T5008 slip
Use this slip to report one transaction (or more than one transaction involving identical securities for the same client) you made for a person. There are three slips printed on each T5008 sheet.
The reporting requirement for securities transactions does not apply to transactions for which an information return is required under section 202 (payments to non-residents) or section 204 (estates and trusts) of the Income Tax Regulations. For information about payments to non-residents, see Payments to non-residents of Canada.
You can get a PDF or PDF fillable/saveable version of the Form T5008, Statement of Securities Transactions slip.
Since the 2021 taxation year, financial institutions, traders or dealers in securities can send recipients who reside in Quebec a consolidated T5008/RL-18 slip for all transactions. For more information, visit the Revenu Québec website RL-18 Slip.
T5008 slip image
Customized T5008 slips
For those who fill out a large number of slips, we accept certain slips other than our own. To ensure accuracy, follow the guidelines for the production of customized forms or see Information Circular IC97-2R19, Customized Forms.
On this page
The following persons have to file a T5008 slip and information return:
- every trader or dealer in securities who buys a security as principal (for their own account) or sells a security as an agent or nominee for any vendor
- every person in the business of buying and selling precious metals in the form of certificates, bullion, or coins who makes a payment to another person for a sale of precious metals by that other person
- every person who, as a nominee or agent for another person, gets the proceeds of a sale or other transaction carried out in the name of the nominee or agent
- every person who makes a payment to, or acts as a nominee or agent for, an individual resident in Canada for the disposition or redemption of a debt obligation in bearer form
- every person (other than an individual who is not a trust) who acquires, redeems, or cancels a security issued by that same person, except when the transactions involve the following:
- exchanges of shares for new shares in the course of a reorganization of the capital of a corporation (section 86), if no consideration other than the new shares is receivable
- securities disposed of when a partnership ends [subsection 98(3)]
- securities transferred when a new partnership is formed from a predecessor partnership [subsection 98(6)]
- convertible property (section 51), that is, when a corporation's shares, bonds, debentures, or notes are exchanged for shares of the same corporation and no consideration other than the new shares is receivable
- redemptions, cancellations, or acquisitions of securities made during an amalgamation (section 87)
- exchange of capital property that is a convertible debt obligation for another debt obligation (section 51.1)
Note
If cash or some other consideration totalling $200 or less is received instead of a fractional interest in shares during an exchange to which section 51 or 87 applies, you do not need to report the transaction. If the cash or other consideration is more than $200, you have to report the entire exchange transaction. For more information, see Archived Interpretation Bulletin IT115R, Fractional Interest in Shares.
Units in a trust that trade at a constant fixed price measured in Canadian dollars, such as money market funds, are excluded from this T5008 filing requirement. The income earned from money market funds should be reported on T3 or T5 slips as appropriate. This position does not apply to units in a U.S. dollar denominated money market fund, regardless of whether the units are held in a Canadian dollar account or a U.S. dollar account.
Tax tip: Electronic filing of information returns
All information returns should be filed electronically to avoid the delays that may occur in processing paper submissions. Filing of paper returns may result in penalties.
The CRA offers two methods for electronically filing your information returns:
- Web Forms — With each submission, you can include up to 100 slips
- Internet file transfer — You can submit files of up to 150 MB over the internet
Some of the benefits of electronically filing your returns are:
- your return will be processed without delay
- you will receive a confirmation number when you file
- slips are available sooner for Auto-fill my return
You do not need to file a T5008 slip and information return for:
- a purchase of a security by one trader or dealer in securities from another, other than a non-resident trader or dealer in securities
- a sale of a security by a trader or dealer in securities for another trader or dealer in securities
- a sale of currencies or precious metals in the form of jewellery, works of art, or numismatic coins
- a sale of precious metals if you ordinarily produce or sell precious metals in bulk or commercial quantities
- a redemption, acquisition, or cancellation of a debt obligation by the issuer or agent when:
- the debt obligation was issued for its principal amount
- the redemption, acquisition, or cancellation satisfies all of the issuer's obligations
- there are no disproportionate payments of principal and interest to any person with an interest in the debt obligation
- an information return other than a T5008 information return is required as a result of the redemption, acquisition, or cancellation
- a sale of securities by a trader or dealer in securities on behalf of a person who is exempt from tax under section 149 (for example, municipalities, registered charities, non-profit organizations, and registered retirement savings plans)
- transactions reported under section 202 or 204 of the Income Tax Regulations
- a deemed disposition of a security (see Deemed dispositions)
- the expiry or exercise of an option, right, or warrant
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Example
A client of a trader or dealer in securities owns an option to buy publicly traded shares in XYZ Corporation. If the trader or dealer buys the option from the client or sells the option to a third party for the client, the trader has to prepare a T5008 information return to reflect the transaction. However, if the client exercises the option and acquires the shares of XYZ Corporation, or if the option is allowed to expire, the trader does not have to file a T5008 information return.
Before completing the T5008 slips, see the information under Filing methods. We can process your T5008 information return more efficiently if you follow these instructions.
Tips for completing T5008 slips
- Complete the T5008 slips clearly and in alphabetical order.
- Use a standard 10 or 12 character per inch font if typed or computer-generated.
- Report, in dollars and cents, all amounts you paid during the year.
- You should report all amounts in Canadian currency. For more details, see Box 13 – Foreign currency.
- Do not enter hyphens or dashes between numbers or names.
- Do not enter the dollar sign ($).
- Do not show negative dollar amounts on slips; to make changes to previous years, send us amended slips for the years in question.
- If you do not have to enter an amount in a box, do not enter "nil" – leave the box blank.
- Do not change the headings of any of the boxes.
Detailed instructions
Joint ownership
Complete only one T5008 slip to report a transaction even if more than one person owns the securities. Include the names of the joint owners on lines 1 and 2 of the recipient area of the T5008 slip.
Aggregate reporting
You can report more than one transaction involving identical securities for the same client by totaling the amounts and showing them as one transaction. Examples of identical securities are: units of the same mutual fund, all commodity futures, or the same class of stock of the same corporation.
To get detailed instructions, choose one of the box numbers on the following list:
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Year
Enter the four digits of the calendar year in which the transaction took place.
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Box 10 – Report code
Enter on each slip one of the following codes to indicate whether the slip is:
- "O" original
- "A" amended (changing the financial data or identification information)
- "C" cancelled
When using code "A" or "C", enter a description at the top of the T5008 slip ("AMENDED" or "CANCELLED") and include a letter of explanation when you file a copy of the slip with us. For more information, see Amending, cancelling, adding, or replacing T5008 slips.
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Box 11 – Recipient type
On each T5008 slip, enter one of the following codes to identify the person for whom the transaction was made:
"1" individual (even if the SIN is not provided)
"2" joint account
"3" corporation
"4" other, for example, association, trust (fiduciary-trustee, nominee, or estate), club, or partnership
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Box 12 – Recipient identification number
If the recipient is an individual (other than a trust), enter the individual's social insurance number (SIN). When you report the disposition of a jointly owned security, enter only the SIN of the first individual you identified as a recipient.
You have to make a reasonable effort to get the recipient's SIN. If you do not, you may be liable to a $100 penalty for each time you do not provide the SIN on a slip. However, when a person tells you that they do not have a SIN but is applying for one, make sure you complete and file the return before the filing deadline. If you have not received the SIN by the time you prepare the T5008 slip, leave box 12 blank.
For more information on your obligation to provide a valid SIN, see Failure to provide a social insurance number (SIN) on a return.Note
If you are reporting a transaction made in trust to an institution for an individual (for example, a payment made to the trustee of a self-directed RRSP), do not enter the individual's SIN in box 12.
If the recipient is a trust, enter the trust account number.
If the recipient is a business (sole proprietor, corporation or partnership), enter the recipient's 15 character program account number, in this area.
The program account number consists of three parts:
- the nine-digit BN number identifies the business
- the two-letter program identifier identifies the type of program account
- the four-digit reference number identifies each account in a program that a business may have
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Box 13 – Foreign currency
You should report all amounts in Canadian currency, unless the transaction meets the requirements explained in Foreign currency reporting.
For Canadian funds, leave this area blank.
Enter the applicable three-character alphabetic or numeric currency code using International Standard ISO 4217. If possible, use the alphabetic codes, as follows:
USD – United States, dollar
JPY – Japan, yen
HKD – Hong Kong, dollar
AUD– Australia, dollar
NZD – New Zealand, dollar
DKK – Denmark, krone
GBP – United Kingdom, pound
EUR – European Union, euro
OTH – OtherWhen you report amounts in foreign currency, keep the following rules in mind:
- print the name of the foreign currency on the T5008 slips (for example, U.S. DOLLARS) beside the Identification of securities text above the white box of Box 17 – Identification of securities for the recipient's benefit
- if you file your T5008 information return on paper and leave box 13 blank, we will process the amounts on the T5008 slips as Canadian dollars
- when completing the summary, you only have to enter one amount for total proceeds of disposition, whether or not you complete the T5008 slips in different currencies
Complete all T5008 slips in Canadian currency. Use the exchange rate that was in effect at the time of the transaction or an average rate that includes the transaction period.
Foreign currency reporting
Complete all T5008 slips in Canadian currency. Use the exchange rate that was in effect at the time of the transaction or an average rate that includes the transaction period.
Foreign currency is usually converted to Canadian funds before it is credited to the recipient's account. However, certain taxpayers keep foreign currency accounts and choose to convert their account balances themselves. If you get proceeds of disposition in a foreign currency and deposit the amounts to your client's foreign currency account without converting them to Canadian funds, you can report in the foreign currency that applies. Identify foreign currency amounts by entering in box 13 the applicable currency code under international standard ISO 4217.
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Box 14 – Date (MMDD)
Enter the month and day on which the transaction was completed (the settlement date). For example, if you completed the transaction on May 17, enter "0517." If you are reporting the aggregate of transactions that occurred throughout the year, enter "1231" (December 31). Do not enter the year in this box.
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Box 15 – Type code of securities
Indicate the type of security by entering one of the following codes:
BON – Bonds
BO1 – A bulk transaction in bonds for which the quantity cannot be determined
DOB – Debt obligations in bearer form
DO1 – A bulk transaction in debt obligations in bearer form for which the quantity cannot be determined
ELN – Equity linked notes
FUT – Futures
MET – Precious metals
MFT – Units in a mutual fund trust or investment fund trust
MSC – Miscellaneous
OPC – Option contracts
PTI – Publicly traded interest in a trust or partnership
RTS – Rights
SHS – Shares
UNT – Units (for example, a unit consisting of a bond and a warrant)
WTS – WarrantsThese codes are the same as field 35A in the International Standard ISO 15022. We have added certain codes and removed others to report transactions as required by the Act. However, if you use this standard ISO 15022 to record transactions, you can use the field 35A codes and reproduce them without changes.
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Box 16 – Quantity of securities
Enter the quantity of securities involved in the transaction. The quantity must be in units that apply to that security (for example, for gold, give the number of ounces).
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Box 17 – Identification of securities
Enter a description of the securities in the white box (for example, Treasury bill, banker's acceptance, shares of XYZ Corporation, debt obligation in bearer form).
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Box 18 – ISIN/CUSIP number
When the securities are identified by an ISIN number (International Securities Identification Number) or CUSIP number (Committee on Uniform Securities Identification Procedures), enter the number in box 18.
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Box 19 – Face amount
If the security represents indebtedness (for example, bonds and other debt obligations), enter the nominal value, in dollars and cents, that appears on the face of the document (that is, the amount to be repaid at maturity). Leave this box blank if the security does not have a face amount (for example, shares or commodities).
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Box 20 – Cost or book value
Enter the cost or book value, in dollars and cents, of the securities involved.
Note
Cost or book value is total amount paid to purchase a security, including any transaction charges related to the purchase, adjusted for reinvested distributions, returns of capital and corporate reorganizations. The preparer is expected to take reasonable measures in order to ensure that the amount reported in box 20 is correct. Do not enter the market value or the current price the asset was sold for in box 20. The investor needs this amount to calculate the adjusted cost base (ACB) of the security or debt investment and to track gains (or losses).
This amount may or may not reflect the investor's ACB for the purpose of determining their gain or loss from the disposition of the security. The investor should be aware that they may have to make adjustments to the amount indicated in box 20 at the time of determining and reporting their gain or loss from the disposition.
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Box 21 – Proceeds of disposition or settlement amount
You have to prepare a T5008 slip for all reportable transactions, regardless of the amount of proceeds. There is no administrative limit for reporting securities transactions.
Note
Box 21 may contain a negative amount only if the type of securities in Box 15 – Type code of securities is a future (FUT) or an option contract (OPC).
Enter, in dollars and cents, the total proceeds received by or credited to the recipient in exchange for the securities. See Proceeds for our definition of proceeds.
For equity linked notes, report accrued interest from the debt obligation to the time of transfer on a T5 slip (see Guide T4015, T5 Guide – Return of Investment Income). Do not include the accrued interest in the proceeds of disposition amount.
Example 1
A $10,000 Treasury bill is disposed of before it matures, and the bearer gets $9,500. The proceeds of disposition are $9,500, enter "9,500" in box 21. Since the face amount of the Treasury bill is $10,000, enter "10,000" in Box 19 – Face amount.
Report only the total proceeds in box 21. Do not deduct any expenses from the proceeds and do not report negative amounts. See the Note for Box 21 above.Example 2
A $15,000 discounted bond is called before maturity. The bondholder gets a net credit of $10,480, as follows:
Principal payment$10,000Add: Accrued interest+ $500Gross proceeds= $10,500Minus: Bank charges- $20Amount deposited to bondholder's account= $10,480Since the proceeds of disposition are $10,000, enter "10,000" in box 21. Do not include the accrued interest with the transaction proceeds. Report the accrued interest on a T5 slip. The bank charges do not represent an amount payable to the bondholder. Bondholders that are individuals can deduct this amount as outlays and expenses on Schedule 3 of their Income Tax and Benefit Return to determine the gain realized on the transaction.
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Boxes 22, 23, and 24 – Securities received on settlement 23 – Recipient type
In some securities transactions, securities are received as proceeds of disposition. This usually happens in exchange or conversion transactions. You should complete boxes 22, 23, and 24 only when you cannot readily determine the value of the securities received on settlement. Do not report any monetary values in these boxes.
Report, in Box 21 – Proceeds of disposition or settlement amount, any part of the proceeds that is credited in money.
Note
Some exchanges of securities are exempt from the reporting requirement (see Who has to file a T5008 information return).
Certain securities can be redeemed in return for another type of security. For example, bonds may be redeemed for gold. However, gold is often converted, at the fair market value (FMV), and the proceeds (see Proceeds) are credited to the recipient. In this case, you have to report these transactions in Box 21 – Proceeds of disposition or settlement amount.
Use boxes 22, 23, and 24 to report the transaction only if you cannot reasonably determine the FMV of the securities obtained on conversion.
The instructions for completing boxes 22, 23, and 24 are the same as those for boxes 15, 16, and 17.
Example
XYZ Corporation redeems a bond for 20 ounces of gold. If you could not determine the value of the gold, you would complete boxes 22, 23, and 24 as follows:
Box 22 MET
Box 23 20 OZ
Box 24 GOLD
Report sections 85 and 85.1 transactions in these boxes as follows:
Box 21 Leave this box blank for these transactions.
Box 22 Enter "SHS."
Box 23 Enter the number of shares, units, or quantity of any other property or securities received as part of the proceeds of disposition.
Box 24 Enter "Section 85" or "Section 85.1," as applicable. -
Recipient's name and address
First and second lines
Enter the individual's last name first, followed by the first name and initials or the legal name of the trust, corporation, organization, or institution. Do not enter the name of a secretary, treasurer, or anyone else with signing authority.
Enter any other information, such as the name of a second recipient for a jointly owned security.
In all cases, enter the recipient's full mailing address as follows:
Third, fourth, and fifth lines
Enter the recipient's full address, including city and province or territory (you can leave some lines blank). For the province or territory use the two letter abbreviations from the Provincial and territorial codes list.
Postal code
Enter the recipient's postal code.
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Name and address of trader or dealer in securities
Give the full name and mailing address of the person required to complete the information return in this area of each T5008 slip. To determine whether or not to file a T5008 information return, see Who has to file a T5008 information return.
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Void
If you make an error on a T5008 slip, enter a “✔.” We will disregard transactions on voided T5008 slips during processing.
You can send recipients an electronic copy of their T5008 slips, on or before the last day of February following the calendar year to which the information return applies, but they must have consented in writing or by email to receive the slips electronically.
Note
If you file your information return over the Internet or on electronic media, do not send us the paper copy of the forms that make up the return.
If you are filing on paper, send us each T5008 slip (three slips printed per sheet), along with the T5008 Summary, on or before the last day of February following the calendar year to which the information return applies.
Send these forms to:
T5008 Program
Jonquière Tax Centre
Post Office Box 1300 LCD Jonquière
Jonquière QC G7S 0L5
Send two copies of the T5008 slip to the recipient on or before the last day of February following the calendar year to which the information return applies.
You do not have to keep a copy of the T5008 slips. However, you have to keep the information from which you prepared the slips in an accessible and readable format.
Note
When a business or activity ends, you have to send the appropriate copies of the T5008 slips to the recipients and us no later than 30 days after the date the business or activity ended.
Depending on the situation, you might have to amend, cancel, add, or replace T5008 slips.
For more information, select a topic below:
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Amending T5008 slips
After filing your information return, you may notice an error on the T5008 slips. If so, you will have to prepare amended slips to correct the information.
Amending slips over the Internet
To amend a slip over the Internet, change only the information that is incorrect and retain all of the remaining information that was originally submitted. Use summary report type code “A” and slip report type code “A.”
For more information about amending information returns using the Internet, go to Filing Information Returns Electronically.
Amending slips on paper
If you chose to file your amended return on paper, clearly identify the new slips as amended by writing “AMENDED” at the top of each slip. Make sure you fill in all the necessary boxes, including the information that was correct on the original slip. Send two copies of the slips to the recipient.
Send one copy of the amended slips with a letter explaining the reason for the amendment to your tax centre. Do not file an amended T5008 Summary.
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Cancelling T5008 slips
A cancelled slip is considered to be the same as an amended slip.
Cancelling slips over the Internet
To cancel a slip over the Internet, do not change any information that was contained on the original slip. Use summary report type code "A" and slip report type code "C".
For more information about cancelling information returns using the Internet, see Filing Information Returns Electronically.
Cancelling slips on paper
If you chose to file your cancellation on paper, clearly identify the new slips as cancelled by writing “CANCELLED” at the top of each slip. Make sure you fill in all the necessary boxes, including the information that was correct on the original slip. Send two copies of the slips to the recipient.
Send one copy of the cancelled slips with a letter explaining the reason for the cancellation to your tax centre. Do not file a cancelled T5008 summary.
Note
If you notice errors on the slips before you file them with us, you can correct them by preparing new slips and removing any incorrect copies from the information return. If you do not prepare a new slip, initial any changes you make on the slip. Ensure you also correct the T5008 summary.
After filing your information return, you may notice an error on the T5008 slips. If so, you will have to prepare amended slips to correct the information.
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Adding T5008 slips
After you file your information return, you may discover that you need to send the CRA additional slips. If you have original slips that were not filed with your information return, file them separately either electronically or on paper.
If you file additional slips on paper, clearly identify the new slips by writing “ADDITIONAL” at the top of each slip. Send one copy of the additional slips to any tax centre.
The CRA also accept additional T5008 original slips in electronic format. For more information, see Filing methods.
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Replacing T5008 slips
If you issue T5008 slips to replace copies that were lost or destroyed, do not send the CRA copies of these slips. Clearly identify them as “DUPLICATE” copies and keep a copy for your records.
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