I am a USC in Canada. I had two separate RESP accounts which I have merged into a new account. I treat these as trusts, so I'm completing my 3520 and 3520-A forms.
On the 3520 for the new account, I am indicating a gratuitous transfer on the day the funds entered this account. This resulted in zeroing the old accounts. I have not called these distributions on the two old accounts, but simply said these now have value of $0.
Is this the right way to do this? I have not withdrawn any funds, so there would seem to be no distribution. I just wonder if it will look odd.
Thanks in advance!
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