Possible Updates!! Note that this was written in July of 2019. You should use this as a guide but make sure to work with the current rules (they have likely changed).
Completing Canada's Form T1135 https://t.co/YiI1PQ8Wfb pic.twitter.com/t54DmGfp0g
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) July 14, 2019
This is the third post in my series of posts about Canada’s Foreign Asset reporting requirements. The first post described the range of Foreign Asset reporting requirements. The second post discussed the conditions which trigger the requirement to file Form T1135. This third post focuses on how to complete and file Form T1135.
For many individuals, the threshold question of WHETHER you are required to file Form T1135 will be more difficult than HOW to file Form T1135.
This post ASSUMES that you have met the reporting threshold and focuses on:
1. A review of whether Form T1135 is required
2. What information is required to be reported on the T1135
3. How to complete Form T1135
4. Where/how to file Form T1135
Form T1135 is available on the Canada Revenue Agency site here.
I have also uploaded the form.
You should print the form and have it available while you read this post. Form T1135 has broken the different categories of assets into seven different categories of foreign property.
Here we go …