Form T1134 Information Return Relating to Controlled and Not-Controlled Foreign Affiliates (2011 and Later Taxation Years) - Canada

Form T1134 Information Return Relating to Controlled and Not-Controlled Foreign Affiliates is used in Canada for reporting information about foreign affiliates that a Canadian taxpayer has a significant interest in or controls. It is part of the tax requirements to ensure proper disclosure of overseas holdings and transactions.

The Form T1134 Information Return is filed by Canadian taxpayers who have controlled or not-controlled foreign affiliates for the specified taxation years.

FAQ

Q: What is Form T1134?
A: Form T1134 is an information return that must be filed by Canadian taxpayers who have controlled or not-controlled foreign affiliates.

Q: Who is required to file Form T1134?
A: Canadian taxpayers who have controlled or not-controlled foreign affiliates are required to file Form T1134.

Q: What is the purpose of Form T1134?
A: The purpose of Form T1134 is to provide the Canada Revenue Agency (CRA) with information about a taxpayer's foreign affiliates and their activities.

Q: When is Form T1134 due?
A: Form T1134 is due on the same date as the taxpayer's income tax return, which is generally April 30th of the following year.

Q: What information is required to be reported on Form T1134?
A: Form T1134 requires information about the taxpayer's foreign affiliates, including their names, addresses, and activities.

Q: Are there any penalties for not filing Form T1134?
A: Yes, there are penalties for not filing Form T1134, including a late filing penalty of $25 per day, up to a maximum of $2,500, and a failure to file penalty of $500 per month, up to a maximum of 24 months.