Search found 11 matches

by Cutesy
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.
by Cutesy
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
by Cutesy
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!)
by Cutesy
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?
by Cutesy
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...
by Cutesy
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...
by Cutesy
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 ...
by Cutesy
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...
by Cutesy
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...
by Cutesy
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...