Search found 11 matches
- Wed Feb 19, 2025 3:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Looks like the bank forgot to withhold 25%
- Replies: 10
- Views: 6787
Re: Looks like the bank forgot to withhold 25%
Thank you so much for all your help! I'd be lost without you.
- Wed Feb 19, 2025 2:07 am
- Forum: Canada / United States Tax & Accounting
- Topic: Looks like the bank forgot to withhold 25%
- Replies: 10
- Views: 6787
Re: Looks like the bank forgot to withhold 25%
I found it on the CRA site as to where to send payment by mail.https://www.canada.ca/en/revenue-agency ... heque.html
- Tue Feb 18, 2025 2:15 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Looks like the bank forgot to withhold 25%
- Replies: 10
- Views: 6787
Re: Looks like the bank forgot to withhold 25%
Oh. I see the check goes to Ontario, and the tax form goes to Winnipeg. I've answered my own question, thank you.
AND...I'm done with the RRSP! Took out my last chunk this month (and they withheld the correct amount!)
AND...I'm done with the RRSP! Took out my last chunk this month (and they withheld the correct amount!)
- Tue Feb 18, 2025 2:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Looks like the bank forgot to withhold 25%
- Replies: 10
- Views: 6787
Re: Looks like the bank forgot to withhold 25%
Oh good, I'm glad I can skip the letter, thank you!
I just need to wait for my NR4 from RBC, and then can I include money order/check with my tax forms?
I just need to wait for my NR4 from RBC, and then can I include money order/check with my tax forms?
- Mon Feb 17, 2025 8:27 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Looks like the bank forgot to withhold 25%
- Replies: 10
- Views: 6787
Re: Looks like the bank forgot to withhold 25%
Yes. Every time I call them to withdraw a chunk from my RRSP, I state over the phone that the taxes should be 25% for non residents, and the agent agrees. I received the Canadian $$ cheques by mail to my US address, and deposited them in my Canadian foreign funds account at EverBank. A letter to who...
- Sun Feb 16, 2025 1:38 am
- Forum: Canada / United States Tax & Accounting
- Topic: Looks like the bank forgot to withhold 25%
- Replies: 10
- Views: 6787
Looks like the bank forgot to withhold 25%
I withdrew some RRSP money in 2024 and was excited to fill out the Canadian tax form for non-residents in order to get some of the 25% taxes returned to me. However, to my dismay, it now looks like I owe CRA a chunk of money because RBC Bank didn't do their part in withholding 25% in each of my cheq...
- Mon Jan 20, 2025 10:44 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Amending US tax form
- Replies: 3
- Views: 2952
Re: Amending US tax form
One year later. I'm in the same position, I withdrew $$ from RRSP and was automatically charged 25% CDN taxes. And, I plan to submit a CDN tax form to request more of a tax refund. Is it better to delay my US tax submission until I get an answer from Canada and submit to US all at once, rather than ...
- Fri May 03, 2024 1:05 am
- Forum: Canada / United States Tax & Accounting
- Topic: Amending US tax form
- Replies: 3
- Views: 2952
Amending US tax form
Hello, I withdrew a chunk of RRSP money in 2023, and reported it on Form 1116 in February. However 25% Canadian taxes were automatically taken when I withdrew, and so I filed a Canadian tax return for Section 217 and learned today that I will be getting some money back, effectively reducing my Canad...
- Tue Apr 04, 2023 1:05 am
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP lump sum withdrawal and OAS - NR5 necessary?
- Replies: 4
- Views: 2050
Re: RRSP lump sum withdrawal and OAS - NR5 necessary?
Thank you so much!
- Sun Apr 02, 2023 5:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP lump sum withdrawal and OAS - NR5 necessary?
- Replies: 4
- Views: 2050
Re: RRSP lump sum withdrawal and OAS - NR5 necessary?
There is about $30K Canadian dollars left in my RRSP.
And I assume QPP is the same as CPP, in regards to the rules?
I'm not sure I understand the point of the NR-5 if I have to fill out a 217 in either case...
And I assume QPP is the same as CPP, in regards to the rules?
I'm not sure I understand the point of the NR-5 if I have to fill out a 217 in either case...
- Sat Apr 01, 2023 7:44 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP lump sum withdrawal and OAS - NR5 necessary?
- Replies: 4
- Views: 2050
RRSP lump sum withdrawal and OAS - NR5 necessary?
Hello, This year (2023) I took out half of my RRSP and since I'm low income, I'd like to request a reduction to the 25% withholding fee that was taken. I am filling out the NR5 for 2023, and 2024 other half, and future OAS and QPP distributions. But is the NR5 necessary? I guess I'm wondering if onl...