If you are acting as an estate trustee (also referred to as an “estate administrator” or “estate executor”) and have been issued a Certificate of Appointment of Estate Trustee, do not forget to file the Estate Information Return (EIR) form with the Ontario Ministry of Finance.
The EIR provides information to the Ministry of Finance under the Estate Administration Tax Act, 1998, and must be filed by anyone who received a Certificate of Appointment of Estate Trustee (ie. probate), even if the value of the estate is equal to or less than $50,000 and no estate administration tax was paid. When submitting the return, the estate trustee is required to set out in detail the assets of the deceased and how the amount of the estate administration tax paid at the time that the Certificate of Appointment of Estate Trustee was applied for was calculated.
The initial return must be received by the Ministry within 180 calendar days after the Certificate of Appointment of Estate Trustee is issued. Further, if within four years after the issuance of the Certificate of Appointment, an estate trustee becomes aware that the information submitted was incorrect or incomplete, the trustee must deliver an amended return to the Ministry of Finance within 60 calendar days of the trustee becoming aware of the inconsistency. Failure to file the form, or making false or misleading information in the form, could lead to fines or even imprisonment.
The form is available on the Ontario Central Forms Repository website at https://forms.mgcs.gov.on.ca/en/dataset/9955, and can be submitted either online or by mail.
Werhun Law is a law firm located in Etobicoke serving the Greater Toronto Area. Werhun Law provides services primarily in residential and commercial real estate, mortgages, commercial leasing, and wills and estates. If you have any questions or are in need of legal services you can contact us at info@werhunlaw.com.
The information in this post is for general informational purposes only. It does not constitute legal advice and does not create a solicitor-client relationship.
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