Jurisdiction · Canada
Canada FATCA & CRS reporting, Part XVIII and Part XIX.
Canadian financial institutions file FATCA returns under Part XVIII and CRS returns under Part XIX of the Income Tax Act. Novus prepares CRA-ready XML for both, validated before you file.
01Reporting requirements
Canada at a glance.
Canadian financial institutions file FATCA returns under Part XVIII and CRS returns under Part XIX of the Income Tax Act, both electronically with the CRA.
- Reporting authority
- Canada Revenue Agency (CRA)
- FATCA legal basis
- Part XVIII of the Income Tax Act
- CRS legal basis
- Part XIX of the Income Tax Act
- FATCA schema
T619_PartXVIII.xsd- CRS schema
- OECD CRS XML schema
- FATCA model
- Model 1 IGA: Canadian FIs report to the CRA, which exchanges with the IRS
02Canada specifics
Two parts, two frameworks.
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01 / Rule
Part XVIII: FATCA
Covers the FATCA obligations of Canadian FIs with US reportable accounts.
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02 / Rule
Part XIX: CRS
Covers CRS obligations for reportable accounts held by non-residents in participating jurisdictions.
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03 / Rule
Electronic filing
Both returns are filed electronically with the CRA.
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04 / Rule
Nil returns
Nil returns are accepted and follow the same schema requirements.
03How Novus helps
From source data to a file ready to upload.
Novus prepares and validates both returns. You file them with the CRA through your institution’s own electronic filing channel.
- Generate CRA-ready XML for both Part XVIII (FATCA) and Part XIX (CRS).
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Validate against
T619_PartXVIII.xsdand the OECD CRS schema before you file. - Handle multi-jurisdiction reporting for Canadian FIs with foreign branches.
- Validate TINs against Canadian, US and OECD country rules.
- Start from your existing Excel or CSV data.
FAQ
Canada FATCA & CRS questions
Something else? Ask our team
How do Canadian FIs file FATCA and CRS returns?
Electronically with the Canada Revenue Agency (CRA). The specific submission channel depends on your FI type and filing volume.
What is the difference between Part XVIII and Part XIX?
Part XVIII covers FATCA reporting obligations; Part XIX covers CRS reporting obligations. Both are part of the Income Tax Act, but they serve different exchange frameworks.
Does Canada use Model 1 or Model 2 FATCA?
Canada operates under a Model 1 IGA. Canadian FIs report to the CRA, which transmits the information to the IRS.
Can Novus generate both FATCA and CRS XML for Canada?
Yes. Novus produces Part XVIII FATCA XML and Part XIX CRS XML from the same source data in one workflow.
Filing in Canada? Validate before you upload.
See how Novus prepares Canada FATCA and CRS files from your existing data, in a 20-minute demo.