CRA Information Request
PayPal has received a Federal Court order, which requires us to disclose information to the Canada Revenue Agency (CRA) about PayPal Business account holders that have received or sent a payment through their account during the relevant reporting period between January 1, 2014 to November 21, 2017. This content has been updated to reflect the correct period of January 1, 2014 to November 21, 2017.
What information has PayPal been ordered to share with the CRA?
The court order requires PayPal to disclose the following information to the CRA about PayPal business account holders who received or sent a payment between January 1, 2014 and November 21, 2017:
- The full name of every individual or corporation holding a business account that has a Canadian address;
- The date of birth of each individual holding a business account;
- The business name, if applicable;
- The telephone number(s) of the corporation or individual holding the business account, if available;
- The full address(es) of the corporation or individual holding the business account;
- The email address of the corporation or individual holding the business account;
- The Social Insurance Number and/or Business Number of the corporation or individual holding the Business Account, if available.
- The total number and value of received transactions for each calendar year between January 1, 2014 and November 21, 2017.
- The total number and value of sent transactions for each calendar year between January 1, 2014 and November 21, 2017.
PayPal has to disclose the information to the CRA within 45 days from November 21, 2017, the day the court order was issued. Affected account holders have been notified.
Will PayPal hand over my data to the CRA?
We are required to disclose information about business account holders who have received or sent a payment between January 1, 2014 and November 21, 2017. Affected account holders have been notified.
I have a PayPal account, how can I check if I have a personal or business account?
Log in to your PayPal account and select the Accounts tab. If you see an “Upgrade to a Business account” under Account Options, then you have a personal account.
I closed my PayPal account, does this mean my information must still be sent to the CRA?
If you sent or received a transaction from a PayPal business account any time between January 1, 2014 and November 21, 2017, we are required to disclose your information to the CRA.
What should affected account holders do now?
We encourage affected business account holders to file their taxes as appropriate.
If you have any specific questions about your tax returns for any calendar year, we encourage you to contact your professional advisor or the CRA directly. Contact information for the CRA can be found on the CRA website.
Do I need to do anything with my PayPal account?
No. You don’t need to do anything with your PayPal account.
Can I still access my PayPal account?
Yes. You can access your PayPal account as you normally do.
Can I still contact the CRA to file my tax returns?
As part of their regular obligations, PayPal business account holders are required to file their taxes as appropriate. Details on how to file your income tax returns can be found on the CRA website. The CRA has a Voluntary Disclosure Program that provides an opportunity to change a tax return you previously filed or to file a return that you should have filed. Contact your professional advisor. You can find more information about this on the CRA website. Please note that the Voluntary Disclosure Program will be changing on January 1, 2018. More information about the new program can be found on the CRA website.
Why does PayPal retain my transaction data?
Where can I view my historical transactions in my account?
You can log in to your PayPal business account and select the Reports tab to view your transaction data. Please note that we must disclose to the CRA only the total number and value of payments sent and received.
Are other companies receiving similar orders to disclose customer information?
The CRA regularly seeks court orders as part of its mandate under the Income Tax Act and the Excise Tax Act to compel organizations to disclose information related to an individual or business for tax reporting purposes.
Will the CRA keep my information confidential?
The CRA is subject to strict confidentiality obligations under federal laws. For more information on when the CRA is permitted to disclose your personal information, please refer to s. 241 of the Income Tax Act.