Q – If I hold US stocks worth over $100,000 in a non-registered personal account at a bank brokerage, am I required to fill out Form T1135? – Ajit G., Ottawa
A – Yes. The form is titled Foreign Income Verification Statement. It’s required from all Canadian taxpayers who own specified foreign property costing more than $100,000. Such foreign property includes “a share of the capital stock of a non-resident corporation”.
Note, the CRA website uses the word “costing”, not “worth”. So, if the book value of your US shares is less than $100,000, it appears you don’t need to file the form, even if their market value is now more than that amount. – G.P.