T1135: Foreign Income Verification Statement

Canadian residents, certain types of trusts or partnerships, and even corporations all need to complete form T1135 if, at any time during 2016, they held specified foreign property that cost more than $100,000.

Specified foreign property can include:

  • Funds or intangible property (like a patent or copyright) that are held outside of Canada
  • Shares of capital stock issued by a non-resident corporation
  • An interest in a foreign insurance policy and
  • Precious metals, gold certificates, and futures contracts that are held outside of Canada

Note: This list isn’t complete. For a detailed list of the types of foreign property you’ll need to report on your T1135, check out the Canada Revenue Agency's website.

For the purposes of the T1135, specified foreign property doesn’t include:

  • Foreign investments held in a Canadian mutual fund or
  • Property you used or held exclusively while carrying on your active business

 

Where do I claim this?

Follow these steps in H&R Block’s tax software to file your 2016 taxes:

Note: Unfortunately, if you need to file form T1135, you won’t be able to NETFILE your return. Instead, you’ll need to download, print, and mail-in a copy of your return along with a completed T1135. Click here to download form T1135.

  1. On the PREPARE tab, click the OTHER icon.  You will find yourself here:



  2. On the SPECIAL SITUATIONS page, answer Yes to the question At any time in 2016, did you own or hold specified foreign property with a total cost of more than $100,000 CAD?, then click Continue.

  3. When you arrive at the page for your T1135: Foreign income verification statement, enter your information into the tax software.

 

 

Back to Top