Canadian charities whose fiscal year end is in 2009 need to file the T3010B within 6 months of the 2009 fiscal year end.  The T3010B is a mixed accounting and legal form that requires more information than the previous T3010A.

Unfortunately in the past Canadian charities often leave the T3010 till the end and I would suggest in 2009 that charities start the process earlier, obtain legal and accounting advice on the T3010B form, and avoid a last minute rush, confusion, anxiety and distraction from mission.  In terms of transparency for most charities the T3010 is most important document.  Donors are increasingly using the T3010 to compare charities and it is important that the filing is accurate, clear, well thought out, and on time.

Mark Blumberg is a lawyer at Blumberg Segal LLP in Toronto, Ontario.  He can be contacted at mark@blumbergs.ca or at 416-361-1982. To find out more about legal services that Blumbergs provides to Canadian charities and non-profits please visit www.canadiancharitylaw.ca or www.globalphilanthropy.ca

This article is for information purposes only. It is not intended to be legal advice. You should not act or abstain from acting based upon such information without first consulting a legal professional.