Does the defer election in 8891 is by plan or once for all?

albator73 · Post by **albator73** » Mon Nov 19, 2012 7:36 pm

Hi,

I'm about to send my last 3 year taxes (2009-2011) to be compliant.
I was wondering if the defer election in 8891 is by plan (Account number) or one time for all?

I had new RRSP account in 2010, is it a new election or I use the 2009 year of my choice?

Thanks

JGCA · Post by **JGCA** » Mon Nov 19, 2012 8:25 pm

A seperate form has to be filed for each RRSP each year.

albator73 · Post by **albator73** » Mon Nov 19, 2012 9:43 pm

Hi,

I do filed a forms (8891) for each plan every year. But does the election is base on each plan? If i'm adding a new RRSP, do I have to make another election for this RRSP or specify I already did my election and write the year?

Thanks

nelsona · Post by **nelsona** » Tue Nov 20, 2012 12:25 am

You must make an election for each plan, each year. Once you meke the election, you cannot change it, but you must still report it each year.

albator73 · Post by **albator73** » Tue Nov 20, 2012 12:34 am

Thanks Nelson!