NR301 for RIF payments
Moderator: Mark T Serbinski CA CPA
NR301 for RIF payments
We are US-residents. My spouse withdraw less than 10% of her RIF (as a annual payment) this year. The credit union withheld a 25% tax. She disputed it for a 15% tax . They asked her to fill the form NR301 so that they can adjust the tax to 15%. Is is a new form required by CRA ? (last year the same credit union withheld a proper 15% tax).
Serge
Re: NR301 for RIF payments
It is not a new form. Some firms who are unclear on the rules will ask for this.
The person she dealt with was uninformed. She needed to insist before the transaction was made on the 15%. The back office would have educated the agent.
The person she dealt with was uninformed. She needed to insist before the transaction was made on the 15%. The back office would have educated the agent.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best