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Frequently Asked Questions

General

Why is only one SIN listed on the tax slip for our joint account?

Although tax slips for joint accounts are issued in the name of two (or more) individuals, the Canada Revenue Agency only requires one SIN to be included on the tax slip. As a result, the primary account holder’s SIN will be displayed on your tax slip. Either account owner can use the slip for their tax return. You do not need to amend the tax slip to add any additional SINs.

 

Why haven’t I received a tax slip I usually get?

You may not receive tax slips if certain criteria are not met during the tax year. Here are the requirements for receiving some tax documents:

  • T5/Relevé 3 tax slips are not issued for total dividends and interest less than CDN$50.
  • NR4 tax slips are not printed for total income less than CDN$10.
  • Summary of Investment Income and Expenses is not issued if there were no entries for dividends or interest throughout the tax year.
  • Summary of Security Dispositions is not issued if no securities were redeemed, sold or matured during the tax year.
  • U.S. 1099-DIV or 1099-INT tax slips are not issued for total income less than U.S. $10.

 

Why are there so many different tax package mailings?

RBC Dominion Securities is required by federal regulation to mail T5 tax packages by the end of February. You may receive other mailings of tax packages because you held investments in Income Trusts or publicly-traded Limited Partnerships which have until the end of February to report their data to RBC Dominion Securities, according to federal legislation. Once the data is received, RBC Dominion Securities processes it and issues tax slips to you as soon as possible, which means you may receive more than one tax package from RBC Dominion Securities. Refer to Important Information Regarding Outstanding Tax Documents, included in your T5 tax package, for information about possible subsequent mailings. In addition, if you held Russell Sovereign or LifePoints investments or Mutual Funds, you will receive tax information slips directly from the issuer.

 

How do I know if I’ve received all of my tax slips?

The Tax Information Checklist lists all possible tax slips and supporting documents you may receive related to investments held with RBC Dominion Securities. If you will be receiving subsequent tax package mailings, you will find a report included in your T5 package called Important Information Regarding Outstanding Tax Documents. This report lists all of the Mutual Funds, Income Trusts, Limited Partnership Units or Split Corps for which you should expect to receive a tax slip. Please contact your Investment Advisor with any questions.

 

How can I have my tax slips delivered directly to my accountant or tax preparer?

Clients have the option to automatically mail registered (T4RSP, T4RIF, RL-2, NR4) and Canadian non-registered account tax packages that is produced and controlled by Dominion Securities to one Interested Party (IP) such as an accountant. The IP will receive all tax documents the client receives as well as the peripheral documents such as the fee summary document. Please see your Investment Advisor for further details on this convenient functionality.

 

What do I do if my accountant requests a tax document that is not listed in the Tax Information Checklist?

Your accountant may request a document that shows your sales, redemptions, and maturities for the year, sometimes called a T5008. RBC Dominion Securities provides you with the same information in the Summary of Security Dispositions (SSD) included in your T5 package. The SSD also lists purchases of T-Bills and discount bonds and includes book value (to the extent that it is available) and the gain/ loss on each transaction. Please note that book value and gain/ loss values are not reported to the Canada Revenue Agency. If you have further questions, please contact your Investment Advisor.

 

What should I do if I don’t know how to use my tax slips?

The Canada Revenue Agency provides instructions on the back of each tax slip. The CRA also provides information on how to complete your tax return on their website http://www.cra-arc.gc.ca/ (opens external website in new window). If you are having trouble filing your tax return, we encourage you to consult with a qualified tax advisor. Your Investment Advisor can answer any questions about tax documents issued by RBC Dominion Securities, however, your Investment Advisor cannot provide tax advice. Please contact your Investment Advisor if you need a referral to a qualified tax advisor.

 

The information contained herein has been obtained from sources believed to be reliable at the time obtained but neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers can guarantee its accuracy or completeness. This information is furnished on the basis and understanding that neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers is to be under any responsibility or liability whatsoever in respect thereof. This information is not intended as nor does it constitute tax or legal advice. Clients should consult their own accountant or other professional advisor for more detailed tax related information. RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. ®Registered trademark of Royal Bank of Canada. Used under licence. RBC Dominion Securities is a registered trademark of Royal Bank of Canada. Used under licence. ©Copyright 2017. All rights reserved.