Completing the T5 slip

For dividends paid after 2005, enter the actual amount of dividends other than eligible dividends, or the amount we deem to be dividends other than eligible dividends, paid by a Canadian corporation.

For recipients who are individuals resident in Canada (other than a trust that is a registered charity), the dividends must be paid by a taxable Canadian corporation.

Do not include:

• dividends paid or payable by a credit union to a member who has a share in the credit union, if the share is not listed on a stock exchange (we treat these amounts as interest, see box 13)
• dividends paid to individuals who are not eligible for the federal dividend tax credit (see box 14)
• eligible dividends (see box 24)
• taxable dividends, paid by a mortgage investment corporation (see box 13)
• capital gains dividends (see boxes 18 and 34)

Complete box 11 only for individuals resident in Canada (other than a trust that is a registered charity). Enter in box 11 the total from box 10 plus the taxable gross-up amount.

For dividends paid in 2019 or later, the taxable gross-up amount is 15% of the amount of dividends reported in box 10. For dividends paid in 2018 or before, use the gross-up factor in the table under "Reporting requirements" at Unclaimed amounts: Dividends or interest.

Do not enter an amount in box 11 if the dividends entered in box 10 are paid to a corporation.

Complete box 12 only for individuals resident in Canada (other than a trust that is a registered charity).

For dividends paid in 2019 or later, the amount you enter in box 12 is 9/13 of the taxable gross-up amount, or 9.0301% of the amount you entered in box 11.

For dividends paid in 2018 or before, see the dividend tax credit percentage in the table under "Reporting requirements" at Unclaimed amounts: Dividends or interest.

Do not enter an amount in box 12 if the dividends entered in box 10 are paid to a corporation.

Enter the following amounts, as long as you did not previously report them:

• interest on a fully registered bond or debenture
• interest on money loaned to or on deposit with, or interest on any kind of property placed with, a corporation, association, organization, institution, partnership, or trust
• interest on an account with an investment dealer or broker
• interest an insurer paid in connection with an insurance policy or annuity contract
• interest on an amount owing as compensation for property that has been expropriated
• the interest part of Blended payments unless paid by an individual or if paid by a corporation, association, organization, institution, partnership, or trust
• dividends paid or payable by a credit union to a member who has a share in the credit union, if the share is not listed on a designated stock exchange
• taxable dividends, other than capital gains dividends, that a mortgage investment corporation paid to any of its shareholders

Do not include:

• interest from a source outside Canada (see box 15)
• the interest part of a blended payment made by an individual
• interest one individual pays to another, such as interest paid on a private mortgage (this does not include investment dealers or brokers making payments for client program accounts)
• interest paid on loans from banks, financial institutions, or other institutions whose usual business includes lending money
• the accrued income from an annuity described under former paragraph 56(1)(d.1), or accrued income of certain life insurance policies (see box 19)

For more information on accrued interest on investment contracts, see Accrued interest. For more information on unclaimed interest, see Unclaimed amounts.

Other information

The "Other information" area in the middle of the T5 slip has blank boxes for you to enter codes and amounts that relate to other income from Canadian sources, foreign income, foreign tax paid, royalties from Canadian sources, accrued income, and annuities. You can also use this area for any other entries that apply.

The boxes are not pre-numbered as in the top part of the slip. Enter the following codes (the numeric codes for the boxes) that apply to the recipient. 

Identify a box in the "Other information" area as box 14. In the "Amount box", enter, in Canadian currency, the other income from Canadian sources.

Other income includes:

• taxable dividends and deemed dividends (see Deemed dividends) paid to an individual by a corporation resident in Canada that is not a taxable Canadian corporation
• amounts reported by life insurers, to be included in a policyholder's income under paragraph 56(1)(j)
• amounts distributed from an eligible funeral arrangement (EFA) after 1995 to a taxpayer as a return of funds

An EFA is an arrangement a qualifying person establishes and maintains solely to fund funeral or cemetery services for one or more individuals. The custodian then reports the amounts distributed from the arrangement after 1995 that are not payments for providing funeral or cemetery services and that do not reflect contributions previously made. The custodian can be the trustee of any trust governed by an EFA. If a trust is not involved, the custodian can be any person who receives a deposit under the EFA for providing funeral services. This person has to be licensed or authorized under the laws of a province or territory to provide funeral or cemetery services for individuals.

The EFA's custodian has to enter the code "14" in a generic box in the "Other information" area. The amount you have to report in the "Amount box" next to box 14 is the lesser of:

• the amount distributed from the EFA to a taxpayer (other than as payment for providing funeral or cemetery services for the individual from whose account the amount was distributed)
• the amount on line 7 of the following chart:

Identify a box in the "Other information" area as box 15. In the "Amount box," enter, in Canadian currency, the gross foreign income received from sources outside Canada. Do not reduce the amount by any foreign income tax that was withheld. Enter any amounts for foreign spin-off shares received from sources outside Canada. If you cannot report the amount in Canadian currency, see the instructions for box 27.

Identify a box in the "Other information" area as box 16. In the "Amount box," enter in Canadian currency the foreign income tax, if any, which was withheld from the gross foreign income you reported in box 15. The recipient of the T5 slip will need to know this amount to calculate their federal, provincial, or territorial foreign tax credits. If you cannot report the amount in Canadian currency, see box 27.

Identify a box in the "Other information" area as box 17. In the "Amount box," enter the royalties paid during the year. Royalties include payments for the use of a work, an invention, or a right for production from natural resources.

Enter the amount of capital gains dividends that were paid by:

• an investment corporation
• a mortgage investment corporation
• a mutual fund corporation

Identify a box in the "Other information" area as box 19, and in the "Amount box," enter:

• the accrued earnings on a life insurance policy to be included in a policyholder's income under section 12.2
• the annuity payments to be included in income under former paragraph 56(1)(d.1) for annuity contracts issued before 1990

Enter on each slip one of the following codes to indicate whether the slip is:

• "O" original
• "A" amended (changing the financial data or identification information)
• "C" cancelled

When using code "A" or "C," enter a description at the top of the T5 slip (for example, "AMENDED" or "CANCELLED") and include a letter of explanation when you file a copy of the slip with us. For more information, see Amending, cancelling, adding or replacing T5 slips.

If the recipient is an individual (other than a trust), enter the individual's social insurance number (SIN). For interest credited to a joint account, enter the SIN of only one of the individuals.

You have to make a reasonable effort to get the recipient's SIN. If you do not, you may be liable to a $100 penalty for each time you do not provide the SIN on a slip. However, when a person tells you that he or she does not have a SIN but is applying for one, make sure you complete and file the return before the filing deadline. If you have not received the recipient's SIN by the time you prepare the T5 slip, leave box 22 blank.

For more information on your obligation to provide a valid SIN, see Failure to provide a social insurance number (SIN) on an information return.

If the recipient is a trust, enter the trust account number.

If the recipient is a business (sole proprietor, partnership, or corporation), enter the recipient’s 15 character program account number in this area.

The program account number consists of three parts:

• the nine-digit business number (BN) identifies the business
• the two-letter program identifier identifies the type of program account
• the four-digit reference number identifies each account in a program that a business may have

Enter one of the following codes to identify the recipient to whom the investment income was paid:

"1" for an individual

"2" for a joint account (two or more individuals)

"3" for a corporation

"4" for an association, trust (RRSP trustee, fiduciary-trustee, nominee, or estate), club, or partnership

"5" for a government, government enterprise, or international organization

Enter the actual amount of eligible dividends, or the amount we deem to be eligible dividends. Eligible dividends are paid after 2005 by corporations resident in Canada to shareholders resident in Canada.

Among other requirements, to be eligible dividends, taxable dividends must have been designated as such by the corporation paying the taxable dividend.

For more information about eligible dividends, see Guide T4012, T2 Corporation – Income Tax Guide.

Do not include:

• dividends paid or payable by a credit union to a member who has a share in the credit union, if the share is not listed on a designated stock exchange (we treat these amounts as interest, see box 13)
• capital gains dividends (to report capital gains dividends, see boxes 18 and 34)
• dividends paid to individuals who are not eligible for the federal dividend tax credit (see box 14)
• dividends other than eligible dividends (see box 10)
• taxable dividends, paid by a mortgage investment corporation that are included in box 13 (Interest from Canadian sources)

Complete box 25 only for individuals resident in Canada (other than a trust that is a registered charity). Enter in box 25 the total of the amount from box 24 plus the taxable gross-up amount.

The taxable gross-up amount is equal to 38% of the amount of dividends reported in box 24 that were paid in 2012 and subsequent tax years.

Do not enter an amount in box 25 if the dividends entered in box 24 are paid to a corporation.

Complete box 26 only for individuals resident in Canada (other than a trust that is a registered charity).

For the years 2012 or later, the amount you enter is 15.0198% of the amount entered in box 25 or 6/11 of the taxable gross-up amount, accordingly.

Do not enter an amount in box 26 if the dividends entered in box 24 are paid to a corporation.

Leave this area blank if you are reporting amounts in Canadian dollars.

If you cannot report amounts in Canadian dollars, identify the foreign currency according to the International Standard Organization (ISO) standard 4217 called Codes for the Representation of Currencies and Funds.

Enter the appropriate three-character alphabetic or numeric codes if you are filing on paper.

If possible, use the alphabetic codes. For example:

AUD  –  Australia, dollar
DKK  –  Denmark, krone
EUR  –  European Union, euro
GBP  –  United Kingdom, pound
HKD  –  Hong Kong, dollar
JPY  –  Japan, yen
NZD  –  New Zealand, dollar
USD  –  United States, dollar
OTH  –  Other

When you report amounts in foreign currency, keep the following rules in mind:

• do not combine different foreign currency types on a T5 slip. Report only one type of foreign currency on each slip.
• print the name of the foreign currency on the slip (for example, U.S. DOLLARS) under boxes 15 and 16, for the recipient's benefit.
• if you file a T5 information return and leave box 27 blank, we will process the amounts on the T5 slips as Canadian dollars.
• when completing your T5 Summary, you only have to enter one total income amount, whether or not the T5 slips are made up of different currency types.

If you are reporting for a financial institution or any similar business, enter the recipient's transit code or branch identification code (up to eight characters) in this area.

If you can identify the recipient by an account number or policy number, enter the appropriate characters (up to 12) in this area.

Identify a box in the "Other information" area as box 30. In the "Amount box", enter the total interest that is deemed to accrue pursuant to subsection 20(14.2) of the Act from the assignment or transfer of linked notes.

A linked note is a debt obligation, most often issued by a financial institution, the return on which is linked in some manner to the performance of one or more underlying assets or indexes over the term of the obligation. For assignments or other transfers of debt obligations (that are at any time described in paragraph 7000(1)(d) of the Income Tax Regulations) that occur after 2016, any gain realized at the time of the transfer is deemed to be interest that accrued on the debt obligation for a period commencing before the time of the transfer and ending at the time of the transfer.  

For information on calculating the amount of this deemed interest, see subsection 20(14.2) of the Income Tax Act.

Identify a box in the "Other information" area as box 34, and in the "Amount box", enter the amount of capital gains dividends that were paid by:

• ■  an investment corporation
• ■  a mortgage investment corporation
• ■  a mutual fund corporation