If you have a savings account, a Guaranteed Investment Certificate (GIC), or hold stocks in a non-registered account, you'll likely encounter the T5 slip during tax season.
The T5 slip — officially called the Statement of Investment Income — reports various types of investment income you earned throughout the year in non-registered accounts.
Key facts about T5 slips: you must report the income even if you don't receive a slip, it's sent to both you and the CRA (the information is already on file), it reports interest, dividends, royalties, foreign income, and other investment amounts, it's only required when you earn $50 or more from a single payer, and it's issued by banks, credit unions, and brokerage firms.
Understanding your T5 helps you file your taxes accurately and claim the credits you're entitled to.
What is a T5 slip, and what does it include?
The T5 slip is a tax document issued by financial institutions to report certain types of investment income you earned during the calendar year. Since the issuer sends a copy to the CRA, the information is already on file — even if you forget to report it (the CRA's matching system will catch discrepancies).
Investment income reported on a T5 includes annuities, capital gains dividends, interest from equity-linked notes, interest from savings accounts, GICs, and bonds, dividends from Canadian shares, foreign income, and royalties.
How does a T5 differ from a T3?
Some taxpayers confuse the T5 slip with the T3 slip. The distinction matters for accurate reporting:
| Slip | Primary use | Common sources |
|---|---|---|
| T5 | Interest, dividends, and other investment income | Banks, credit unions, and some mutual funds structured as corporations |
| T3 | Income from trusts | ETFs, mutual funds structured as trusts, and income trusts |
The structure of your investment determines which slip you receive. Most ETFs and mutual funds organized as trusts issue T3 slips, but some (structured as corporations) issue T5 slips instead. If you invest through multiple platforms, you may receive both slip types in the same tax year.
T5 slips apply only to non-registered accounts. Income earned inside a TFSA or RRSP is tax-sheltered and won't trigger a T5.
What do the boxes on your T5 mean?
Each box on the T5 reports a specific type of income. Understanding which boxes matter — and where they go on your return — prevents errors and ensures you claim applicable credits.
| Box | Type of income | Tax return line | Key details |
|---|---|---|---|
| 13 | Interest from Canadian sources | Line 12100 | Savings accounts, GICs, bonds — taxed at your full marginal rate |
| 24 | Actual eligible dividends | Do not report directly | The actual cash received from public Canadian companies |
| 25 | Taxable eligible dividends | Line 12000 | Grossed-up amount (38% higher than Box 24) |
| 10 | Actual non-eligible dividends | Do not report directly | Cash received, typically from private corporations |
| 11 | Taxable non-eligible dividends | Lines 12010 & 12000 | Grossed-up amount (15% higher than Box 10) |
| 15 | Foreign income | Line 12100 | Foreign interest/dividends converted to CAD |
| 16 | Foreign tax paid | Line 40500 | Claim as a Foreign Tax Credit to avoid double taxation |
| 17 | Royalties | Line 12100 | Income from inventions or works (Line 10400 if business income) |
| 18 | Capital gains dividends | Line 17400 | Found on mutual fund T5s — only 50% taxable under standard inclusion |
| 30 | Equity-linked notes | Line 12100 | Deemed interest from the transfer or assignment of linked notes |
Dividend tax credits
While Box 25 and Box 11 show higher "taxable amounts" than the cash you received (due to gross-up), you aren't being unfairly taxed. Box 26 (eligible) and Box 12 (non-eligible) contain your Dividend Tax Credit amounts, which you claim on Line 40425 to reduce your total tax owing. The gross-up and credit system exists to prevent the CRA from taxing the same corporate profit twice.
Who receives a T5 slip?
Financial institutions must issue a T5 if you earned $50 or more in investment income from them during the calendar year. However, the $50 threshold applies only to the issuer's obligation — not your reporting requirement.
If you earned less than $50 and didn't receive a slip, you're still legally required to report that investment income on your return. The CRA has no minimum threshold for reporting, only for slip issuance.
How do you get your T5 slip?
Multiple options exist for accessing your T5: request online access through your financial institution's portal, wait for the paper copy by mail, or log in to CRA My Account once the issuer files with the CRA.
After signing into CRA My Account, navigate to the "Tax Information Slips" section. Your T5 (and other slips like your T4) will appear there once your financial institution submits them — typically by mid-March.
Do you need to send your T5 to the CRA?
No. When filing online, you're not required to send your T5 slip to the CRA. Simply use the information on your T5 to complete your return. However, keep a copy for at least six years — the CRA may request supporting documents during a review or reassessment.
What are the important T5 deadlines?
Financial institutions must issue T5 slips by the last day of February. When that date falls on a weekend or holiday, the deadline shifts to the next business day.
| Deadline | Date for 2025 tax year |
|---|---|
| T5 issuance | March 2, 2026 (Feb 28 falls on Saturday) |
| Personal filing | April 30, 2026 |
| Self-employed filing | June 15, 2026 (taxes owing still due April 30) |
If you haven't received your T5 by early March, check your financial institution's online portal or log into CRA My Account. Contact the issuer directly if the slip is still missing — the CRA can only provide copies after the issuer files.
What should you do if your T5 is missing?
First, check CRA My Account. If your financial institution filed the slip, it will appear there even if the paper copy never arrived. If the slip isn't available online, contact the institution directly.
As a last resort (if the institution is uncooperative or has closed), you can use your December account statements to estimate the amounts and file on time. Be prepared to amend your return later once the official slip becomes available — estimates may not capture all required details.
File your taxes with confidence
Your T5 slip is how the CRA tracks earnings from your non-registered investments. While financial institutions only issue slips for amounts of $50 or more, no minimum threshold exists for reporting — even a few dollars in interest should appear on your return. Accurate reporting prevents matching errors and protects you from reassessments.
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Frequently asked questions
Do I need a T5 for my TFSA or RRSP?
No. Income earned inside [registered accounts TFSA, RRSP, RESP is tax-sheltered. You won't receive a T5 for investment income within those accounts.
What if I earned less than $50 in interest?
You likely won't receive a T5 (issuers aren't required to prepare one for amounts under $50), but you must still report the income on your return. Check your account statements for the exact amount.
Why is my "taxable dividend" higher than what I received?
Canadian dividends are "grossed up" to reflect pre-tax corporate earnings. You'll receive a corresponding Dividend Tax Credit (Box 12 or Box 26) to offset the higher taxable amount, so you're not actually paying more tax.
Can I file before receiving my T5?
You can, but it's risky. Filing without accurate slip information may trigger CRA reassessments when they match your return against the slips on file. Waiting until early March gives issuers time to file.
