Form L400-3 Non-resident - Records Kept Outside Canada - Canada

Form L400-3, Non-resident - Records Kept Outside Canada, is used by non-resident individuals or businesses that have Canadian-sourced income but keep their financial records outside of Canada. This form is required by the Canada Revenue Agency (CRA) to report and track the income and taxes owed by non-resident individuals or businesses.

The non-resident individual or entity files the Form L400-3 - Non-resident - Records Kept Outside Canada in Canada.

Form L400-3 Non-resident - Records Kept Outside Canada - Canada - Frequently Asked Questions (FAQ)

Q: What is Form L400-3? A: Form L400-3 is a tax form for non-residents who keep their records outside of Canada.

Q: Who needs to use Form L400-3? A: Non-residents who keep their records outside of Canada.

Q: What kind of records need to be reported on Form L400-3? A: Any records that non-residents keep outside of Canada.

Q: Why do non-residents need to report their records on Form L400-3? A: To comply with Canadian tax regulations and provide documentation of their financial activities in Canada.

Q: When is the deadline to file Form L400-3? A: The deadline to file Form L400-3 is typically within six months after the end of the tax year.

Q: Are there any penalties for not filing Form L400-3? A: Yes, non-residents may face penalties for not filing Form L400-3, including fines and possible legal consequences.

Q: Can I file Form L400-3 electronically? A: No, Form L400-3 cannot be filed electronically, and must be submitted by mail or courier to the CRA.

Q: Can I get an extension to file Form L400-3? A: Yes, you can request an extension to file Form L400-3, but it must be done before the original deadline.

Q: Do I need to include any supporting documents with Form L400-3? A: You may need to include supporting documents with Form L400-3, such as bank statements or financial records, depending on your specific situation.