If you held property outside Canada in 2025 and both of the following conditions are met, you must report it:

• the property is designated foreign property;
• the total cost of the property was more than CAD 100,000 at any time during the year.

To report designated foreign property, complete a Foreign Property Return (TP-1079.8.BE-V). You must send it to us it by the filing deadline for your income tax return (April 30 or, if you or your spouse carried on a business, June 15) even if you are not required to file an income tax return for the year. Failure to file the form could lead to penalties.

Note that you do not need to file form TP-1079.8.BE-V if you became a resident of Canada in 2025.