Tool

Foreign Asset Reporting Checklist

Bring your foreign assets and the documents you already have together, see what is still missing, and take the list to your accountant. This checklist does not decide whether a T1135 is required, does not add amounts up, and does no currency conversion.

What you enter is kept only in this tab's temporary memory; it is not uploaded or written to browser storage. It is kept when you switch between English and Chinese, and cleared when the tab is refreshed or closed, so print in good time. No name, SIN or account numbers are needed. One list per person; spouses each prepare their own.

01

Basics

02

List assets

Which assets to list

Use the three groups below. If you are not sure where something belongs, choose "Other / not sure" and let the accountant decide.

Usually to consider
  • Foreign bank deposits and wealth-management products
  • Foreign stocks, bonds or funds held directly
  • Foreign real estate held for rental or investment
  • Amounts owed to you by non-residents
  • Other foreign investments
Usually not included (listed so the accountant can confirm)
  • Assets inside Canadian registered accounts (RRSP, TFSA, RESP, etc.)
  • Foreign real estate mainly for personal use
  • Foreign-currency deposits at Canadian institutions; Canadian mutual funds
Confirm separately
  • Foreign insurance policy
  • Shares of a foreign company
  • Interest in a foreign trust
  • Foreign pension or retirement account
  • Other / not sure

No assets listed yet.

Canadian brokerage accounts

Foreign stocks held in a Canadian brokerage account are not listed one by one here. Brokers can usually provide account-level T1135 information; ask the broker for it.

03

Gather documents

0 assets added; 0 with items to complete, 0 to confirm with the accountant.

04

Confirm and print

Items to complete or confirm

No assets added yet; you can keep filling in or print the current list.

To complete
  • Tax residency not entered
  • First year as tax resident not entered
  • Canadian brokerage accounts: not selected
This is not a completed T1135 return.

Notes

  • The reporting threshold concerns whether the total cost of specified foreign property exceeded CAD 100,000 at any time in the year; the detailed reporting method concerns whether the total cost reached or exceeded CAD 250,000. This checklist does not add amounts up or decide whether a return is required; the accountant checks that.
  • Cost usually means the Canadian-dollar cost at acquisition; for assets held before immigrating, the fair market value on the date you first became a Canadian tax resident may apply. Different fields convert differently; this checklist does no currency conversion, and the accountant confirms the figures.
  • If earlier years may have been missed or filed late, ask the accountant how to handle them.
  • Categories and definitions follow the CRA's T1135 form and instructions for the year.

CRA: Form T1135 · CRA: Questions and answers about Form T1135

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