I transfered IN KIND stocks from a RIF to an RSP. I have now received a an excess withdrawal T4RIF. What do I do?
You should also receive a RRSP contribution slip for the same amount which you will enter in the RRSP section of your tax return. This will offset the income from the RIF and the net tax consequences will be zero.
I transfered IN KIND stocks from a RIF to an RSP. I have now received a an excess withdrawal T4RIF. What do I do?
You should also receive a RRSP contribution slip for the same amount which you will enter in the RRSP section of your tax return. This will offset the income from the RIF and the net tax consequences will be zero.
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