T2062 Certificate of Compliance processing time?

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
bob987
Posts: 2
Joined: Mon Feb 21, 2022 3:04 pm

T2062 Certificate of Compliance processing time?

Post by bob987 »

Does anyone have any recent experience with the CRA's processing time for a T2062 certificate of compliance for the sale of a house by a non-resident? I filed in late September 2021 and it has not been processed yet, after 5 months. I did receive a "Comfort Letter" about a week after submission, confirming receipt of the application and permitting the withheld funds to be held in trust by our attorneys indefinitely, pending the CRA review. So I have no indication that there is anything wrong other than the fact that 5 months have passed. Does anyone have experience that would indicate whether 5 months is normal; perhaps slow due to COVID? Appreciate any input.
nelsona
Posts: 17801
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: T2062 Certificate of Compliance processing time?

Post by nelsona »

well, now would the time to actaully file your 2021 tax return, using whatever you paid as a credit towards taxes owed (if any). No need to wait for certificate at this point.

You met the requirements of a non-resident seller.

I will say that even a simple "non-return" submission is taking at least twice as long as it was even 5 months ago.
nelsona non grata. Non pro. Search previous posts. Happy Browsing :D
bob987
Posts: 2
Joined: Mon Feb 21, 2022 3:04 pm

Re: T2062 Certificate of Compliance processing time?

Post by bob987 »

Thanks nelsona for the comment.

The withheld funds didn't go to the CRA: they are in my attorney's trust account, pending issuance of the certificate. The expectation is that 100% of the funds will be released directly to me, because the property in question qualified for a full personal residence exemption on capital gains. So the CRA should never see any of these funds. Even if I filed my tax return today, I don't think that would necessarily trigger the CRA to instruct my attorney to release the withheld funds.

I'm wondering if I should get my attorney to send the money to the CRA, because at least then I could do as you suggest, and file my tax return to hopefully trigger a refund. But that has potential to cause confusion, with no guarantee that I'd get my funds sooner than if I just wait for the CRA to finish processing the T2062.

Still hoping someone may chime in with info about recent T2062 processing times, to help gauge whether my particular case is normal or not.
nelsona
Posts: 17801
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: T2062 Certificate of Compliance processing time?

Post by nelsona »

I would NOT have the money sent to CRA, if it is not required. (You think the certificate is taking a long time, imagine getting your money back AFTERWARDS! You can always call the office that handles these.
The proceeds are supposed to go from the buyer to you.

File your taxes, and this will provide the ONLY proof you need that you owe not taxes. The certificate doesn't replace the tax return, particularly for principal residence exemption.
nelsona non grata. Non pro. Search previous posts. Happy Browsing :D
hyacinthyaffe5
Posts: 2
Joined: Thu Jun 23, 2022 3:53 pm

Re: T2062 Certificate of Compliance processing time?

Post by hyacinthyaffe5 »

I have always received approval within the promised time frame! The normal processing time for a CRA is 4 to 6 weeks. It may take longer if the CRA does not have all your tax invoices from your employers and other income certificates. Feel free to consult with different attorneys! But of all the lawyers, I know only [url=https://bsmlaw.com.au/drink-driving-law ... ollongong/] bsmlaw.com.au [/url] ! They solve DUI cases! The attorney's status should be marked as "active ."If a citizen is not included in the regional register of lawyers or has another status, they cannot practice as a lawyer. The status of a lawyer is valid throughout the country. A lawyer must be registered with a bar association, bureau, office, or legal consultation.
hyacinthyaffe5
Posts: 2
Joined: Thu Jun 23, 2022 3:53 pm

Re: T2062 Certificate of Compliance processing time?

Post by hyacinthyaffe5 »

I have always received approval within the promised time frame! The normal processing time for a CRA is 4 to 6 weeks. It may take longer if the CRA does not have all your tax invoices from your employers and other income certificates. Feel free to consult with different attorneys! But of all the lawyers, I know only https://bsmlaw.com.au/drink-driving-law ... ollongong/ ! They solve DUI cases! The attorney's status should be marked as "active ."If a citizen is not included in the regional register of lawyers or has another status, they cannot practice as a lawyer. The status of a lawyer is valid throughout the country. A lawyer must be registered with a bar association, bureau, office, or legal consultation.
MariaKarishma
Posts: 1
Joined: Wed Sep 14, 2022 4:12 am

Re: T2062 Certificate of Compliance processing time?

Post by MariaKarishma »

Can't believe with an old information, an old topic, but the way you exploit and look at the problem can be so good. I was very impressed with this article, hope in the future you can share about https://basketball-stars.io with your own perspective
emmanuel_cv
Posts: 1
Joined: Fri Nov 04, 2022 3:40 am

Re: T2062 Certificate of Compliance processing time?

Post by emmanuel_cv »

Old post but hoping to hear from OP bob987 if you finally received a reply from CRA and how long it took?

I submitted exactly the same as you in February 2022 and am now over 8 months with no reply yet. Hoping to hear soon but wondering if you might share your feedback.
Thanks!
Post Reply