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Canada: Updated CRS guidance

The update broadens the circumstances under which a partnership may be considered a Canadian resident for CRS purposes.

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January 28, 2026

The Canada Revenue Agency (CRA) in December 2025 released an updated version of its common reporting standard (CRS) guidance.

The update broadens the circumstances under which a partnership may be considered a Canadian resident for CRS purposes, while narrowing the conditions under which a trust will be treated as a Canadian resident. As a result of this change, certain partnerships may now have CRS due diligence and reporting obligations in Canada, even if they are subject to CRS obligations in another jurisdiction.

Read a January 2026 report prepared by the KPMG member firm in Canada

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