Managing finances across two countries presents unique challenges, particularly when tax season arrives. For U.S. citizens in Canada, Canadian residents with U.S. income, and anyone else navigating both tax systems, knowing the key deadlines is the first step toward a compliant and stress-free year. Missing a due date can result in significant penalties and interest, adding unnecessary complications to your financial life.
This guide provides a clear overview of the essential 2025 tax filing and payment deadlines for individual filers in the United States and Canada. By understanding these dates, you can prepare effectively, file on time, and maintain good standing with both the Internal Revenue Service (IRS) and the Canada Revenue Agency (CRA). We will cover standard deadlines, extensions for those living abroad, and crucial dates for reporting foreign assets.
Key US Tax Deadlines for 2025
The IRS establishes several important dates that individuals, especially those with cross-border ties, should mark on their calendars. Adhering to these deadlines is essential for avoiding penalties.
Tuesday, April 15, 2025: Main Tax Deadline
For most individual taxpayers in the United States, April 15 is the primary deadline to file their federal income tax return (Form 1040) and pay any tax owed. This date applies to U.S. residents and citizens living within the country. It is also the deadline for most state tax returns, though you should always verify the specific due date for any state where you have a filing obligation.
Even if you live abroad, April 15 remains a critical date. While you may qualify for an extension to file, it is not an extension to pay. To avoid interest and penalties, you must estimate and pay any taxes owed by this date.
Monday, June 16, 2025: Automatic Extension for Expats
U.S. citizens and resident aliens living and working outside the U.S. and Puerto Rico receive an automatic two-month extension to file their federal tax return. For the 2024 tax year, this moves their filing deadline to June 16, 2025 (since June 15 falls on a Sunday).
To qualify, your primary place of business or post of duty must be outside the U.S. This is an extension to file, not to pay. The IRS will charge interest on any tax not paid by the original April 15, 2025, due date.
Wednesday, October 15, 2025: The Final Extension Deadline
If you require more time beyond the April or June deadlines, you can request an additional extension by filing Form 4868. This form must be submitted by your original due date (April 15 or June 16 for expats). This pushes your final filing deadline to October 15, 2025.
This extension provides more time to gather your documents and file an accurate return, but it does not postpone your payment deadline. You must provide a reasonable estimate of your tax liability on Form 4868 and pay any amount due by April 15 to avoid penalties and interest.
US Foreign Asset Reporting Deadlines
U.S. filers with financial interests abroad must comply with specific reporting requirements to maintain transparency and avoid steep penalties.
- FinCEN Form 114 (FBAR): If the total value of your foreign financial accounts exceeded $10,000 at any point during the year, you must file a Report of Foreign Bank and Financial Accounts (FBAR). While the official due date is April 15, 2025, an automatic extension to October 15, 2025, is granted to all filers.
- Form 8938: If you hold specified foreign financial assets exceeding certain thresholds, you must file Form 8938, Statement of Specified Foreign Financial Assets, with your tax return. The due date for this form is the same as your income tax return, including any extensions (June 16 or October 15).
Key Canadian Tax Deadlines for 2025
The Canada Revenue Agency (CRA) has its own set of deadlines that are critical for anyone filing taxes in Canada.
Wednesday, April 30, 2025: Main Filing and Payment Deadline
For most individual Canadian taxpayers, the deadline to file their annual income tax and benefit return is April 30. This is also the deadline to pay any tax balance owing for the year. If you file late and have a balance due, the CRA will charge a late-filing penalty plus daily compound interest.
Filing on time is important even if you do not owe any tax, as it ensures you receive benefits and credits like the GST/HST credit and the Canada Child Benefit (CCB) without interruption.
Monday, June 16, 2025: Deadline for Self-Employed Individuals
If you or your spouse or common-law partner are self-employed, the CRA provides an extended deadline to file your tax return: June 15. Since this date is a Sunday in 2025, the deadline moves to the next business day, June 16, 2025. This extension accommodates the additional complexity of reporting business income and expenses.
However, this is only an extension to file. If you have a tax balance owing, your payment is still due by April 30, 2025. Failing to pay by this date will result in interest charges on the outstanding amount starting from May 1.
Canadian Foreign Property Reporting (Form T1135)
See also: Canadian Rental Income Tax Rules for Non-Residents
If you are a Canadian resident and the total cost of your specified foreign property exceeded CAD $100,000 at any time during the year, you must file Form T1135, Foreign Income Verification Statement. This includes assets like U.S. stocks held in U.S. brokerage accounts, U.S. rental properties, and funds in foreign bank accounts.
The filing deadline for Form T1135 is the same as your income tax return deadline—April 30, 2025, for most individuals or June 16, 2025, for the self-employed.
Your Partner in Cross-Border Tax Compliance
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Navigating the web of US and Canadian tax deadlines can feel overwhelming, but you do not have to manage it alone. The complexities of foreign asset reporting, coordinating tax payments, and ensuring compliance with both the IRS and the CRA often require professional guidance. A cross-border tax specialist provides the expertise needed for effective financial planning.
From optimizing your tax position with foreign tax credits to ensuring all foreign investments are reported correctly, a dedicated advisor is an invaluable asset. If you have questions about your obligations or need assistance with your tax filings, we are here to help you manage your cross-border tax affairs with confidence and accuracy.
Need Help from a Cross-Border Tax Preparer or IRS Taxpayer Assistance Center in Toronto or Oakville, Ontario?
Karlene J. Mulraine, EA, CPA, CA, CPA (NH) is the President of Cross-Border Financial Professional Corporation. Follow us on LinkedIn and Twitter, or hang out on Facebook.
The views expressed in this article are those of the author and should not be relied on to make decisions. Consider discussing your specific circumstances with an appropriate specialist.