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DocumentationHow to?Address StudioTax Error MessagesT5 Exchange Rate Error

Error Message

You may see the following error when filing or reviewing your return:

Box 27 is set to a foreign currency and the exchange rate box is not filled. Affected T slips: T5(1), T5(27)…

This means one or more T5 slips have a foreign currency set in Box 27 but are missing the exchange rate. To navigate to the affected slips, see T-slip Sections.

Understanding Currency in T5

How you fill in the T5 depends on the currency of your amounts:

  • If your amounts are in Canadian dollars (CAD): No exchange rate is needed. Enter the values as-is and leave the exchange rate fields empty.
  • If your amounts are in a foreign currency (e.g., USD): Enter the Foreign Currency Symbol (Box 27) and the Exchange Rate (Box 27-1). The software will use these to calculate the converted amount in the Total column automatically.

Here is a screenshot that can help:

T5 with exchange rate entered

You can find official annual average exchange rates on the Bank of Canada website .

Batch Editing T5s on Windows

If you are on Windows and have many T5 slips to enter, you can switch to the batch edit view for a more efficient layout:

T5 batch edit view on Windows
T5008 Exchange Rate ErrorT-Slip Foreign Income Error