https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4015/t5-guide-retu...
If more than one recipient is entitled to the investment income (for example, interest credited to a joint account), you only need to complete one T5 slip. If there are two recipients, enter both names. For a corporation, enter the name of the corporation (see Box 23 – Recipient type).
Where there are multiple (two or more) account holders for the same account, the onus is on the account holders to ensure that each individual reports their fair share of the income. You have to prepare the T5 slip with the name of the individual(s) who represent the group of investors. The T5 slip should indicate the primary representative or the secondary representative, if known, as well as the primary representative's SIN in box 22. In addition, code 2 must be entered in box 23 (see Box 23 – Recipient type), which advises the CRA that the account is a joint account.
If the payment is made to an association, organization, or institution, enter that name. Do not enter the name of the secretary-treasurer or any other individual who has signing authority. If the payment is made to the registered holder of an investment (for example, broker or trustee of an RRSP), enter the name of the registered holder, not the name of the individual. If the payment is made to a trust, enter the name of the trust and not the name of the individual beneficiaries of this trust.
