[Verse 1]
When you're Canadian but own across the border
Foreign affiliates need proper order
LLC or C-corp in your control
T1134 helps you stay on the roll
Financial details, income and expense
Surplus balances make the difference
[Chorus]
T1134, don't let it slide
Ten months after year-end is your guide
October thirty-first for calendar close
Twenty-five a day when the penalty grows
From one hundred minimum to twenty-five hundred max
Foreign affiliate information, get your facts
[Verse 2]
Not just bank statements, you need much more
Proper financial statements from shore to shore
Each foreign entity requires its own return
Surplus calculations, there's much to learn
Income, expenses, transactions too
With Canadian residents, they're watching you
[Chorus]
T1134, don't let it slide
Ten months after year-end is your guide
October thirty-first for calendar close
Twenty-five a day when the penalty grows
From one hundred minimum to twenty-five hundred max
Foreign affiliate information, get your facts
[Bridge]
But if you knowingly fail to file
Five hundred monthly for quite a while
Twelve thousand yearly per affiliate
CRA extends reassessment date
First year resident, timeline may shift
Don't let compliance be your drift
[Chorus]
T1134, don't let it slide
Ten months after year-end is your guide
October thirty-first for calendar close
Twenty-five a day when the penalty grows
From one hundred minimum to twenty-five hundred max
Foreign affiliate information, get your facts
[Outro]
Canadian resident with foreign control
T1134 keeps you on a roll
Financial transparency across the line
File on time and you'll be fine