Straight Talk
CRA is extending the transitional period to December 31, 2012
In the spring of 2011, the Canada Revenue Agency (CRA) announced stricter requirements in the amount and type of information non-Canadian-resident investors must provide in order to continue to receive Canadian-source income at tax treaty rates effective January 1, 2012. The CRA issued three new forms (NR301/2/3) for the declaration of eligibility of treaty benefits for non-Canadian-resident investors which they recommended that nominees/agents or financial intermediaries collect the new forms from their underlying non-Canadian resident clients who are the beneficial owners.
We are pleased to advise you that today the CRA announced that it is extending the transitional period by one year until December 31, 2012. This will allow our clients additional time to gather and submit information to CIBC Mellon that is required.
For more information, please visit the CRA's website.
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Straight Talk is provided for general information purposes only and CIBC Mellon Global Securities Services Company, CIBC Mellon Trust Company, CIBC, The Bank of New York Mellon Corporation and their affiliates make no representations or warranties as to its accuracy or completeness, nor do any of them take any responsibility for third parties to which reference may be made. Readers should be aware the content of this publication should not be regarded as legal, accounting, investment, financial or other professional advice nor is it intended for such use.