The CRA has updated its T3010 forms to include the questions on the new qualifying disbursement regime. In other words, if a Canadian charity makes a grant to a grantee that is a non-qualified donee, then they will have to report certain information on the T3010 and also fill in the new Form T1441, Qualifying Disbursements: Grants to Non-Qualified Donees (Grantees).
There was a recent Globe and Mail article “CRA typo causes a multimillion-dollar mistake for the Hewitt Foundation“. This article is a reminder of the importance of the T3010. It is used by many different groups, not only regulators. This article by Paul Waldie is quite interesting. However, I would point out in this short article a number of important omissions.
Corporations Canada will begin issuing to Canada Not-for-profit Corporations Act non-profit corporations Notices of Intent to Dissolve if the CNCA non-profit corporations have not filed their corporate Form 4022 – Annual Return in three years in a row or more. Under Section 222 of the CNCA, Corporations Canada can provide 120 days’ notice to a delinquent non-profit to file their Annual Return and if the Annual Return is not filed within 120 days, the system will automatically dissolve the corporation.