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CRA Form T1135 Calculator
Check if you meet the $100,000 CAD threshold for filing the Foreign Income Verification Statement.
⚠️ CRA Penalty Warning:Failing to file Form T1135 on time triggers an automatic penalty of $25 per day, up to a maximum of $2,500 per year plus interest, even if no tax is owed or the assets generated no income.
Foreign Asset Costs
Includes NRE/NRO accounts in India or savings accounts in other countries.
Includes overseas shares, ETFs, and mutual funds (valued at historical cost base, not market value).
Rental units, commercial buildings, or vacant land outside Canada. Excludes personal vacation properties.
Filing Requirement Status
Run Calculation
Submit your foreign cost values to evaluate your T1135 filing status.
T1135 Asset Classification Guide
| Asset Type | Counts for T1135? | Explanation |
|---|---|---|
| NRE/NRO Bank Accounts | YES | Offshore cash holdings count at historical cost. |
| Foreign Mutual Funds | YES | Held in foreign brokerages or funds count. |
| Personal Vacation Home | NO | Exempt under the "personal-use property" rule. |
| Canadian TFSA / RRSP / FHSA | NO | Any assets held inside Canadian registered accounts are exempt. |