Unique Service CPA on the team

T1134 Foreign Affiliate Reporting

Specialized T1134 information return filing for Canadian residents and corporations with interests in foreign affiliates. Complex CRA requirements, expertly handled.

Request a Document Review Who Needs T1134?
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Late Filing Penalty: Up to $1,000/month

Failure to file T1134 on time can result in significant CRA penalties. The deadline is 15 months after the end of the corporation's tax year.

15
Months to File
10%
Ownership Threshold
2
Form Types
CPA
Expert Required
Understanding T1134

What is T1134?

T1134 is an annual information return that must be filed by Canadian residents (individuals, corporations, trusts, and partnerships) who, at any time during the taxation year, owned or held interests in one or more foreign affiliates.

A foreign affiliate is generally a non-resident corporation in which the Canadian taxpayer owns (directly or indirectly) at least 1% of any class of shares, and the Canadian taxpayer along with related persons holds at least 10% of any class of shares.

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Filing Deadline

15 months after the end of the corporation's tax year (e.g., for Dec 31 year-end: March 31 of the following year).

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Two Form Components

T1134 Summary: One per filing entity. T1134 Supplement: One for each foreign affiliate held.

Who Must File

Do You Need to File?

You must file T1134 if you are a Canadian resident and any of the following apply:

  • You own shares in a foreign corporation (directly or indirectly)
  • You and related persons together own ≥10% of any share class
  • You hold interests in a foreign partnership that owns a foreign corporation
  • Your corporation is a controlled foreign affiliate (CFA)
  • You received exempt surplus or taxable surplus distributions
  • You are a trust or partnership with foreign affiliate interests
CRA Enforcement

Penalties for Non-Compliance

The CRA takes T1134 compliance seriously. Late or incorrect filings carry significant financial consequences.

Violation Penalty Amount Notes
Failure to file (standard) $25/day (min $100, max $2,500) Per return, per affiliate
Failure to file (knowingly / gross negligence) $500/month (max $12,000) Per return, per affiliate
Repeated failure to file $1,000/month (max $24,000) If previously penalized
False statement or omission $24,000+ Plus potential criminal charges
What We Need

Documents Required

Our team reviews your documents to determine the exact filing requirements and prepare an accurate T1134. Send us these to get started:

  • Corporate structure chart showing ownership percentages
  • Share registry / cap table for each foreign affiliate
  • Foreign affiliate's financial statements (audited if available)
  • Details of surplus accounts (exempt, taxable, pre-acquisition)
  • Dividends received from foreign affiliates during the year
  • Country of incorporation and tax residency for each affiliate
  • Prior year T1134 (if previously filed)
Our Process

T1134 Filing Process

1

Document Review & Assessment

We review your corporate structure and documents to assess your T1134 obligations and complexity.

2

Custom Quote Provided

Based on complexity (number of affiliates, surplus calculations required), we provide a transparent, flat-fee quote.

3

Preparation & Review

A team member with the CPA designation prepares the T1134 Summary and all required Supplements. We review every line with you before filing.

4

Filing & Confirmation

We file with CRA and send you your complete T1134 package with a confirmation receipt.

Get Expert Help

T1134 Pricing is Based on Document Review

Because every T1134 situation is unique — the number of affiliates, the type of surplus, the complexity of the corporate structure — we review your documents first and provide a clear, upfront quote.

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Free initial document review
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Flat-fee quote after assessment
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Handled by a CPA designation holder