How the T5013 partnership information return works and benefits for small businesses

Published Wednesday 26 November 2025

Table of contents

• What is a partnership?
• What is a T5013 partnership information return?
• Who needs to file a T5013?
• Different requirements for different partner types
• Completing the T5013 partnership information form
• Filing the T5013 form
• How to report T5013 income on your personal tax return
• Managing partnership finances with confidence
• FAQs on T5013 forms

Key takeaways

• File a T5013 partnership information return if your partnership meets specific criteria including combined revenue and expenses exceeding $2 million, global assets over $5 million, or activities like allocating losses to limited partners or having non-resident partners.

• Complete four essential documents when filing: the T5013 FIN (Partnership Financial Return), required schedules based on your partnership activities, individual T5013 slips for each partner, and the T5013SUM summary that consolidates all partner allocations.

• Meet filing deadlines based on your partner types to avoid penalties—March 31 if all partners are individuals, or five months after the fiscal period end if any partners are corporations.

• Use information from your T5013 slip to report partnership income on your personal or corporate tax return, maintaining the original income type (such as rental or business income) when transferring amounts to the appropriate tax return lines.

What is a partnership?

A partnership is a business alliance between two or more entities that join together to operate a business or trade. Partners typically contribute different elements:

• Financial investment: One partner provides funding
• Labour and expertise: Another partner handles operations
• Resources: Partners may contribute equipment, property, or specialized skills

Create a written agreement that explains how you will split profits and losses, and how you will manage work, decision-making and financial investment.

Partnerships can have income from:

• the business's operations
• commissions
• investments
• rental property
• other sources, such as farming, fishing and interest income

Calculate profit or loss for each income source separately.

Partnership structures

There are three types of partnership structures in Canada.

General partnership

You can form a general partnership (GP) with an oral or written agreement. You do not need to file any formal business documents. All partners share equal liability for debts and losses.

Limited partnership

In a limited partnership (LP), there can be two different types of partners – a general partner and a limited partner. While the general partner manages the business, the limited partner only contributes capital and isn't involved in running the business. Liability is limited to the amount of capital agreed to be contributed.

Partners in an LP must file a Certificate or Declaration of Limited Partnership, and register with a provincial authority.

Limited liability partnership

A limited liability partnership offers some legal protection for the personal assets of the partners. Filing requirements are also affected if the partnership has a corporation or a trust as a partner. This means you may not be personally responsible for business debts or your partners' mistakes.

What is a T5013 partnership information return?

Subsection 229(1) of the Income Tax Act states that many Canadian partnerships, and partnerships that carry out business in Canada, must file a T5013 Statement of Partnership Income.

The form is informational only – it provides basic financial information about a partnership, such as net income or losses from the previous year. It is part of the partnership's tax preparation when it files its tax return.

The Canadian Income Tax Act does not treat partnerships as entities that pay taxes. This means that income goes to the partners, and is reported and accounted for through either their personal or corporate tax returns. The T5013 fills the gap and allows the CRA to compare and check that the information on their returns is correct.

Individuals must complete the T1 income tax and benefit return reporting on their income for the previous tax year. Corporations must complete the T2 corporation income tax return. To claim partnership expenses as an individual, members of a partnership can file the Employee and Partner GST/HST Rebate Application (form GST370).

If you are a non-resident earning income in Canada, you must pay tax and complete the T5013 form. If you pay a non-resident for services in Canada, you must withhold 15 percent of the payment and send it to the Canada Revenue Agency.

If your partnership is in Quebec, you may need to report your share of business income or losses on a provincial form, even though partnerships are not subject to tax in Quebec. Some partnerships are exempt.

Who needs to file a T5013?

You must file a T5013 if your partnership meets any of these criteria:

Financial thresholds:

• Revenue and expenses combined exceed $2 million. To determine if your partnership exceeds the $2 million threshold, add total worldwide expenses to total worldwide revenues.
• Global assets exceed $5 million. The Canada Revenue Agency specifies that the cost figure of all assets worldwide – both tangible and intangible and without depreciation – should be used for this calculation.
• Exception: Farming partnerships reporting only farming income

Partnership activities during the tax year:

• Allocates losses to limited partners
• Has a non-resident partner
• Makes distributions to partners
• Claims resource-related deductions

Different requirements for different partner types

The deadline for filing the T5013 return depends on the type of partners in your partnership. Check your partnership type to avoid late filing penalties.

• If all partners are individuals, the deadline is March 31 of the year following the calendar year in which the fiscal period ended.
• If the partnership includes a corporation as a partner, the deadline is five months after the end of the partnership's fiscal period.
• If all partners are corporations, the deadline is also five months after the end of the partnership's fiscal period.

Completing the T5013 partnership information form

Filing T5013 involves four key documents that provide complete partnership information to the CRA:

Step 1: T5013 FIN (Partnership Financial Return)

• Basic partnership information and identification
• 4-page document covering partnership details

Step 2: T5013 Schedules

• Detailed financial breakdowns and calculations
• Multiple schedules based on partnership activities

Step 3: T5013 Slips

• Individual partner allocation information
• One slip required for each partner

Step 4: T5013SUM (Summary)

• Partnership-wide totals and summary data
• Consolidates information from all partner slips

Get professional help: An accountant can help you file accurately and stay compliant.

1. Complete the T5013 FIN

T5013 FIN is a 4-page Partnership Financial Return with three main sections:

Page 1: Partnership identification

• Business name and address
• Partnership type and structure
• Partnership account number

Page 2: Required attachments

• Checklist of schedules to include
• Questions to determine which forms apply
• Guidance for completing attachments

Pages 3-4: Operational details

• Partnership operations information
• Tax-related data
• Financial details and calculations

2. Fill out and attach the T5013 schedules

Several schedules must be attached to the T5013 form:

• T5013 Schedule 1: Partnership's Net Income (Loss) for Income Tax Purposes.
• T5013 Schedule 50: Partner's Ownership and Account Activity. This includes box 105, where you record a limited partner's at-risk amount.
• T5013 Schedule 100: Balance Sheet Information.
• T5013 Schedule 125: Income Statement Information. This includes farming and non-farming income and expenses.
• T5013 Schedule 140: Summary Statement.
• T5013 Schedule 141: Financial Statement Notes Checklist.

Other schedules you may need to attach:

• T5013 Schedule 2: Charitable Donations, Gifts and Political Donations
• T5013 Schedule 5: Allocation of Salaries and Wages, and Gross Revenue for Multiple Jurisdictions.
• T5013 Schedule 6: Summary of Dispositions of Capital Property. This schedule includes any proceeds from the sale of capital property, such as capital gains or losses, rental income, or proceeds from shares and bonds.
• T5013 Schedule 8: Capital Cost Allowance (CCA).
• T5013 Schedule 9: List of Partnerships. Complete this schedule if the partnership was part of another partnership.
• T5013 Schedule 12: Resource-Related Deductions if the partnership is involved in natural-resource mining or development, such as for oil and gas.
• T5013 Schedule 52: Summary Information for Partnerships that Allocated Renounced Resource Expenses to their Members.

There are other schedules if you need to claim tax credits, such as industry-specific tax credits for farmers, fishing and the resource industry.

3. Complete a T5013 slip for each partner

This form includes information about the partnership's operating results for the current tax year, including total capital gains and losses, and the amount allocated to the partner.

Fixed boxes are for information about the partnership, like the percentage share of the partnership and tax shelter identification number.

There are five generic boxes on the slip for extra information, such as:

• your share of Canadian and foreign net rental income (loss)
• your professional net income (loss)
• your renounced Canadian development expenses
• your expenses qualifying for an investment tax credit
• your total carrying charges
• Canadian and foreign net rental income (loss)
• professional net income (loss)
• renounced Canadian development expenses
• expenses qualifying for an ITC
• total carrying charges

In Box 108, limited partners can carry forward limited partnership losses if they have a positive at-risk amount; according to the Canada Revenue Agency, you can carry this part forward indefinitely.

4. Complete the T5013SUM for the partnership

is a 2-page summary that consolidates all partner allocations from your individual T5013 slips. This document shows the CRA how partnership income and losses are distributed.

Four required sections:

• Partnership identification: Basic business details
• T5013 slip totals: Combined figures from all partner slips
• Contact information: Current partnership contact details
• Certification: Authorized signature confirming accuracy

Filing the T5013 form

Filing requirements:

• (from Canada Revenue Agency registration). This account number has three parts and 15 characters: a nine-digit business number, the letters 'RZ', and a four-digit reference number.
• for your partnership

How to file:

• (recommended online method)
• application

Filing deadlines by partner type:

All individual partners: March 31 annually

Mixed partners (individuals + corporations): March 31 or 5 months after partnership tax year end (whichever is earlier)

All corporate partners: 5 months after partnership tax year end

How to report T5013 income on your personal tax return

After the partnership files its T5013 return, each partner receives a T5013 slip. This slip shows your share of the partnership's income or loss. You don't file this slip directly, but you use the information on it to complete your personal (T1) or corporate (T2) income tax return.

The income keeps its original type. If your partnership earned rental income, report your share as rental income. If it earned business income, report your share on the business income lines. The boxes on your T5013 slip match specific lines on your tax return, so you can report everything correctly.

Managing partnership finances with confidence

File your T5013 on time to stay compliant and get a clear view of your business performance. Keep your bookkeeping up to date all year for a smooth tax season.

With cloud accounting software, you can track income and expenses, manage cash flow, and work with your partners and accountant in real time. This makes it easier to gather the information you need for your T5013 return. Want to focus on running your business, not your books? Start a free trial today.

FAQs on T5013 partnership information returns

Find answers to common questions about the T5013 partnership information return below.

What's the difference between T5013 and T5008?

A T5013 slip reports your share of income or loss from a partnership. A T5008 slip, or Statement of Securities Transactions, is used to report the proceeds from selling securities like stocks or mutual funds. You use a T5013 for partnership earnings and a T5008 for investment sale transactions.

What happens if I file my T5013 late?

If a partnership files its T5013 return late, the CRA can charge a penalty. The penalty is calculated based on the number of partners and the number of months the return is late, and it can become significant. Filing on time is the best way to avoid these extra costs.

Do I need to file a T5013 if I'm a limited partner?

The partnership itself is responsible for filing the main T5013 information return. As a limited partner, you will receive a T5013 slip from the partnership. You then use the information on that slip to report your share of the income or loss on your own personal or corporate tax return.

Can I file my T5013 electronically?

Yes, the CRA encourages partnerships to file their T5013 returns electronically. You can use methods like the internet file transfer, which allows for a maximum file size of 150 MB.