July 15, 2020
T3010 Registered Charity Information Return Requirements
Charities are organizations that carry on activities which are primarily for the benefit of the public. Under the Income Tax Act (Canada), a registered charity is exempt from income taxes. Although exempt from income taxes, a charity needs to file a T3010 Registered Charity Information Return within 6 months of its fiscal year end. For example, if the charity’s fiscal year-end is March 31, 2021; its return is due by September 30, 2021.
Why file a T3010 Return?
The T3010 Registered Charity Information Return serves the following purposes:
It is published by Canada Revenue Agency (CRA) and available to the public
It provides information to the CRA regarding activities and/or assets held for assessment of sanctions and/or revocation of charity status
It is used to calculate the disbursement quota
What happens if a T3010 Registered Charity Information Return is not filed?
Together with the T3010 Registered Charity Information Return, registered charities must submit the following documents, at a minimum:
Financial statements for the reporting fiscal period. If a charity has annual gross income over $250,000, the CRA recommends that the charity file audited financial statements; otherwise, the financial statements need to be signed by the Treasurer.
Form T1235 – Directors/Trustees and Like Officials Worksheet, which is a list of the charity’s directors for the year, along with a copy of the Board Meeting minutes and the directors’ personal information.
Other forms may be applicable depending on the activities of the charity.
Common T3010 Return Mistakes
The following are a few common oversights in preparation of the T3010 Registered Charity Information Return:
The financial statements have a different fiscal period than the T3010 Return (or are not included with the return)
Failure to file a T3010 Return where the charity is inactive
The qualified donee registration numbers are missing
The T3010 return is addressed to other than Charities Directorate
The certification section was not signed (amongst others)
The CRA’s website provides a T3010 Checklist to help charities to avoid the common T3010 filing mistakes listed above.
We Are Here to Help
Manning Elliott is here to help if you have any questions about filing a T3010 Registered Charity Information Return. To submit an inquiry, please contact a member of our NPO team.
The above content is believed to be accurate as of the date of posting. Tax laws are complex and are subject to frequent changes. Professional advice should be sought before implementing any tax planning. Manning Elliott LLP cannot accept any liability for the tax consequences that may result from acting based on the information contained therein.