Fixed fees agreed before work starts – 18,000+ clients served
At Legal Quotient Consultants, we manage all your T1135 foreign asset reporting requirements, from compliance to strategic planning. Our expert team ensures compliance, maximizes deductions, and optimizes your financial strategies so you can focus on growing your business. Low-cost T1135 Foreign Asset Reporting for Cross-Border & Global Clients with a fixed fee agreed in writing before any work starts. Call the 24-hour helpline on +1 (416) 619-0068, or request a written quote today.
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Stay compliant and optimize your financial processes with our specialized T1135 foreign asset reporting services.
| Service | Includes | Fee | |
|---|---|---|---|
| Individual Cross-Border Tax | T1 + treaty coordination · Foreign income · Credits | FROM- $349 | Explore More |
| U.S. Tax Returns | 1040 / 1040-NR · State returns · FBAR | FROM- $449 | Explore More |
| Corporate International Tax | T2 + foreign affiliate · T1134 · Repatriation | FROM- $999 | Explore More |
| Transfer Pricing Documentation | Local file · Benchmarking · s.247 compliance | FROM- $2,500 | Explore More |
| Cross-Border Estate & Trust | Terminal returns · U.S. estate tax · Clearance | FROM- $799 | Explore More |
A Canadian resident whose specified foreign property cost more than the threshold at any point in the year files Form T1135 with the return. The property counted includes foreign bank accounts, shares of foreign companies held anywhere — including in a Canadian brokerage account — foreign bonds and debts, interests in foreign trusts, foreign real estate other than personal-use property, and property held for use in a foreign business; it excludes registered plan holdings, personal-use property and shares of Canadian companies. Cost, not value, is the measure, converted to Canadian dollars.
The form has a simplified method below a higher threshold and a detailed method above it that reports each property by country with its cost, income and gain. Penalties are per-day for late filing up to a fixed maximum and much larger where the omission is knowing, and the CRA's reassessment period on the return is extended when the form is missed. It is filed whether the property produced any income, and it is the form most commonly missed by newcomers and returning residents.
Do US shares in my Canadian brokerage account count? Yes. Shares of a non-resident corporation are specified foreign property wherever the account that holds them is located, unless the account is a registered plan.
Is my holiday home abroad reportable? Not if it is personal-use property; a foreign property that is rented out, held for investment or used in a business is reportable at its cost.
T1135 Foreign Asset Reporting: Legal Quotient Consultants provides t1135 foreign asset reporting for anyone paying or receiving cross-border amounts — planned and filed by cross-border specialists, with fixed fees agreed up front and every position explained before anything is submitted.
Send your documents securely through our portal or by email.
We prepare your T1135 foreign asset reporting return and every supporting schedule.
You review each figure and approve before anything is filed.
We file with the CRA and send you the confirmation of receipt.
| Factor | Legal Quotient Consultants | Typical Firm |
|---|---|---|
| Pricing model | Fixed, flat fee | Hourly / unpredictable |
| Experience | 15+ years, 18,000+ clients | Varies |
| Helpline | 24 hours a day, +1 (416) 619-0068 | Office hours only |
| Where we work | Our offices in India, the USA, Canada and the UAE | One office only |
| CRA audit support | Included | Billed extra |
The T1135 applies at $100,000 of cost — not value — and the $25/day penalty runs even when no tax is owing; the simplified method covers the $100k–$250k band.
Canada's treaty network reduces statutory withholding — Part XIII's 25% on dividends, interest, royalties and pensions often drops to 15%, 10% or nil — but only when the payer applies the treaty correctly and the recipient can prove entitlement. Engagements are quoted as a fixed fee for a defined scope, and reviews of prior-year filings are included where earlier positions affect the current one.
Covers: Both US foreign-asset reports prepared from one account and asset list, with the different contents each of them requires, and reconciled to the return they accompany.
What moves it up: Accounts you do not think of as yours. Signature authority over an employer's or a relative's account is inside one report and often outside the other, and finding them takes longer than filing them.
See this fee pageCovers: The Canadian foreign property statement built on cost amount, in Canadian dollars, across everything the test reaches — including holdings people assume are excluded.
What moves it up: Missing acquisition records. The statement is tested on cost, so a holding bought fifteen years ago in another currency has to be reconstructed before it can be reported.
See this fee pageCovers: The Canadian return with foreign income, foreign tax credits computed by category and country, and the foreign property reporting that usually accompanies them.
What moves it up: The number of countries. One foreign employer is a straightforward credit; income and tax from three countries means three separate credit computations with their own limits.
See this fee pageProviding tailored T1135 foreign asset reporting services to ensure compliance and maximize deductions.
Our cross-border tax accountants protect your business with complete federal and provincial tax compliance.
A dedicated team that handles your financials quickly and accurately, at a fixed fee agreed in writing before any work starts.
Dedicated preparation processes built around the countries each client files in.
Documents, questions and signatures in one portal, whichever country you are filing from.
Customized packages designed to grow as your business operations expand.
Start with a free, no-obligation consultation to review your business’s financial, tax filing and compliance needs and outline our affordable solutions.
Receive a comprehensive checklist and securely provide the required financial records and documents.
Our tax accountant and accounting experts carefully prepare your filings, identify all applicable deductions and credits, and conduct thorough reviews.
We file your documents electronically with the Canada Revenue Agency (CRA) on time and provide post-filing support.
Quoted up front, in writing.
Contact UsCA (India), CA (Malaysia)
CA (India)
FCA (India)
CPA (Canada), CPA (USA), CA (India)
CPA (Canada), CA (India)
T1135 Foreign Asset Reporting starts at a fixed fee quoted before any work begins. The quote is locked at the outset and does not change mid-engagement, and you review the deliverable with us before it is filed. Compare every plan on our transparent pricing page.
At minimum: prior-year returns and notices of assessment, your bank and credit-card statements for the fiscal period, payroll records if you have employees, and GST/HST filings. We send a checklist tailored to your situation after the first call to our 24-hour helpline.
Most engagements are completed within 3 to 5 business days once your documents are complete. Catch-up work covering multiple years takes longer, and we tell you the realistic timeline before you commit rather than after.
We respond on your behalf at no extra charge for any return we prepared. Every figure we file is supported by documentation retained in your file, which is what turns a CRA review from a crisis into correspondence. See how our CRA audit support works.
Yes. The late-filing penalty is 5% of the balance owing plus 1% of that balance for each full month the return is late, to a maximum of 12 months (CRA, 2025 tax year). Interest is what compounds, daily, on top. We prioritise catch-up work and, where eligible, file under the CRA's Voluntary Disclosures Program to reduce penalties.
Yes. We work with clients wherever they live, from our offices in India, the USA, Canada and the UAE, and your location does not change the price or the service. Browse our coverage by country and region to find yours.
We work across construction, healthcare, e-commerce, professional services, restaurants, real estate, transportation, technology and non-profits, each with its own deduction profile and the points tax authorities scrutinise. See all industries we serve.
Software applies the rules you told it about. It does not ask whether a treaty caps the withholding on that payment, whether the foreign credit was claimed in the right country, whether an information return was due on an account that earned nothing, or whether your related-party pricing is documented. Those are the questions that move the number on a cross-border file.
Our T1135 foreign asset reporting services include complete filing, compliance management, and strategic advice customized to Canadian tax laws.
You can start by calling our 24-hour helpline on +1 (416) 619-0068 or sending the form. We will review your files, provide a fixed quote, and start working immediately.
They can be. Canada's deemed-resident-trust rules can pull a non-resident trust into the Canadian tax system where there is a resident contributor or, in some cases, a resident beneficiary — taxing it as though it were resident here. Separate reporting applies to transfers or loans to a non-resident trust and to distributions and debts from one. The planning point is that contributing to an offshore trust from Canada rarely achieves what the brochure suggests. See non-resident trusts.
Mostly from information you or your bank already provided. Account-opening forms ask you to self-certify tax residence, and that certification is reported between authorities under the Common Reporting Standard or, for US accounts, under the FATCA framework. Beyond that: employer and payroll filings, property registries, immigration records and the tax filings of anyone who paid you. The realistic planning assumption is that the data arrives. See FATCA and information reporting.
Still have questions? View our FAQ page or contact us.
A newcomer to Canada with foreign investment accounts needed those holdings reviewed against the specified foreign property threshold for the first time, since the obligation attaches once residency begins regardless of the holder's prior filing history elsewhere. We reviewed the client's foreign holdings and filed the disclosure the threshold required.
A resident who discovered their foreign property disclosure had been filed late needed the resulting penalty exposure reviewed and a request for relief prepared on the client's specific circumstances. We reviewed the reasons behind the delay and prepared the relief request on the facts that supported it.
A family whose foreign account disclosures had been prepared inconsistently across several years needed the filings reviewed and brought into a single consistent position going forward. We reviewed each year's filing, corrected the inconsistencies, and set up a routine that kept future disclosures aligned with the family's actual holdings.
Cross-border retirement accounts are recognised by treaty, but the deferral usually has to be elected rather than assumed. The engagement checks whether the election was made, makes it where it was missed, and reports the account on whichever side requires it.
Read how this one runsFiling many years at once is a sequencing problem: carry-forwards, instalments and credits from the earliest year feed the latest. Filing them out of order is what turns a recoverable position into an assessed one.
Read how this one runsContributions or beneficiaries in Canada can bring a foreign trust inside the Canadian net entirely. The analysis is who contributed what and when, because the answer decides whether the trust files here at all.
Read how this one runsThe arrival date splits the year and sets the cost base of what you brought with you. Getting that date and those values right is what determines whether a later sale is taxed on the whole gain or only on the part that accrued after landing.
Read how this one runsFlat withholding applies at source whether or not a return would produce the same figure. The engagement establishes treaty entitlement, files what is needed to claim the reduced rate, and recovers what went out at the domestic rate.
Read how this one runsAll case studies — every published engagement in one place.
Strategy and compliance for income, assets and families spread across borders.
Firms and partners working across borders meet Regulation 105 withholding, PE risk on long engagements and per-country payroll for travelling staff.
A partnership is taxed in the hands of its partners, so one engagement abroad can reach every partner's personal return. The order matters: the waiver is applied for before the invoice, the presence is tracked before it becomes an establishment, and the payroll is registered before the first day worked in the other country.
Where our partners studied — CPA Canada (In-Depth Tax Program), AICPA, the Institute of Chartered Accountants of India and the Malaysian Institute of Accountants.
