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I want to do a VDP for multiple years. Like 8 years.
So do I fill up 8 RC199 forms for each year? Or just 1 RC199 form and 8 T1-ADJ forms and 8 T1135 forms? And 8 Amended T1 returns with it?
If a T1-ADJ form is sent for each year, should we also send a amended T1- Full return along with it i.e Where you complete the T1 amended return and instead of refiling it, you print it and mail it along with the T1-ADJ? Or only T1-ADJ for that year or years is enough?
My Situation: For 8 years
1. Foreign Bank Account not disclosed
2. Interest from Foreign Bank Account not shown in each year.
3. Foreign Bank Account joint with husband.
Now how many T1135, T1-ADJ, T1-Amended Full return, RC199 do we have t file?
Is it 8 of ALL of the above forms for each one of us?
1.
Hi Nick,
Thank you for your detailed message. Based on what you’ve shared, it sounds like a strong case for making a VDP submission, especially with multiple years of unreported foreign income and T1135 omissions. Here’s a breakdown to help clarify the filing requirements and process:
What to File – Per Taxpayer:
Since the issue spans 8 years, and you’re looking to disclose foreign interest income and omitted T1135 filings, here's what is generally required per individual (so this applies to both you and your husband):
- One RC199 Form
- 8 x T1-ADJ Forms (one per year)
- 8 x Amended T1 Returns (optional but recommended)
➤ CRA doesn't strictly require the full T1 return when submitting a T1-ADJ, but including a completed amended T1 package for each year helps speed up processing and shows clear intent.
➤ You can mark them “AMENDED – DO NOT REFILE” and include them with the T1-ADJs. - 8 x T1135 Forms
➤ One for each year foreign assets exceeded $100,000 CAD (cost basis).
➤ Must be submitted for each year where the threshold was met, even if no tax was owing.
➤ You only need one RC199 form per taxpayer, regardless of the number of years being disclosed.
➤ This form acts as the official application to the VDP.
➤ Use T1-ADJ to request adjustments to each year’s personal tax return.
➤ This form highlights the specific changes (e.g., added interest income).