CRA Form T5 Statement of Investment Income
Report investment income such as dividends and interest paid to individuals during the year.
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About T5
Form T5, Statement of Investment Income, is an information slip used to report investment income paid to an individual or entity. Financial institutions and other payers issue it to recipients and file a copy with the Canada Revenue Agency.
The slip reports amounts such as eligible and other than eligible dividends, interest from Canadian sources, and certain foreign income. It also shows the dividend gross-up and related figures needed to calculate the dividend tax credit.
Recipients use the T5 to report investment income on their T1 personal income tax return, while payers are responsible for preparing the slips, distributing them, and filing the summary with the CRA.
Who needs to complete it
- Financial institutions and payers that pay interest or dividends
- Corporations paying taxable dividends to shareholders
- Recipients of interest income from Canadian sources
- Individuals who received dividend income during the year
- People who received certain foreign investment income reported on a slip
How to fill out T5
- 1Enter the payer name, address, and account number.
- 2Enter the recipient name, address, and social insurance number or business number.
- 3Report the calendar year the slip covers.
- 4Enter interest income from Canadian sources in the appropriate box.
- 5Enter dividend amounts, including the gross-up, in the correct boxes.
- 6Report any foreign income and foreign tax paid where applicable.
- 7Distribute copies to the recipient and file the slips and summary with the CRA by the deadline.
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Frequently asked questions
What income is reported on a T5?
A T5 reports investment income such as interest, eligible and other than eligible dividends, and certain foreign income paid during the year.
Is there a minimum amount for a T5?
Payers generally do not have to issue a T5 for very small amounts of investment income, but recipients must still report all income they earn.
When are T5 slips due?
Payers generally must issue T5 slips and file the summary with the CRA by the last day of February following the calendar year.
Why does the dividend amount look higher than what I received?
Dividends are grossed up on the slip to reflect the amount used to calculate the dividend tax credit. You report the grossed-up amount and claim the credit on your return.