T5 Slip Canada 2026

Ever checked your mailbox in late February and found a slip from your bank that looks vaguely important but also completely confusing? That's your T5 slip, and no, you can't just toss it in the recycling with the flyers. If you've got money sitting in a savings account earning interest, own dividend-paying stocks, or have any investments outside your RRSP or TFSA, you're going to see one of these bad boys. The good news? It's actually way less complicated than it looks once you know what you're dealing with.

What Exactly Is a T5 Slip?

Think of your T5 slip as the financial equivalent of a T4 slip, but for your investments instead of your job. While your employer sends you a T4 showing your employment income, your bank or investment broker sends you a T5 showing what your money earned while sitting in non-registered accounts. We're talking interest from savings accounts and GICs, dividends from Canadian stocks, royalties, annuity payments — basically any investment income that isn't sheltered in an RRSP, TFSA, or other registered account.

Here's the kicker: financial institutions are only required to issue T5 slips if you earned $50 or more in investment income. But — and this is important, eh — you still need to report that income on your tax return even if you don't get a slip. Made $47 in interest? Still taxable. The CRA doesn't care that your bank didn't bother with the paperwork.

Types of Investment Income Reported on T5 Slips

Not all investment income shows up on your T5. Capital gains from selling stocks? That's for a different form (T5008). But here's what does appear on your T5 slip:

Decoding the Boxes on Your T5 Slip

Your T5 slip looks like a grid of numbered boxes with dollar amounts scattered throughout. Here's what the most common boxes mean and where those numbers go on your tax return:

• Box 13 - Interest income: Total interest earned from savings accounts, GICs, bonds. This amount goes on line 12010 of your tax return and is fully taxable.
• Box 10 - Actual dividends (non-eligible): The actual dollar amount of non-eligible dividends you received from Canadian corporations. This gets grossed up for tax purposes.
• Box 11 - Taxable dividends (non-eligible): The grossed-up amount (actual dividends × 1.15) that you report on line 12000 of your return.
• Box 12 - Dividend tax credit (non-eligible): Federal tax credit for non-eligible dividends, claimed on line 40425 to reduce your taxes owing.
• Box 24 - Actual dividends (eligible): Actual eligible dividends received. These get a bigger tax break than non-eligible dividends.
• Box 25 - Taxable dividends (eligible): Grossed-up amount (actual dividends × 1.38) reported on line 12000.
• Box 26 - Dividend tax credit (eligible): Federal tax credit for eligible dividends, providing a more generous credit than box 12.
• Box 15 - Foreign income: Investment income from foreign sources in Canadian dollars. Report this on line 12000.
• Box 16 - Foreign tax paid: Amount of tax withheld by foreign governments. Use this to claim a foreign tax credit and avoid double taxation.

If you're a Quebec resident, you'll also receive a Relevé 3 (RL-3) slip, which is Quebec's provincial equivalent. Both slips report the same income but need to be entered separately — T5 for your federal return, RL-3 for your Quebec provincial return.

When You'll Receive Your T5 Slip

Financial institutions must send out T5 slips by the last day of February following the tax year. So for your 2025 tax year (which you file in 2026), you should have all your T5 slips by February 28, 2026. This gives you two months to get them entered before the April 30 filing deadline.

Most banks and investment platforms now offer digital delivery through their online portals, which means you can access your T5s even sooner — sometimes as early as mid-February. You can also view T5 slips through CRA My Account under "Tax information slips (T4 and more)" once they've been filed with the CRA.

If February ends and you're still waiting for a T5 you expected to receive, contact the financial institution directly. Sometimes slips get lost in the mail, or they're delayed if there were amendments or corrections needed. Don't wait until the last minute to sort this out — tracking down missing tax slips on April 29 is nobody's idea of a good time.

Joint Accounts and Multiple Recipients

Got a joint savings account with your spouse? Here's where things get slightly more complicated (but manageable). The financial institution typically issues one T5 slip with both names listed, but each person needs to report their proportional share of the income based on who actually contributed the money to the account.

If you and your partner each put in 50%, you each report half the income. If one person contributed 70% and the other 30%, split it accordingly. The CRA expects you to track this honestly — and if you're both in similar tax brackets, splitting 50/50 is usually the simplest approach and least likely to raise questions.

What If You Don't Receive a T5 Slip?

Remember that $50 threshold? If your investment income was under fifty bucks, the institution doesn't have to issue a slip. But here's the thing — you still need to report that income. Keep your own records of interest earned and dividends received throughout the year. Your online banking statements usually show this information, and you can use those to accurately report the income on your return.

If you earned more than $50 and didn't receive a T5, first check your online account portal and CRA My Account. If it's genuinely missing, contact the issuer immediately. If you can't get a replacement before the filing deadline, report the income using your own records and include a note explaining the situation. The CRA would rather you report the income accurately than skip it because you didn't receive the official slip.