T1135 Foreign Income Verification Statement software
Report specified foreign property on the T1135, check it against the CRA's rules and file it electronically — for individuals, corporations, trusts and partnerships.
Who must file
Canadian residents — individuals, corporations and trusts — and partnerships file a T1135 when the total cost of their specified foreign property was more than $100,000 at any time in the year. Specified foreign property includes funds and shares held outside Canada, debts owed by non-residents and real property abroad, but not property used in an active business or personal-use property.
Deadline
The T1135 is due on the filing due date of the filer's income tax return: six months after the year end for a corporation, April 30 for most individuals (June 15 if self-employed) and 90 days after the year end for a trust. A partnership files it by the due date of its partnership information return.
What AuraTax does for you
- The simplified method (Part A) and the detailed method (Part B), by the total cost of the property
- Each category of specified foreign property in Part B, property by property
- Validation against the CRA's specifications, by type of filer
- Electronic filing with the CRA
- Amended statements, transmitted electronically
Frequently asked questions
Do I have to file a T1135 if my foreign property cost less than $100,000?
No. The T1135 is required only when the total cost of specified foreign property was more than $100,000 at any time in the year. Under $250,000 for the whole year, the simplified method in Part A is enough; above that, Part B asks for each property.
What is the penalty for filing the T1135 late?
$25 a day, from a minimum of $100 to a maximum of $2,500, before any further penalties for failing to report.
How much does it cost to file a T1135 with AuraTax?
Preparing the return is free. You pay when you transmit it: one T1135 return at a time, or every return of every program with the yearly licence. Both prices are shown on this page and on the pricing page, before taxes.
Can I file the T1135 on a Mac or on Linux?
Yes. AuraTax runs in the browser, and the desktop app installs on Windows, macOS and Linux with the same programs, for files you prefer to keep on your own machine.