T5 Slip
Feuillet T5 in French
Quick definition
The T5, Statement of Investment Income, is the slip banks, credit unions and corporations issue when they pay you more than $50 of interest, dividends or certain foreign income in a calendar year. You use it to report that income on your return.
What the T5 covers
A T5 reports investment income paid directly to you: savings account and GIC interest, dividends from Canadian corporations, and some foreign income. Income that flows through a trust, which includes most mutual funds and ETFs, comes on a T3 slip instead, and it arrives later. Each issuer sends its own T5, so three banks means up to three slips, and the CRA receives a copy of every one.
The boxes that matter
A few boxes carry almost all the weight. Box 13 is interest. Boxes 24 and 25 cover eligible dividends: box 24 is the actual amount you received and box 25 is the grossed-up amount you must report, with the dividend tax credit then clawing the difference back. Boxes 10 and 11 do the same job for non-eligible dividends, which carry a smaller gross-up and credit; see eligible vs. non-eligible dividends for why the two exist. Boxes 15 and 16 report foreign income and the foreign tax already withheld from it.
| Box | What it reports |
|---|---|
| 13 | Interest from Canadian sources |
| 24 / 25 | Eligible dividends: actual / taxable (grossed-up) amount |
| 10 / 11 | Non-eligible dividends: actual / taxable amount |
| 15 / 16 | Foreign income / foreign tax withheld |
No slip does not mean no tax
Under $50 (as of July 2026), an issuer does not have to send a T5, but the income is still taxable and you must report it anyway. This is a common trap for savers with high-interest accounts spread across several banks: four accounts each paying $45 generate zero slips and $180 of taxable interest. Check your statements, not just your mailbox.
GICs: taxed as the interest accrues
A multi-year GIC that pays everything at maturity does not wait for tax purposes: the interest must be reported annually as it accrues, and issuers send a T5 each year for that accrued amount. Expect a slip, and a tax bill, for years in which you received no cash.
In Canada
Issuers must mail T5 slips by the last day of February following the tax year. Québec residents receive a Relevé 3 alongside the T5 for the provincial return. If a slip goes missing, the amounts are usually visible in CRA My Account within days of issuance, and filing from your own records is always acceptable: the obligation is to report the income, not to possess the paper.
Worked example
Dana keeps emergency savings at three banks, earning $48, $45 and $52 of interest. Only the third bank sends a T5, showing $52 in box 13. Dana must still report all $145. She also holds a 3-year GIC paying $900 at maturity: each year a T5 arrives for roughly $300 of accrued interest, taxed annually even though the cash only shows up at the end.
Related terms
Reviewed by Alexandre Bernier, CFP®, CIM®, PFP®·Updated July 2026