T1134 form 2025

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The document outlines the requirements for filing Form T1134-A, an information return for Canadian taxpayers regarding foreign affiliates that are not controlled foreign affiliates. It specifies that a separate return must be filed for each foreign affiliate, excluding dormant or inactive ones. The form collects taxpayer and foreign affiliate information, including financial details and surplus accounts, and provides guidelines on currency reporting and due dates. It emphasizes the importance of accurate reporting to avoid penalties.

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Click ‘Get Form’ to open the t1134 form in the editor.
Begin with Part I, where you will provide your reporting taxpayer information. Select the appropriate box for individual, corporation, trust, or partnership and fill in the required fields such as name, address, and identification numbers.
Move to Part II for foreign affiliate information. In Section 1, identify the foreign affiliate by entering its name and address. Specify its principal activities using NAICS codes and indicate the countries where it operates.
In Section 2, provide financial information about the foreign affiliate. Include total assets, income tax paid, and net income before tax. Attach any necessary financial statements if required.
Complete Section 3 regarding surplus accounts by indicating any dividends received from the foreign affiliate and providing relevant calculations.
Finally, review all sections for accuracy before certifying your return in Section 4. Ensure that all information is correct and complete before submitting.

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What is the T1134 form for?

If a Canadian corporation or individual has an interest in a foreign affiliate, whether controlled or not, it will need to complete a T1134 information return. The T1134 information return is broken into two forms, a summary and a supplement. A separate supplement must be filed for each foreign affiliate.

What is the difference between T1134 and T1135?

Form T1135 Foreign Income Verification Statement funds and bank accounts held outside Canada; shares of foreign corporations, but not those of a foreign affiliate, for which you must file form T1134; intangible property (patents, copyright, etc.)

What is the penalty for not filing T1134?

Fines and Penalties Reporting Taxpayers who fail to meet the filing deadline are subject to a penalty of $25 per day, with a minimum penalty of $100 and a maximum of $2,500 for each late-filed T1134 Supplement, or each late-filed T1134 Summary where all FAs are dormant / inactive.

What is a qualifying interest for a foreign affiliate?

Qualifying interest is defined in paragraph 95(2)(m) in respect of a foreign affiliate and requires that the taxpayer owns shares of such affiliate having at least 10% of the votes and fair market value of all shares of the affiliate.