RRSP question

[darockwilder]

I was doing our taxes today and somehow came across an RRSP contribution receipt from 2016 that I realize I never submitted at the time. What is the best way to submit it retroactively as an "unused contribution"? Would I have to submit an amendment to not only that year but every year since because the unused contribution amount would be the same every year (but was zero as originally filed). Any help is appreciated.

[Calgary14]

https://www.canada.ca/en/revenue-age...ributions.html

[Locke]

Originally Posted by darockwilder

I was doing our taxes today and somehow came across an RRSP contribution receipt from 2016 that I realize I never submitted at the time. What is the best way to submit it retroactively as an "unused contribution"? Would I have to submit an amendment to not only that year but every year since because the unused contribution amount would be the same every year (but was zero as originally filed). Any help is appreciated.

Was it a 'Remainder of Year' or 'First 60 Days' receipt?

[darockwilder]

Originally Posted by Locke

Was it a 'Remainder of Year' or 'First 60 Days' receipt?

First 60 days... of 2016

[Locke]

Originally Posted by darockwilder

First 60 days... of 2016

Thats fine. Just adjust the return.

The only issue you have to watch out for with these things is being deemed 'guilty' of what CRA considers 'retroactive tax planning.'

It doesnt sound like that'll be a problem for you in this case, so just adjust it and call it a day.

[darockwilder]

Originally Posted by Locke

Thats fine. Just adjust the return.

The only issue you have to watch out for with these things is being deemed 'guilty' of what CRA considers 'retroactive tax planning.'

It doesnt sound like that'll be a problem for you in this case, so just adjust it and call it a day.

Do you mean adjust the 2015 return?

[Locke]

Originally Posted by darockwilder

Do you mean adjust the 2015 return?

Ideally, yeah.

[darockwilder]

Originally Posted by Locke

Ideally, yeah.

Ok, I had an old computer on for a different reason that actually has that return on it (I used StudioTax). Thought I could use ReFILE but it's too old of a return. I think I can do it all in My Account by modifying forms.

[Locke]

Originally Posted by darockwilder

Ok, I had an old computer on for a different reason that actually has that return on it (I used StudioTax). Thought I could use ReFILE but it's too old of a return. I think I can do it all in My Account by modifying forms.

You might be able to do that, I havent amended a 2016 return in a while.

ReFile only works back to 2017 I think? Whenever they upgraded their system the last time.

Otherwise you'll be lickin' stamps!

[cSpooge]

Originally Posted by Locke

You might be able to do that, I havent amended a 2016 return in a while.

ReFile only works back to 2017 I think? Whenever they upgraded their system the last time.

Otherwise you'll be lickin' stamps!

They can submit the T1-ADJ/letter through Submit Documents in My Account but they won't be able to use Change My Return since technically it is a taxpayer relief request to adjust the return since it's more than 3 years ago.

[Locke]

Originally Posted by cSpooge

They can submit the T1-ADJ/letter through Submit Documents in My Account but they won't be able to use Change My Return since technically it is a taxpayer relief request to adjust the return since it's more than 3 years ago.

Thats some solid CRA efficiency.