Own US Stocks Over $100K? CRA T1135 Rule (2026)

Do you own foreign investments or a rental property outside Canada? If your foreign assets cost over $100,000, CRA may require a T1135 filing. In this video I break down who must file, what counts as “specified foreign property,” and the simplified vs detailed reporting rules. You’ll learn: • Who needs to file T1135 (and who doesn’t) • “Cost amount” vs fair market value (the common confusion) • Personal-use property vs income-producing property (vacation home example) • Simplified vs detailed reporting (Part A vs Part B) • What info CRA wants on the form and what your bank may provide • Why missing T1135 can get expensive Chapters 00:00 Foreign assets and the form most people miss 00:33 T1135 01:00 The $100,000 threshold and what it’s based on 01:15 What counts as specified foreign property 01:30 What does NOT count (personal-use property) 03:43 Part A vs Part B reporting (simplified vs detailed) 05:05 How the form is filled out (what CRA asks for) 08:37 Deadlines and what happens if you file late 09:15 Wrap up If you’re filing and you want something simple, I recommend Wealthsimple Tax. Use the link in the description and fund your account — we both get a $25 bonus. It’s straightforward and beginner-friendly. https://www.wealthsimple.com/invite/K... This content is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult a qualified professional or the CRA directly for advice specific to your situation. This video includes affiliate links. If you sign up using my Wealthsimple link, both you and I may receive a bonus at no extra cost to you. Need help with bookkeeping, filing, or organizing your business finances? I offer a free consultation for new business owners and startups. Email [email protected] to book a quick call and see how I can help.