COVID-19: Investment fund industry updates (June 5, 2020)
CRA Requirement to Pay Notices
The CRA received feedback from various industry organizations – including IFIC – that the relief on Requirements to Pay (RTPs) should be expanded beyond banks and employers.
It is our understanding that the CRA will act on that feedback, and will revise the wording of the relief on Requirements to Pay to:
Banks, employers and other third parties do not need to comply or remit on existing RTPs during this time.