Private Letter Rulings use on Excluding RRSP holdings

tsanaha · Post by **tsanaha** » Thu Jul 14, 2011 12:59 pm

by law, they should keep records up to 7 years. so you should ask them. i used to keep all of them, but after 2010 moving to another state, i lost all so i had to pay TD/Scotia Bank for statements. anyway, Canadian law requires them to keep records up to 7 years.

you need these records in case you make transfer between accounts.. so they won't be counted twice for the same found on FBAR penalty.

calgary-alberta · Post by **calgary-alberta** » Thu Jul 14, 2011 4:19 pm

thanks tsanaha. they told me they keep record for 7 years but somehow they could not find my old records. I did not have transactions of account. it is mutual fund and have capital loss. did you say your bank can write you a statement about they only keep record for 7 years. Maybe I can ask my bank to write a statement that they can only retrieve three year records.

tsanaha · Post by **tsanaha** » Thu Jul 14, 2011 6:42 pm

yes, they should provide their reason for not able to produce records. i asked TD for a written statement of the fact and they did. for your case, they should do the same.

you should just tell them you need it for your ovdi, and they should try their best to help you.