If you own foreign property over the reporting threshold, the CRA requires a T1135 — and the penalties for missing it are steep. We prepare and file your foreign income verification accurately and on time*.
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4:5 imageCanadian residents who own specified foreign property costing more than CAD $100,000 at any time in the year must file Form T1135. This includes foreign bank accounts, shares, and real estate held for investment. The penalties for non-filing are significant, so accuracy matters.
We prepare and file the T1135 for your specified foreign property.
ThresholdsWe confirm whether you've crossed the $100,000 reporting threshold.
Catch-upMissed prior years? We help you get caught up and limit exposure.
Cross-borderForeign ties often mean other filings too — we coordinate them.
A clear, low-stress process — in person, by drop-off, or fully remote.
We determine which of your assets count as specified foreign property.
We establish cost amounts and income for each property.
We complete the T1135 in the correct reporting format.
We file alongside your return and keep records for support.
The T1135 Foreign Income Verification Statement reports specified foreign property held by a Canadian resident when the total cost exceeds CAD $100,000 at any point in the year.
It includes foreign bank accounts, shares of foreign companies, foreign real estate held for investment, and interests in foreign entities — but generally not personal-use property (like a vacation home for your own use) or foreign property in registered accounts. Note the $100,000 test is based on the cost (what you paid) of the property, not its current market value.
Penalties for failing to file the T1135 can be substantial and increase the longer it goes unfiled. If you've missed it, addressing it promptly is important — we can help.
The T1135 reports both your holdings and the income from them. We make sure both are captured correctly.
We can help you catch up on prior-year T1135s and advise on options to reduce penalty exposure.
Serving individuals and families across Durham Region: Oshawa · Whitby · Ajax · Pickering · Courtice · Bowmanville · Clarington · Newcastle · Port Perry · Uxbridge.
Book a free consultation and we'll match you with the right service and a clear, no-jargon plan.
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