Can financial institutions provide their clients with electronic copies of information slips on a secure website, in addition to the paper copies, without the written consent of their clients? After quoting Reg. 209(3), the Directorate stated:
[T]he above provision clearly says that the particular documents may be sent electronically only where the Issuer has received the taxpayer’s express consent. In our opinion, this means the Issuer cannot send the particular documents electronically without obtaining the express consent of the taxpayer, even where the Issuer has otherwise fulfilled the subsection (1) requirement by sending the paper copies separately.
[Reg.] 209(4) … defines express consent to be consent given in writing or in an electronic format. …[T]he only exception to this requirement is in subsection 209(5) …[which] permits an Issuer to provide T4 information returns electronically to a taxpayer without having received the taxpayer’s express consent provided certain criteria are met.