T5 slip in Canada: interest, dividends and where they go

What is a T5 slip in Canada?

The T5 slip meaning is simple: it is the Statement of Investment Income. A Canadian bank, credit union, broker or corporation issues one when it paid or credited you interest, dividends, royalties or certain other investment income in a non-registered account during the calendar year. Money earned inside an RRSP, TFSA or FHSA does not appear on a T5.

Issuers must get T5 slips to you by the last day of February following the year, so slips for 2026 income arrive by the end of February 2027. The CRA's guidance for issuers allows T5 slips to be made available on a secure online portal, while email delivery needs your written consent, so check your bank's document centre before assuming a slip is missing.

Main T5 slip boxes

Most people only see two or three filled boxes. The table covers the boxes that carry amounts onto the return.

T5 slip box 13: interest from Canadian sources

Box 13 holds interest from bank accounts, GICs, term deposits and bonds. It goes on line 12100 along with box 14 (other income from Canadian sources) and box 15 (foreign income). Example: a $12,000 GIC paying 4% a year credits $480 of interest, and that $480 shows in box 13.

T5 slip box 25: the taxable amount of eligible dividends

Dividends come in two sets of three boxes. Box 24 is the actual eligible dividend you received, box 25 is the grossed-up taxable amount, and box 26 is the dividend tax credit. You report box 25, not box 24, on line 12000. The larger taxable figure looks odd, but the dividend tax credit from box 26 offsets it. Boxes 10, 11 and 12 work the same way for dividends other than eligible dividends: report box 11 on lines 12010 and 12000.

Box 18 capital gains dividends go on Schedule 3 at line 17400, not on line 12000. Box 16 foreign tax paid is used for the foreign tax credit rather than subtracted from income.

Joint accounts: who reports the T5

Banks usually print a joint account's T5 in both names, or in one name, based on how the account is set up. That label does not decide who pays the tax. The CRA says each person reports a share of the interest that matches how much they contributed to the account.

1. Work out who put the money in. If one spouse deposited all $20,000, that spouse reports all the interest, even if the slip shows both names.
2. If both contributed, split the interest in the same proportion as the deposits, for example 60/40.
3. Each person enters only their share on line 12100.
4. Keep deposit records so you can explain the split if the CRA sends a review letter.

Interest without a slip

Issuers do not have to send a T5 when your total investment income from them is under $50. The income is still taxable, and the CRA expects it on line 12100. Add up small amounts from your year-end statements, such as $18 on a chequing account and $27 on a savings account.

Compound GICs and other investments that pay out at maturity work differently. You report the interest earned in each full investment year, even though no cash reached you and no slip arrived. A 3-year compound GIC bought in June 2025 means reporting the first year's growth on your 2026 return.

Foreign bank interest also belongs on line 12100, converted to Canadian dollars at the Bank of Canada rate for the day it arose.

Where T5 amounts go on your return

Certified tax software has a T5 entry screen that mirrors the slip. Type each box as printed and the software routes the figures. If you file on paper, use the Federal Worksheet for line 12100 and the table above.

If a T5 is late, request a copy through your CRA account or from the issuer, as described on our missing tax slip page. For other slips arriving in the same season, see the tax slips guide, the T4E slip for EI benefits and the T2202 tuition certificate.

How to file T5 slips and the T5 Summary

If you are the one issuing T5 slips, for example a small corporation that paid dividends to its shareholder, you send the CRA an information return made up of the T5 slips and a T5 Summary that totals them. The CRA's issuer rules set these deadlines and exceptions:

• Give each recipient their T5 by the last day of February after the calendar year; 2026 slips are due by the end of February 2027. If the business or activity ends, the deadline is 30 days after it ends.
• File the slips and the T5 Summary with the CRA by the same date.
• If you file over the Internet, do not also mail paper copies to the CRA.
• You do not need a slip for a recipient whose total for the year is less than $50, and investment income paid to non-residents is not reported on a T5.
• Sending a slip by email needs the recipient's written consent.