By Kenneth Keung ( February 1, 2021, 12:36 PM EST) -- Canadians who own interests in a “foreign affiliate” are required by s. 233.4 of the Income Tax Act (the Act) to annually file T1134 forms, unless a de minimis administrative exception is met. Generally speaking, a foreign affiliate is a non-resident corporation in which the Canadian, along with related persons, owns 10 per cent or more....