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RRSP slips


#1

Anybody else with clients still awaiting RRSP 2017 - 2018 contribution slips?
seems to me, these slips are being issued later and later every year. We are already mid-April and from the issuers’ statement: " We are in the process of mailing them …"
I thought they had to be issued by March 15th at the latest.


#2

I have found that the slips are very late arriving to the taxpayer this year but they have already been submitted to CRA as they appear when downloading information through AFR.


#3

that’s the issue - they are not available on AFR either. After some arm twisting … the investment company faxed me the documents just now.


#4

It seems to me that I read somewhere the banks have a sweat deal with the CRA and the RRSP receipts are not due until the beginning of May!


#5

That’s been causing us some grief too. I have recollection that AFR was pretty reliable last year, but I have yet to see any - at all - come through AFR this year.


#6

I’ve had lots of 2017 RRSPs dowload and a few 60 days in 2018 dowload.


#7

My experience this year has been VERY few 2017 RRSP’s via AFMR, but several 2018’s (without the 2017’s)?

Very strange…


#8

This has been my experience over the years re RRSP slips.

RRSP Slips re Regular Contributions
Pre-authorized RRSP contributions through employers, investment advisors, and other regular and periodic contributions (mostly monthly) usually appear sometime in March or April. Occasionally not until May.

RRSP Slips re one time contributions.

Bank and other A Tier slips often don’t appear at CRA as assessed until mid to late May.

B Tier slips may not appear at CRA as assessed until June, July, and sometimes never.

This is generally not a problem for my repeat clients since I provide them with both a tax slips organizer and three reminders that I MUST have ALL slips on hand to be able file that claim.

For new clients this is some version of torture or that hot place.

They find it hard to understand why we don’t have the information on file through CRA.

When it comes to tax preparers vs the Banks, I guess the Banks win. I don’t see penalties being issued for late filing any time soon.