To file a T5013 in Canada, a partnership confirms it meets the CRA’s filing triggers, gathers financial statements and partner identification, prepares one slip for each partner along with the T5013-FIN summary return, and submits the package electronically (or on paper if it has five or fewer slips) by the deadline that matches its partner mix. The partnership itself pays no income tax on the return — each partner picks up their allocated share on their own T1, T2, or T3.
Confirm the Partnership Has to File
Not every partnership files a T5013. The CRA requires the full return when the partnership carries on business in Canada, is a Canadian partnership, or is a specified investment flow-through (SIFT) partnership, and at least one of these applies during the fiscal period:
- Combined absolute value of revenues and expenses exceeds $2 million at fiscal year-end.
- Assets exceed $5 million at fiscal year-end.
- The partnership has another partnership as a partner, or is a partner in another partnership.
- A corporation or trust is a member at any point in the fiscal period.
Farm partnerships made up entirely of individual partners are exempt for the 2025 fiscal year. The CRA renews that exemption year by year, so verify it on the CRA’s filing requirements page before assuming it carries into 2026.
Know Your Deadline
The filing date depends on who the partners are:
- All individual partners (trusts count as individuals): March 31 of the calendar year after the fiscal period ended.
- All corporate partners: five months after the end of the fiscal period.
- Mixed individual and corporate partners: the earlier of those two dates.
Partners must have their individual slips in hand no later than the day you file. Distribution and filing share the same deadline.
Get a Business Number First
A T5013 cannot be filed without a Business Number. Partnerships registered in British Columbia, Manitoba, Nova Scotia, Ontario, or Saskatchewan received a federal BN automatically at provincial registration. Everywhere else, register separately through the CRA’s Business Registration Online service or by filing Form RC1.
Pull the Records You’ll Need
Gather the following before opening the form:
- The partnership’s nine-digit BN and any program account suffixes.
- Exact start and end dates of the fiscal period.
- Financial statements broken down by revenue type, expenses, net income or loss by source (business, rental, investment), and capital gains or losses.
- The partnership agreement showing each partner’s ownership percentage or units.
- Each individual partner’s Social Insurance Number, each corporate or trust partner’s BN, and current mailing addresses for everyone.
- Capital cost allowance schedules: UCC balances, additions, dispositions, and any recapture or terminal loss amounts.
Fill Out the Slip and the Summary
Prepare one T5013 slip per partner. Revenue and expense totals feed the T5013-FIN summary return, and the net figure is split among partners according to the ownership percentages in the partnership agreement. Each partner’s share then lands in the specific numbered boxes on their slip.
The Boxes Partners Actually Use
Which box applies depends on whether the partner is limited or active, and on the type of income:
- Box 104 — Limited partner’s business income (loss) in a multi-jurisdictional partnership. Goes to line 12200 of the T1, unless the partner code is “5,” in which case it flows through Form T2125 to line 13500.
- Box 105 — Limited partner’s at-risk amount. Not an income figure; the CRA uses it to track loss exposure.
- Box 116 — Business income (loss), the general box for multi-jurisdictional partnerships. Non-active partners report on line 12200; active partners route through Form T2125 to line 13500.
- Box 107 — Limited partner’s rental income (loss). Line 7 of Form T776, then line 12600 of the T1.
- Box 110 — Net rental income (loss) for non-limited partners in multi-jurisdictional partnerships. Same path as Box 107.
- Box 151 — Capital gains (losses). Line 17400 of Schedule 3.
- Box 128 — Interest from Canadian sources. Line 12100 via the Federal Worksheet.
- Box 130 — Taxable dividends (other than eligible). Lines 12000 and 12010.
- Box 133 — Taxable eligible dividends. Line 12000.
- Box 168 — Income tax deducted. Line 43700.
The CRA cross-checks every slip against the partner’s own return. Before you submit, confirm that the totals across all individual slips reconcile to the figures on the T5013-FIN. Mismatches trigger reassessment notices for the partners.
Capital Cost Allowance
CCA is claimed at the partnership level, and each partner’s share of the deduction flows through on the slip. Base the claim on the fiscal period, not the calendar year. If depreciable property was disposed of during the year, the partnership may need to report a recapture (added to income) or a terminal loss (an added deduction). The “other information” area of the slip captures these amounts so partners can report them correctly.
Foreign Income and Credits
If the partnership earned foreign income, the jurisdiction box shows a three-letter country code instead of a two-letter provincial code. Box 119 captures foreign business income exempt from Canadian tax under a treaty. Clean Economy Investment Tax Credits and other credits the partnership earned during the year are allocated to partners by ownership stake and recorded in the corresponding box.
Submit the Return
Electronic filing is mandatory if the partnership issues more than five slips in a calendar year. Three channels are available:
- My Business Account, where an authorized member uploads the return directly.
- Represent a Client, used by accountants and other authorized representatives.
- Internet file transfer in XML format, for larger filings; Web Forms is also available for electronic preparation.
Filing on paper when you are over the five-slip threshold triggers a separate penalty tied to the number of slips: $125 for 6 to 50, $250 for 51 to 250, $500 for 251 to 500, $1,500 for 501 to 2,500, and $2,500 for 2,501 or more.
Partnerships with five or fewer slips can mail the paper package to:
Prince Edward Island Tax Centre
275 Pope Road
Summerside, PE C1N 6A2
Save the confirmation number the CRA returns after processing. That number is your proof of filing.
Amending a Slip After Filing
Errors happen. Prepare an amended slip with corrected figures and submit it in the same format as the original: electronic filers amend electronically, paper filers amend on paper. Send only the slips that changed, not the whole set. Send updated copies to the affected partners so they can adjust their own returns.
Penalties for Late or Incorrect Filing
The CRA charges $25 per day for a late T5013 return, with a $100 minimum and a $2,500 maximum per return under subsections 162(7) and related provisions of the Income Tax Act. Late distribution of slips to partners is assessed separately, so a partnership that misses both deadlines can face two penalties. SIFT partnerships that owe tax also accumulate compounding daily interest on the unpaid balance. Repeated late or inaccurate filings can prompt a broader CRA review of the partnership’s records.
If You Have U.S. Partners
The T5013 handles the Canadian side only. A U.S. citizen or resident who holds a partnership interest may also owe the IRS a Form 8865 (Return of U.S. Persons With Respect to Certain Foreign Partnerships) if they control the partnership (more than 50%), own at least 10% while other U.S. persons collectively control it, contributed property exceeding $100,000, or had a reportable change in ownership. The Form 8865 instructions set out the categories, and non-compliance penalties are steep.
To avoid double taxation, U.S. partners can claim a foreign tax credit on Form 1116 for Canadian tax paid through the partnership. The credit is capped at the amount owed under the Canada-U.S. tax treaty; tax paid above the treaty rate does not qualify. Rate differential adjustments apply on Form 1116 when foreign-source income includes qualified dividends or long-term capital gains taxed at preferential U.S. rates. A de minimis exception lets partners with $5,000 or less in total foreign-source income allocate all interest expense to U.S.-source income, which simplifies the calculation.