Hello,
I bought home first time & pulled $35K from RRSP account.
Saw my T4RSP filled by my bank on CRA. It shows $35K under box 22. Should it be under Box 27 ( HBP withdrawal ) ?
I am confused & not sure what should I do.
Please advise
According to the Canada Revenue Agency (CRA), to make an eligible withdrawal, an individual has to use Form T1036, Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP. The individual can then withdrawal up to $35,000. Any amount over that limit is reported in box 22.
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Yes, I am aware of it. But T4RSP slip on my bank shows all amount in box22 instead of Box 27. I been bank & filled & signed forms at the time of withdrawal.
Sounds like mistake from bank end.
You may want to contact the Canada Revenue Agency for clarification about this at 1-800-959-8281 then contact your bank to correct the T4RSP if needed.
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