# T1135 - funds held outside canada

**URL:** <https://www.protaxcommunity.com/t/t1135-funds-held-outside-canada/663>\
**Category:** T1\
**Created:** [March 23, 2016, 10:03pm UTC](https://www.protaxcommunity.com/t/t1135-funds-held-outside-canada/663 "2016-03-23T22:03:34Z")\
**Posts on this page:** 3\
**Page:** 1

<div class="post-metadata">

**Author:** ![kytax2015](https://avatars.discourse-cdn.com/v4/letter/k/d9b06d/32.png) [@kytax2015](https://www.protaxcommunity.com/u/kytax2015)\
**Post date:** [March 23, 2016, 10:03pm UTC](https://www.protaxcommunity.com/t/t1135-funds-held-outside-canada/663/1 "2016-03-23T22:03:34Z")

</div>

Hello,

Just wondering, if a person have a trading account outside Canada, but the cost to acquired those shares are \< $100,000 CAD. It a share option from the company. Now he sold the shares, because he no longer working there, and the funds in the account is more than $100,000 CAD. If he leave the funds in the account for future trading, does he need to file a T1135 indicating that he has funds held outside Canada over $100,000 CAD at any time during the year?

My answer is no, because it is not a bank account, it an investment account. But if he use the money to buy more shares and the when the cost is \>100,000 CAD then he need to file T1135. correct?

Thanks,

---

<div class="post-metadata">

**Author:** ![snoplowguy](https://sea2.discourse-cdn.com/flex016/user_avatar/www.protaxcommunity.com/snoplowguy/32/2535_2.png) [@snoplowguy](https://www.protaxcommunity.com/u/snoplowguy)\
**Post date:** [March 24, 2016, 12:14am UTC](https://www.protaxcommunity.com/t/t1135-funds-held-outside-canada/663/2 "2016-03-24T00:14:30Z")

</div>

My feeling would be as soon as the shares were sold and converted to cash he now has foreign assets in excess of $100,000. Cash in a foreign trading account is still considered funds held outside Canada.

---

<div class="post-metadata">

**Author:** ![kytax2015](https://avatars.discourse-cdn.com/v4/letter/k/d9b06d/32.png) [@kytax2015](https://www.protaxcommunity.com/u/kytax2015)\
**Post date:** [March 24, 2016, 5:03pm UTC](https://www.protaxcommunity.com/t/t1135-funds-held-outside-canada/663/3 "2016-03-24T17:03:21Z")

</div>

oh… I see… then easily for those investors, they will need to file T1135.