T1135 – Foreign Income Verification Statement

Form T1135 will be applicable and data can be transmitted, if:

  • the answer to the question Did the taxpayer own or hold foreign property at any time in 2023 with a total cost amount of more than CAN$100,000? is “Yes”:
  • the check box Your firm has not been engaged to prepare and/or transmit Form T1135 is not selected; and
  • the check box Form T1135 will be transmitted or paper-filed at a later date (no later than the filing deadline for the income tax return) is not selected.

OR

  • The check box If this is an amended return check this box. is selected

The date the form was submitted or paper filed to the CRA displays automatically if the form is selected for electronic transmission. Otherwise the field “Date submitted or paper filed to the CRA” will remain an input field.

Here is a diagram summarizing the different transfers that can be made to Form T1135:

The following instructions are taken from the current version of Form T1135.

All legislative references on this form refer to the Income Tax Act (the Act).

If the reporting taxpayer is a partnership, references to year or taxation year should be read as fiscal period and references to taxpayer should be read as partnership.

Tables

Specified foreign property has been divided into seven (7) categories and should be reported in one of the following tables:

Certification

This area should be completed and signed by:

  • the person filing this form in the case of an individual;
  • an authorized officer in the case of a corporation;
  • the trustee, executor or administrator in the case of a trust; or
  • an authorized partner in the case of a partnership.

Due dates for filing this form

Form T1135 must be filed on or before the due date of your income tax return or, in the case of a partnership, the due date of the partnership information return, even if the income tax return (or partnership information return) is not required to be filed.

Filing by internet (EFILE or NETFILE)

Individuals, corporations, partnerships, and trusts can file Form T1135 electronically.

  • Individuals can file Form T1135 electronically (EFILE or NETFILE) for the 2017 and subsequent taxation years.
  • Corporations can EFILE Form T1135 electronically for the 2014 and subsequent taxation years.
  • Partnerships can file Form T1135 electronically (EFILE or NETFILE) for the 2017 and subsequent taxation years.
  • Trusts can EFILE Form T1135 electronically for the 2021 and subsequent taxation years.
  • EFILE – Your EFILE service provider, including a discounter, can complete and file your Form T1135 for you if he/she uses a tax preparation software PROGRAM certified by the CRA to EFILE Form T1135. For more information, go to EFILE for individuals and EFILE for corporations.
  • NETFILE – You can file your Form T1135 by Internet if it is prepared with a tax preparation software program certified by the CRA to EFILE Form T1135. Most individuals are eligible to NETFILE. For more information or to file your Form T1135, go to NETFILE at http://www.canada.ca/netfile.

Filing a paper return

Form T1135 can be attached to your income tax return, or partnership information return, and mailed to your tax centre. Form T1135 can also be mailed separately to the following address:

Winnipeg Taxation Centre
Data Assessment & Evaluation Programs
Validation & Verification Section
Foreign Reporting Returns
66 Stapon Road
Winnipeg MB  R3C 3M2

Penalties for non-compliance

There are substantial penalties for failing to complete and file Form T1135 accurately and by the due date. For additional information regarding penalties, see the Table of penalties CRA website at canada.ca/en/revenue-agency/services/forms-publications/forms/t1135.html.

Voluntary disclosures

To promote compliance with Canada's tax laws, we encourage you to correct your tax affairs through the Voluntary Disclosures Program. For more information, see Information Circular IC00-1R6, Voluntary Disclosures Program (VDP) or visit the CRA Web site.

More information

If you need more information visit our website at canada.ca/taxes. Alternatively you can call general enquires at:

  • 1-800-959-5525 for businesses, self-employed individuals and partnerships; or
  • 1-800-959-8281 for individuals (other than self-employed individuals) and trusts.

You may also contact your local tax services office. Our addresses and fax numbers are listed on our Web site and in the government section of your telephone book.

Privacy notice

Personal information is collected under the authority of section 233.3 of the Act and is used to monitor compliance with the foreign reporting requirements related to offshore investments. Information may also be used for the administration and enforcement of the Act, including audit, enforcement action, collections, and appeals, and may be disclosed under information-sharing agreements in accordance with the Act. Incomplete or inaccurate information may result in various compliance actions, including the assessment of monetary penalties.

Your Social Insurance Number is the authorized number for income tax purposes under section 237 of the Act and is used under certain federal programs.

Information is described in personal information bank CRA PPU 035 in the Canada Revenue Agency (CRA) chapter of the Info Source publication at canada.ca/cra-info-source. Personal information is protected under the Privacy Act and individuals have a right of protection, access to, and correction of their personal information. Further details regarding requests for personal information at the CRA can be found at canada.ca/cra-access-information-privacy.