What is an estate information return in Ontario and when do I need to file one?

The estate information return is a document that executors in Ontario must file with the Ministry of Finance after obtaining a Certificate of Appointment of Estate Trustee. It reports the value of the estate assets that were used to calculate the estate administration tax.

The purpose of the return is to allow the province to verify that the correct amount of estate administration tax was paid at the time of the probate application. Executors have a set number of months after the certificate is issued to file the return, and the form requires a detailed listing of all estate assets and their values.

If the return reveals that the original tax payment was understated, additional tax and interest may be owing. If it was overstated, a refund may be available. Executors should keep thorough records of asset values as of the date of death, as these values underpin both the initial tax calculation and the information return. An estate lawyer or accountant can help prepare and file this return accurately.