The Canada Revenue Agency wanted to take an education-first approach with respect to these new reporting requirements that a bare trust would be subject to. We announced in early December 2023 that the agency would be waiving the late filing penalties for all of 2023, and that was a decision made by departmental officials.
Over the course of the months that followed that decision, we continued to be in contact with our stakeholders, continued to receive a lot of questions and concerns, and ultimately departmental officials did make the decision to waive the filing requirement for the year with respect to bare trusts. That's what was announced at the end of March this year.