- Dynamically Generated: December 29, 2020 at 18:36, Authorizing or Cancelling a Representative, Guide to Completing the Estate Information Return, Retention/Destruction of Books and Records, Ontario Cannabis Legalization Implementation Fund, Save it to your computer by right clicking on the link and selecting “Save Link As…”, Save the file on the desktop (default selection) or browse to save the file in the directory of choice, Once the file is saved, open the saved file using Adobe Reader. Tax Secrets for Ontario’s New Estate Information Returns – Part 2. The Estate Information Return can be filed online, by mail, by fax, in person, or by courier. For further information, refer to the Ministry of the Attorney General website. It will be used by the Ministry of Finance to enforce compliance with the Estate Administration Tax Act, 1998. Change To The Estate Information Return Form “But on January 1, 2020, the Ontario Government made changes to the reporting requirements,” says Ioulia. Overview In 2015, Ontario introduced a mandatory Estate Inventory Disclosure process. “This affects anyone who has applied and received a Certificate of Appointment as an Estate Trustee from a Superior Court in Ontario after January 1, 2020.” Purpose of Form: To be used by the Ministry of Finance to enforce compliance with the Estate Administration Tax Act, 1998. The Ministry of Finance now requires executors of an estate to file an Estate Information Return. An estate trustee who applies for a Certificate of Appointment of Estate Trustee (“probate”) must file an Estate Information Return (“EIR”) with the Ministry of Finance within 90 days after the issuance of probate. You may also want to ask your financial institution if it has any information available to help you settle the estate. Budget This chapter explains how to complete and file the final return. Branch/ABC: Advisory, Objections, Appeals and Services Branch. An estate trustee who applies for a Certificate of Appointment of Estate Trustee (“probate”) must file an Estate Information Return (“EIR”) with the Ministry of Finance within 90 days after the issuance of … Deadlines for filing an Estate Information Return … Your duty as estate trustee is to provide values for all estate assets. Now, although these changes are welcome, they are … Fair market value of estate assets is required as of the date of death. Within 90 days of receiving this certificate, the Estate Trustee, must submit an Estate Information Return by courier, mail, fax, at selected Service Ontario locations, or in person to the Ministry of Finance 33 King Street West P.O. The Estate Trustee or Executor must file an Estate Information Return to the Ontario Ministry of Finance within 90 calendar days of the issued Certificate of Appointment. Adobe PDF format: - - Guide - Estate Information Return_After January 1, 2020 Once the executor has settled the estate, they must ask the CRA for a Clearance Certificate which confirms all income taxes have been paid or that the CRA has accepted security for the payment. © Queen's Printer for Ontario, 2008Last Modified: For further details, there is an abundance of helpful information available on the Ontario Ministry of Finance’s website. Estate Information Return This return is to be completed in addition to an application for a certificate of appointment of estate trustee submitted to the Courthouse (Ministry of the Attorney General). For more information, visit the Ministry of Finance website. Help | Contact Us | Privacy | Important NoticesWOULD YOU LIKE TO RATE OUR SERVICE? Adobe PDF format: - - Estate Information Return (Online Submission)_After January 1, 2020. Skip to content Box 625 Oshawa, Ontario L1H 8H9, Fax 1-866-888-3850. Protecting Your Information: If you are using this online service on a shared computer in a public area (i.e. Economy Ontario.ca Estate Administration Tax Act – The New Reporting Requirements by Dave Thomas A new reporting regime has started for Estate Trustees in Ontario. FAQs This is a detailed inventory reflecting everything a person owned at death and the value of those assets. TIP # 3 Delivery Options for the Estate Information Return. If you applied for a Certificate of Appointment of Estate Trustee after January 1, 2020, please refer to the form and guide After January 1, 2020. Any taxes owing from this tax return are taken from the estate before it can be settled (dispersed). A new ‘Estate Information Return’ (form 9955E) must be completed and received by the Minister of Finance within 180 calendar days after an estate trustee is appointed. This return is added to any income tax returns or probate applications that are the executors responsibility. Final return. Failure to file the required Estate Information Return can result in the estate administrator being found guilty of an offence. Fill out the Estate Information Return Within 180 days of getting the Certificate of Appointment of Estate Trustee without a Will, you must fill out and send an Estate Information Return to the Ontario Ministry of Finance. In certain circumstances, the estate administration tax paid may be calculated on an estimated value of the estate.. The return asks for a … Box 625 Oshawa, ON L1H 8H9. Ontario estate law is premised upon the concept that trustworthy people are appointed as estate trustees, that they perform their duties without interference, and then provide an accounting to the beneficiaries. Beneficiaries may attempt to prevent the appointment of an unsuitable estate trustee by ‘objecting’. For information about estates and applying for a Certificate of Appointment of Estate Trustee, visit How to apply for probate in Ontario. Home Newsroom Services Your Government About Ontario. Ministry: Finance. Anyone who has, after January 1, 2015, applied for and received a Certificate of Appointment as Estate Trustee from the Superior Court, must file a detailed Estate Information Return with the Ministry […] Fill out the Estate Information Return Within 180 days of getting the Certificate of Appointment, you must fill out and send an Estate Information Return to the Ontario Ministry of Finance. Form Number: 9955E. In these circumstances, you must: Electric Vehicle Incentive Program Application Form [PDF - 81 KB]Form number: 2096 Eligible Investments - Partnerships/Joint Ventures - Capital Tax [PDF - 619 KB]Form number: 1349 Adobe PDF format: - - Guide - Estate Information Return_Up to December 31, 2019 If you have trouble accessing one of these documents in your browser: To obtain the most current version of this document, visit ontario.ca/finance and enter 3318 in the find page field at the bottom of the webpage or contact the ministry at 1 866 668-8297 (1 800 263-7776 for teletypewriter). Purpose of Form: To be used by the Ministry of Finance to enforce compliance with the Estate Administration Tax Act, 1998. Providing financial information about the estate to the beneficiaries When settling an estate, you should consult a legal advisor to answer any questions or concerns you may have. An Estate Information Return can also be filed by fax to 1-866-888-3850. Contact Us. Changes to Estate Administration Tax and Estate Information Return Reporting The Ontario Government has implemented a couple of changes to the calculation of Estate Administration Tax (EAT) which came into effect on January 1, 2020. During the 2019 Budget, the Ontario government also proposed to extend the deadline for filing Estate Information Returns (“EIRs”). Edition Date: 2019/12. Français, Home It is best to speak with a lawyer about your new role as an estate trustee. As of January 1, Ontario executors (known as estate trustees) must file an Estate Information Return detailing the valuation of specific assets in an estate. Source Links: Program: Estate Administration Tax - Advisory & Compliance Branch. 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