October 30, 2019 3:36 PM
You should have three separate tax slips for this transaction and need to report them as follows:
- The amount in Box 67 of a T4 (Non-Eligible Retiring Allowance) needs to be reported as income even if you didn't purchase an RRSP.
- If an RRSP was purchased, that is a totally separate tax slip and needs to be entered on the tax return of who "contributed" to it. (If this was a "spousal RRSP", it will say Contributor and Annuitant and gets reported by the Contributor.)
- If an RRSP was then withdrawn, a T4RSP slip showing the amount of the withdrawal and any income tax withheld on it will be issued. (If this was a "spousal RRSP, the slip is issued in the annuitant's name and special rules apply if it was withdrawn within 3 years of contributing).
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