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Do you own foreign property over $100,000?—File Form T1135 online this year!

February 17th. 2015

Starting February 9, 2015, individuals can file Form T1135, Foreign Income Verification Statement, electronically for the 2014 tax year?


Canadian residents who own, at any time in the tax year, certain types of property outside Canada costing more than $100,000 must file Form T1135, Foreign Income Verification Statement. Now, you can do it online!   Foreign property includes rental homes or condominiums, foreign stock market or money market investments.  Foreign personal use property is excluded.


If you need to file a Form T1135 for taxation years before 2014, you must file a paper form. Detailed instructions are given on the back of the form.


Don’t forget to file your return and Form T1135 on time! For the 2013 and later tax years, the reassessment period for a tax year is extended by three years if a taxpayer has not reported income from a foreign property on their income tax return and Form T1135 was not filed, was filed late, or included incorrect or incomplete information.


For more information on Form T1135, go to Foreign Income Verification Statement.


Fast facts for individuals about filing your foreign income verification statement online:

  • You can file Form T1135 online for the 2014 tax year and subsequent years only.
  • You can file Form T1135 online with your tax return or separately, but the filing deadline is the same for both.
  • Stay tuned -- corporations and partnerships will be able to file Form T1135 electronically in the future. We’ll let you know when this service becomes available.




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