📣 Impacted T1 Individual Filers – Relief for Forms and Elections

On January 31, 2025, the CRA announced that "impacted T1 Individual filers" are eligible for interest and penalty relief until June 2, 2025.

Many members have asked us whether the waiver of interest and penalties also extends to elections and forms that are due when the T1 is due (e.g., T1135).

The CRA has indicated that the relief extends to forms and elections normally included with T1 returns. Specifically, the CRA stated:

"The CRA will grant relief in respect of late-filing penalties and arrears interest until June 2, 2025, for impacted T1 Individual filers to provide additional time for taxpayers reporting capital dispositions to meet their tax filing obligations. This relief extends to any forms and/elections that are normally included with T1 returns, including Form T1135 Foreign Income Verification Statement."