Table of penalties

In this table, "Yes" means that you may face a penalty for non-compliance, while "No" means you won't face a penalty.

Possible non-compliance penalties relating to foreign reporting
Penalties (based on applicable section of the Income Tax Act) Form T1134 Form T1135 Form T1141 Form T1142
162(7) – Failure to comply Yes Yes Yes Yes
162(10)(a) – Failure to furnish foreign-based information Yes Yes Yes No
162(10)(b) – Failure to furnish foreign-based information Yes Yes Yes Yes
162(10.1) – Additional penalty Yes Yes Yes No
163(2.4) – False statement or omission Yes Yes Yes Yes
233.5 – Due diligence exception Yes No Yes No 

Failure to file

False statements and omissions

Due diligence exception

Forms and publications

Report a problem or mistake on this page
Please select all that apply:

Thank you for your help!

You will not receive a reply. For enquiries, contact us.

Date modified: