https://financialpost.com/personal-finance/taxes/cra-taxpayer-penalties-reporting-u-s-holdings If you own “specified foreign property” where the total cost at any time in the year is more than $100,000, you’re required to complete Form T1135, Foreign Income Verification Statement with your personal tax return. While most of us would agree that a Swiss bank account with a value of more than $100,000 in Read more about CRA hits taxpayer with $5,000 in penalties for mistake in reporting U.S. holdings[…]