Residency - Trusts

Generally, a trust is considered to reside where the trustee, executor, administrator, heir, or other legal representative who manages or controls the trust assets resides.

If the trustee is an individual, the residency of the trustee is determined using the normal tests used to determine the residency of an individual.

When a corporation has the control and management of a trust, the normal tests for determining the residency of a corporation are used. If a branch of a corporation has the management and control of the trust, the residency of the trust may be determined to be in the jurisdiction where the branch office is located.

If more than one person is involved in the management and control of the trust, the trust will be considered to be resident where the trustee with the majority of responsibility and control resides.

In some cases, a substantial portion of the management and control rests with a person other than the trustee such as the settlor or beneficiaries. The residence of this other person may affect the determination of residence of the trust.

For more information on the residency of a trust, please refer to Interpretation Bulletin IT447 - Residence of a Trust or Estate and Trusts.