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What is Specified Foreign Property?

Specified foreign property includes all assets held outside Canada that must be reported to the CRA if their total cost exceeds $100,000 CAD

Samuel Jones avatar
Written by Samuel Jones
Updated over 3 months ago

What is Considered Specified Foreign Property?

  • Bank accounts held outside Canada

  • Shares of foreign corporations (even if held in a Canadian brokerage)

  • Real estate located outside Canada (excluding personal-use properties like vacation homes)

  • Interests in foreign mutual funds

  • Other foreign investments or securities

  • Debt owed by non-residents, such as bonds or promissory notes

  • Foreign insurance policies

What is Not Considered Specified Foreign Property?

  • Property used exclusively for personal use (e.g., a vacation home)

  • Assets held within registered accounts like RRSPs, TFSAs, or RESPs

  • Canadian mutual funds with foreign holdings

  • Property related to active business income

Why This Matters

Understanding what qualifies as specified foreign property helps you determine whether you need to file a T1135 and ensures you stay compliant with CRA regulations

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