Trust2File Bare Trust T3 Compliance for Canadian Property Managers

Trust2File streamlines the complex process of bare trust compliance for property management portfolios, addressing the recent CRA requirements set forth by Bill C-32.

Canadian Property Managers must now file T3 and Section 15 forms for all brokerage trust accounts and shared corporate bank accounts.

Aargh Software Trust2File software automates bare trust T3 filing and compliance for Canadian property management firms.

For Canadian Property Managers and Financial Firms

By law, bare trust T3-RET filings are required annually for Bare Trusts starting in 2023; filings should be completed by April 2, 2024.

CRA has waived the filing deadline for this first year, especially for proactive property managers who are in the process of completion.

If the trust fails to file—knowingly or due to gross negligence— the penalty will be the greater of $2,500 or 5% of the maximum value of each property held during the year.

"Why should we use Aargh for our T3 Filings?"

T3, S15 and T183-trust23e screen shots in technology and Aargh Software Trust2File for T3 preparation and filing in Canada

As a Canadian Software company, Aargh has a history of handling high-volume automation for property managers. The Aargh team has extensive experience in the Canadian tax and accounting software industry, and first-hand experience with Condo/Strata Broker requirements.

The complexity of T3 compliance isn't because the T3 return and Schedule 15 are complicated. Bare Trust T3s are complicated because Property Management Firms deal with so many of them.

Trust2File simplifies the trust engagement with your firm and accurate eFiling of your T3-RET returns directly with the CRA, in bulk, resulting in cost savings.

Fast and Easy to Get Started

Aargh provides standardized spreadsheet templates that allow you to extract accurate data from your systems effortlessly. You can also manually edit the necessary information.

Once we have the data set up, all your T3 returns in minutes.

Less Effort and Fewer Mistakes

The more manual processes there are, the harder it is to file a large number of bare trust returns.

Automation ensures that accuracy is 100% for all corporations. Automation also handles communication to stakeholders.

Efficient and Inexpensive

Automation provides not only less effort and fewer mistakes, but it's also the least expensive!

Our servers can provide scale; we've processed over 250,000 resident emails on behalf of property management firms.

Reduce Risk To Your Business

Aargh provides signed Engagement Letters and completed T183-trust32 forms for each trust account. We give you all CRA Forms in PDF, including T3-RET, S15 and T3 assessment. All of your data is stored on secure 128-bit encrypted servers on Canadian soil.

Client Testimonial

"We didn't even have a plan for bare trust T3 filing. We had no idea it was happening, let alone how to deal with. With Aargh, now we have a plan.”
~ Alex Casuga, Associa Director of Branch Operations