In this episode of Canadian Investing in the US, Glen Sutherland sits down with returning guest Tim Miron, a CPA specializing in cross-border taxation, to uncover two commonly overlooked filing requirements for Canadians investing in U.S. real estate. They break down the importance of filing the T1134 and T1135 forms—often referred to as “Big Brother forms”—which are required to disclose foreign entities and assets to the Canada Revenue Agency (CRA). While these forms don’t typically result in additional taxes, failing to file them can lead to significant penalties, making awareness critical for investors operating across borders. The conversation highlights how easily investors can fall into non-compliance, especially when setting up U.S. entities, holding foreign bank accounts, or crossing the $100,000 threshold in foreign investments. Tim explains how the CRA’s Voluntary Disclosure Program can help investors correct past mistakes and potentially avoid penalties if they act before being contacted by the government. The episode emphasizes the value of working with experienced professionals to ensure compliance, avoid costly errors, and properly structure cross-border investments from the start.