Is this you?
- I held foreign assets over $100,000
- Some assets didn't earn income
- I wasn't sure disclosure was required
"If it didn't earn income, it doesn't matter."
Foreign assets over $100,000 must be disclosed even if they earned nothing.
Why guessing is risky
- Penalty is $25 per day, up to $2,500 per year
- CRA often reviews disclosures years later
- Late filing increases scrutiny
Safe to ignore if
- All assets were below thresholds
- T1135 was already filed
Stop and check if
- Total value exceeded $100,000
- I'm unsure what qualifies as a foreign asset
Resolve the doubt
Calculate my T1135 penalty risk (2 minutes)We'll tell you if this needs reporting and what to do next.
"Most people confirm disclosure before penalties compound."