Hello,
Here's my situation : While being a US resident, I made contributions and transfers to RRSP plan on a couple different years and also on one year, one RRSP got cashed out.
I'm trying to declare/repair all that by making 1040x's and the election under 2002-23. While reading the RP 2002-23, it seems contribution are "no-worries" but it's not clear. Can someone shed some light ?
What about the "cashed out" one ? How should it be handled ?
Do these transfers require form 3520 to be filed :
1) From RRSP (GCI type) to RRSP (Mutual Fund type) ?
2) From Employer pension plan to RRSP ?
The 1040-Sched.B part III ask 2 questions. For those of us who own RRSP, the first one is "Yes-Canada". But what about the second one ? On the years I made contribution, transfer or cashed out, Should I answer "Yes" ?
Do I have to file the 3520 form in any of those cases ?
That form is pretty heavy (any hint would be appreciated !)
(I know it's a mess...)
Help is Very Much appreciated !
RRSP under 2002-23 vs From 3520
Moderator: Mark T Serbinski CA CPA