Find out in two minutes whether you have to file.
FBAR and T1135 are reporting forms, not tax bills. They still carry penalties when they are missed, and most people find out about them years late. Two questions on the right give you an indicative answer now.
Thresholds are indicative and change. A consult confirms your exact obligations. Indicative only, not tax advice.
Who this is for
Any one of these puts reporting on your list.
- You are a US person and you hold bank, brokerage or registered accounts in Canada.
- You are a Canadian resident and you hold property, shares or accounts outside Canada.
- Your foreign accounts are individually small but they add up past a threshold when you total them.
- You have signing authority over an account you do not own, at work or for a family member.
- You inherited an account or a property abroad and have not reported it since.
- You filed your return but never filed the reporting form that goes with it.
Any of these apply? Run the check above, then book the consult so we can confirm it against your actual accounts.
Plain language
What these two filings actually are
The two filings
FBAR, FinCEN Form 114. A US report of foreign financial accounts. It is filed with the Treasury, separately from your tax return. The reporting point is an aggregate one: if the combined high balance of your non-US financial accounts passes $10,000 USD at any moment in the year, the report is likely due. It reports balances. It does not itself create a tax bill.
T1135, Foreign Income Verification Statement. A Canadian report of specified foreign property. The reporting point is $100,000 CAD in total cost of specified foreign property. What counts as specified property is narrower than most people assume, and personal-use property is generally outside it. Like the FBAR, it is a disclosure, not a tax calculation.
Indicative only, not tax advice. Thresholds are aggregate, change over time, and depend on facts we would need to see.What a missed filing means
Both filings carry penalties when they are late or missed, and on the US side those penalties can be significant. Beyond that, we will not tell you what your position is before we have looked at it.
- What a tax authority does with a late filing is their call, not ours. We describe options, never outcomes.
- Relief and correction routes exist on both sides. Whether one fits your facts is a question for the consult, and eligibility is never something we assume in advance.
- The first useful step is establishing which years are open and what was and was not reported. That is what the consult does.
You will get a plain account of where you stand and a fixed fee for the work. No promises about what happens next, because nobody honest can make them.
Fixed fees
How reporting work is priced here
FBAR and T1135 sit inside a cross-border engagement rather than being sold on their own, because the reporting only makes sense next to the returns it belongs to. The fee is quoted on the consult and confirmed in writing before any work starts.
Cross-Border US and Canada Tax
Personal and corporate returns filed on both sides, treaty positions, FBAR, T1135, foreign tax credits.
from $1,540 CAD
- FBAR (FinCEN 114) where the threshold applies
- T1135 reporting where the threshold applies
- A tax consultant reviews before filing
- CFA-led advisory
Reporting on one side only? See US Tax or Canadian Tax. Back-year reporting is scoped on the consult rather than published, because the fee follows the number of open years. Full fee logic on How Our Fees Work.
Confirm it properly
The check gives you a direction. The consult gives you an answer.
Bring a list of your foreign accounts and property and we will tell you what has to be reported, for which years, and what it costs to put right.
Email us a line about your situation and two times that suit you. We reply to confirm a slot.
How it works
Three steps. No phone tag.
Run the check
Two questions, thirty seconds, an indicative read on whether FBAR or T1135 applies to you. Not tax advice.
Get a fixed quote
We look at your actual accounts and years, tell you what has to be reported, and confirm your fee up front. The number you see is the number you pay.
A named human files it
One person owns your file end to end, a tax consultant reviews it, and a licensed practitioner of record signs off.
Real, named people
Who touches a reporting file
One named person owns this work. You will know their name before you send us a document.
Meet the full team on About and Team.
Questions
Reporting questions we get every week
What is the difference between FBAR and T1135?
I have had these accounts for years and never filed either form. What now?
Do joint accounts and signing authority count?
Who reviews and signs my filings?
What does it cost to get this done?
Book the consult. Get a real answer.
Twenty minutes. Bring a list of your foreign accounts and property and we will tell you what has to be reported and what it costs.