 T3 return.

Neal Armstrong. Summary of 16 May 2024 External T.I. 2023-0986981E5 under Reg. 204.2(1).