RRSP/DCPP share from divorce. (PS Nelson)

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Me2
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Joined: Sun Jun 02, 2019 7:17 pm

RRSP/DCPP share from divorce. (PS Nelson)

Post by Me2 » Fri Aug 02, 2019 2:46 pm

Perhaps I am sol but … I received 50% of his (Ontario) Employee group DCPP having 25% withholding, as a direct rollover to my new Lira then unlocked (non-resident) to my RRSP in order to cash out as these pension splits is my only income. Next is the Employee group RRSP.


I have the amounts when we moved in 1999 (March) and beyond due to declaration to the IRS. Though these accounts remained in the “group” with no contributions made by him nor employer, the DCPP alone grew from $90K to over $270K.

I have collected my share of the DCPP But I have a feeling there is no magic I can perform other than the whole amount I received is income. Period. And the 25% withholding.
This would also be for the RRSP that has not been collected yet, ( value unknown) that was mutual funds.
Also, I collected my share of his personal (non Ontario) personal mutual fund RRSP, shelling out the 25%.

Though I also have the statements from inception with these plans (that shows employer contributions too) I doubt if it matters much because my transferred entitlement were of lump sums only. Which would be the start of my own basis, correct?

PS. Nelson. Are you the same as Nelson from canadatotwincities and Grasmicks? If so, YOU were detrimental in our move. Following your knowledge on the forums, we went from temporary work visa to permanent residents in one year!! Thank you!!!

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