TDF 90-22.1 & RRSPs

HarveyC · Post by **HarveyC** » Sun May 20, 2007 12:39 pm

I have a small RRSP acct (<10K) with my wife as beneficiary. My wife has several RRSP accts totalling over 10K with me as beneficiary. So, do we have "financial interest" in each others RRSPs for 90-22.1 purposes? In other words, do I not file a 90-22.1 because my total RRSP balances are under 10K, or do I file due to some "financial interest" in my wife's RRSP's as I'm the named beneficiary and will have to list her accounts in my 90-22.1 filing?

nelsona · Post by **nelsona** » Mon May 21, 2007 8:06 am

The 'beneficiary' (ie. the one who gets it when the owner dies) is not a factor for TD form. Otherwise you might as well stat listing the accounts of granny and old Uncle Louie.

So, if your RRSPs were less than 10K throughout 2006 and you have no other foreign bank or investment account, you don't need to file a TD form.

Your wife needs to report her accounts; all of them.