Form to declare Roth

aniagara · Post by **aniagara** » Sat Feb 12, 2011 7:19 pm

I read on here that Roth's have to be declared by end April this year in Canada. I can't find info on it now.

Wondering what form to use -

Many thanks

nelsona · Post by **nelsona** » Sat Feb 12, 2011 7:24 pm

Its not a form, its a satement you must produce:

http://www.cra-arc.gc.ca/E/pub/tp/itnew ... s-43-e.pdf

aniagara · Post by **aniagara** » Sat Feb 12, 2011 7:33 pm

Many thanks - I think someone had thought they would add it to form T1135.

Inwardly groaning - the more I send in, it's just one more thing for CRA/IRS to screw up (2/4 years the IRS has cashed my check, then sent me a letter in the summer telling me I never paid. - and that's been the mildest thing)

Well, it's a beastly system and it works in general so not going to complain further!

Many thanks, again - will do this

nelsona · Post by **nelsona** » Sat Feb 12, 2011 8:39 pm

T1135 is not enough.
In fact, US retirement accounts are specifically NOT to be reported on T1135.

cfn2007 · Post by **cfn2007** » Sun Feb 20, 2011 12:47 pm

I notice that the CRA Technical News explanation says that these new rules are subject to DRAFT legislation released August 27, 2010. Any word on whether this has been finalized? Do you think it's safe to start filing our elections/statements? Thanks.

AMRivlin · Post by **AMRivlin** » Mon Feb 21, 2011 7:32 pm

If I am contributing my annual $5000 to my Roth IRA in USA (Fidelity in this case) that should not be seen as income, as the $5000 is my money in savings, that I am paying.

I am not taking any dispersments/withdrawals from my IRA during this time.

nelsona · Post by **nelsona** » Fri Feb 25, 2011 11:16 am

The legislation may be dradt, but the treaty is law, and this will have to be adopted.