Enhanced financial account information reporting
Canada is committed to international tax cooperation and an important part of that work involves the exchange of information between tax administrations. In recent years, a particular focus has been given to the automatic exchange of financial account information. This cooperation will assist in combating tax evasion and in promoting voluntary compliance with tax laws.
The automatic exchange of financial account information with the United States (U.S.) exists under the Canada-U.S. intergovernmental agreement for the Enhanced Exchange of Financial Account Information with respect to taxes signed on February 5, 2014.
Canada's automatic exchange of financial account information arrangements with jurisdictions other than the U.S. has been implemented in accordance with the Common Reporting Standard (CRS). The implementation of the CRS legislation is effective July 1, 2017.
These pages provide information for Canadian financial institutions and their account holders to help them understand the administrative aspects of the Canada-U.S. intergovernmental agreement and the CRS.
Services and information
- Reporting and sharing of financial account information with the United States
- Reporting and sharing of financial account information with other jurisdictions
- Information for individuals holding accounts with Canadian financial institutions
- Information for entities holding accounts with Canadian financial institutions
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