transaction dates when filling 8891?

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hyperbling
Posts: 24
Joined: Thu Jan 27, 2011 6:02 pm

transaction dates when filling 8891?

Post by hyperbling »

i fully collapsed my RRSP. i put in the request back in dec 2011, but because my broker took waaaaay too long, the money didn't get transferred over until jan 2012. the form 8891 asks for the value of the RRSP at end of year, so does that mean i will need to defer for 2011, and report the distribution for 2012, in 2013? or can i report the distribution as if it was 2011 since the dates are so close?

thanks.
nelsona
Posts: 18680
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

It depends on the transaction date, which should be known to you by now.

If it is in 2011, you will be issued an NR4 for the withdrawal and 25% tax you paid.

If it happenen in 2012, then it is as if nothing happened in 2011. You report the entire value as of dec 31.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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