Principal Issues: Can the CRA comment as to when trustees will have the ability to verify trust accounts online?
Position: My Trust Account is a new service launched on February 6, 2023. There will be further expansion to service offerings as early as February 2024.
2023 STEP CRA Roundtable – June 20, 2023
QUESTION 13. Trust Online Verification
At present, there does not appear to be an ability to verify trust accounts online through represent a client similar to individuals and businesses. Can the CRA comment as to when it intends to provide such functionality?
CRA Response
The Canada Revenue Agency (CRA) is always on the lookout for ways to make our digital services simpler, more secure, and accessible to all Canadians. My Trust Account is a new service offering by CRA. Launched on February 6, 2023, the initial service offering is limited, but gives those with the appropriate authorization the ability to view and update some account information including address, direct deposit, authorizing a representative, and submitting documents on behalf of the trust. About My Trust Account (footnote 1) includes a table that identifies the authorization levels required to view or make changes to the account. There will be further expansion to service offerings as early as February 2024.
Registering for online access as primary trustees
To gain access to My Trust Account, primary trustees must have an account on the Represent a Client portal with a representative identifier (RepID). (footnote 2) The primary trustee’s name on the CRA trust account must match the name associated with their RepID. If the primary trustee does not have a Represent a Client account, they can register online. (footnote 3)
The primary trustee must be the first to register for online access. To do this they must:
1. Select authorization request, and choose Trust client.
2. Select Primary trustee registration.
3. Provide information about the trust account as part of an enhanced validation process.
After being confirmed as the primary trustee of the trust account, they will receive immediate access to My Trust Account and be able to add additional trustees, or authorized representatives to My Trust Account.
Alternatively, representatives may request authorization for access to My Trust Account using the Authorization request service in Represent a Client. These requests will then need to be confirmed by the primary trustee or other legal representative in My Trust Account.
William King
2023-096661
Response prepared by:
Justin Lawson and Roger Dhillon
T3 Transition Section
Individual Returns Directorate
Assessment, Benefit, and Service Branch
FOOTNOTES
Note to reader: Because of our system requirements, the footnotes contained in the original document are shown below instead:
1 https://www.canada.ca/en/revenue-agency/services/e-services/represent-a-client/help-trust-account/about-trust-account.html
2 https://www.canada.ca/en/revenue-agency/services/e-services/represent-a-client/frequently-asked-questions/frequently-asked-questions-register.html?utm_source=Stakeholder_Desk&utm_medium=External_Email&utm_campaign=No_Signature_Corporate_item+ABSB+Trust_Account&utm_content=2023-03-16_0794&utm_term=MTA_FAQEN%20#q3
3 Represent a Client can be found here: https://www.canada.ca/en/revenue-agency/services/e-services/represent-a-client.html?utm_source=Stakeholder_Desk&utm_medium=External_Email&utm_campaign=No_Signature_Corporate_item+ABSB+Trust_Account&utm_content=2023-03-16_0796&utm_term=MTA_RepClientEN