A T5 slip, Statement of Investment Income, reports dividends, interest and other investment income paid to Canadian residents. As of October 2026, the payer files the T5 slips and T5 Summary with the CRA and gives recipients their copies by the last day of February after the year, and you don't need a slip when the total paid to one recipient for the year is less than $50.
If you own a small corporation and pay yourself dividends, you're a T5 filer, not just a recipient. That's the case most small business owners miss, so this guide covers both sides, using the CRA's T5 Guide.
Who files a T5 slip
Anyone who pays investment income that has to be reported: corporations paying dividends, financial institutions paying interest, and others paying amounts covered by the guide. A corporation paying dividends to its owner-manager has to file a T5 return like any other payer.
Recipients have to give their social insurance number, trust account number or business number on request to anyone preparing a slip for them. If you can't get a SIN from a recipient after a reasonable effort, you still file by the deadline without it.
When you don't need a T5 slip
- Amounts paid to one recipient when the total for the year is less than $50
- The interest part of a blended payment made by an individual
The $50 test is the total for the year per recipient, not each payment. Those amounts are as of October 2026.
The main T5 boxes
| Box | What it reports |
|---|---|
| 10 | Actual amount of dividends other than eligible dividends |
| 11 | Taxable amount of those dividends (actual amount plus gross-up) |
| 13 | Interest from Canadian sources |
| 14 | Other income from Canadian sources |
| 18 | Capital gains dividends |
| 22 | Recipient identification number |
| 23 | Recipient type, with code 2 for a joint account |
| 24 | Actual amount of eligible dividends |
| 25 | Taxable amount of eligible dividends (actual amount plus gross-up) |
The gross-up is where small corporations most often go wrong. For eligible dividends, the taxable amount in box 25 is the actual dividend plus a gross-up of 38%. For dividends other than eligible dividends paid in 2019 or later, box 11 adds a gross-up of 15%. Boxes 11 and 25 are only completed for individuals resident in Canada, not for a corporation recipient.
T5 deadline and filing rules
| Rule | As of October 2026 |
|---|---|
| Filing deadline | The last day of February after the calendar year |
| Recipient copies | By the same date, two copies to each recipient |
| Mandatory Internet filing | If you file more than 5 slips for a calendar year |
| Business or activity ends | Slips due no later than 30 days after it ends |
| Weekend or holiday due date | On time if received or postmarked the next business day |
Internet filing for the 2026 year opens on January 11, 2027, using Web Forms or Internet file transfer. The CRA strongly encourages electronic filing even for 5 slips or fewer.
T5 penalties
The minimum penalty for filing the T5 return late is $100 and the maximum is $7,500. Filing more than 5 slips on paper when you should have filed online brings a separate penalty based on the number of slips, assessed per type of return: the CRA's example is 6 T5 slips and 6 T4 slips filed on paper, which brings two penalties of $125. Not making a reasonable effort to get a recipient's SIN can cost $100 for each failure. These figures are as of October 2026, in Canadian dollars.
If circumstances beyond your control stopped you filing, the CRA's taxpayer relief provisions let it cancel or waive penalties and interest. Interest also runs on unpaid amounts from the day they were due, at the prescribed rate the CRA sets every three months, and it applies to unpaid penalties too.
Joint accounts, nominees and non-residents
For a joint account, the T5 slip shows the primary representative, or the secondary one if known, with the primary representative's SIN in box 22 and code 2 in box 23, which tells the CRA it's a joint account. If you receive investment income as a nominee or agent for a person resident in Canada, you prepare the T5 for them.
Don't report investment income paid to non-residents of Canada on a T5 slip: the guide sends those payments to its separate chapter on non-residents. And if you're a trustee who owns and controls property for another person, the return is a T3, not a T5.
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How to file T5 slips
- List every recipient paid $50 or more of reportable investment income in the year.
- Collect each recipient's SIN or business number.
- Split dividends into eligible and other than eligible, and work out boxes 11 and 25 with the gross-up.
- Complete a T5 slip for each recipient and the T5 Summary.
- File online if you have more than 5 slips, by the last day of February.
- Send two copies of each slip to the recipient by the same date.
If you also pay staff, your T4 slips follow the same February deadline, and construction businesses have a separate slip for subcontractors covered in our T5018 guide.
The verdict
If your corporation paid you a dividend, you owe the CRA a T5, even if you're the only shareholder. Get the eligible or other-than-eligible split right, apply the 38% or 15% gross-up, and file online by the end of February. It's the slip owner-managers forget most, and the late penalty starts at $100.
Frequently asked questions
What is a T5 slip?
The Statement of Investment Income, used to report dividends, interest and other investment income paid to Canadian residents.
When is the T5 slip due?
The T5 return and recipients' copies are due by the last day of February following the calendar year.
Do I need a T5 for less than $50?
No. You don't have to prepare a T5 slip when the total paid to one recipient for the year is less than $50.
Does my corporation need to issue a T5 for dividends paid to me?
Yes. A corporation paying dividends files T5 slips, including for dividends paid to its owner.
What is the T5 gross-up?
For eligible dividends the taxable amount adds 38%. For other dividends paid in 2019 or later it adds 15%.
What is the penalty for filing a T5 late?
The minimum late-filing penalty is $100 and the maximum is $7,500.
