Canadian residents must file form T1135 if the total cost of their specified foreign property exceeds $100,000 CAD at any point in the year. Add your holdings below to check.
Your specified foreign property
Enter each property's year-end and maximum cost in CAD. This free screen conservatively adds property-level maxima; the signed-in workspace calculates the actual simultaneous peak from your ledger. Include shares of non-resident corporations, non-resident funds, income-producing foreign real estate, foreign bank accounts, and other specified foreign property.
Property 1
Property 2
T1135 filing obligation
Total cost
$97,000
Peak cost in year
$103,000
T1135 filing required
Your specified foreign property exceeds $100,000 CAD by $3,000. You must file form T1135 with your tax return.
Peak cost exceeded threshold. Even if your current cost is below $100K, if the cost exceeded $100K at any point during the year, you must still file T1135.
Penalties for not filing:
$25/day late (up to $2,500)
$500/month for knowing failure (up to $12,000)
Gross negligence: 5% of highest cost in year
What counts as specified foreign property? Shares of non-resident corporations, non-resident funds, foreign bonds, income-producing foreign real estate, foreign bank accounts, and interests in non-resident trusts can count. Canadian-listed mutual funds and ETFs generally do not count merely because they hold foreign investments. Registered-plan and personal-use property is excluded.
Automate your T1135 tracking
Sched3 monitors your foreign property cost in real time and alerts you when you cross the threshold — so you never miss a filing or face the penalties.