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yannis-andreadakis

Level 1

Question

In Oct, my parents, back in Greece, added my name in a joint savings bank account that hasn't exceeded 100K CAN. Do I have to report my share as foreign income?

Forum|Forum|1 month ago
April 25, 2026
1 reply
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Level 15

You only have to fill out the Form T1135 - Foreign Income Verification Statement, if at any time during the year, you owned specified foreign property costing more than $100,000. If the bank account is the only foreign asset you have, then you likely don't need to fill out the T1135. However, if you have other foreign property, even in another country (like a US bank account), the cost of that would count toward the $100,000.

Also, if you get any interest from the bank account, you would need to report it on the Foreign slip.