Comments on: Reader Question: Should I Withdraw from my RRSP? http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: att. Steph http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-190229 att. Steph Tue, 28 Apr 2009 18:14:10 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-190229 If i was him, i would call first thing tommorow morrning but wait to fill out any forms in person. i would also fax all pages of documents together rather than as several faxes. If i was him, i would call first thing tommorow morrning but wait to fill out any forms in person. i would also fax all pages of documents together rather than as several faxes.

]]> By: Mike http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24241 Mike Fri, 16 Mar 2007 03:23:37 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24241 Wow, I'm really happy my comment made a difference. Wow, I’m really happy my comment made a difference.

]]> By: Canadian Dream http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24205 Canadian Dream Thu, 15 Mar 2007 20:27:21 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24205 It's amazing what you can get down with the banks if you call and ask someone. I've personally had Visa payments backdated to avoid interest fees and it showing up on my credit rating. My wife also got a deal on an extra DRIP share that ended up in her account. She got the normal trading fee reduced down to 50% for that single share trade. CD It’s amazing what you can get down with the banks if you call and ask someone.

I’ve personally had Visa payments backdated to avoid interest fees and it showing up on my credit rating.

My wife also got a deal on an extra DRIP share that ended up in her account. She got the normal trading fee reduced down to 50% for that single share trade.

CD

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24183 Canadian Capitalist Thu, 15 Mar 2007 16:08:35 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24183 Mike, I am glad Mike's suggestion worked for you. I didn't realize mutual fund companies will backdate a contribution. I learnt something new today :) Mike, I am glad Mike’s suggestion worked for you. I didn’t realize mutual fund companies will backdate a contribution. I learnt something new today :)

]]> By: Big Cajun Man http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24175 Big Cajun Man Thu, 15 Mar 2007 14:48:41 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24175 This goes back to the concept of "you can bargain with everyone, especially banks". Banks will listen to any suggestion, they might say NO, but they will listen. If your phone call had not worked, I would have suggested going to a branch and talking to a real human being next! Good on you! Remember, persistance pays off! --C8j This goes back to the concept of “you can bargain with everyone, especially banks”. Banks will listen to any suggestion, they might say NO, but they will listen. If your phone call had not worked, I would have suggested going to a branch and talking to a real human being next!

Good on you! Remember, persistance pays off! –C8j

]]> By: Mike L http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24172 Mike L Thu, 15 Mar 2007 14:04:06 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24172 @Mike Thanks for the recommendation to call them (I had half-heartedly planned on doing so but your comment helped convince me). After 15 minutes on hold I talked to them and they said they would send the tax receipt for this year! So no worries. Even though the payment from my account is dated March 2, they are going to honour the March 1 contribution date. CC, thanks for answering this question for me. @Mike
Thanks for the recommendation to call them (I had half-heartedly planned on doing so but your comment helped convince me). After 15 minutes on hold I talked to them and they said they would send the tax receipt for this year! So no worries.

Even though the payment from my account is dated March 2, they are going to honour the March 1 contribution date.

CC, thanks for answering this question for me.

]]> By: Business Tax Forms » Reader Question: Should I Withdraw from my RRSP? http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24149 Business Tax Forms » Reader Question: Should I Withdraw from my RRSP? Thu, 15 Mar 2007 07:09:39 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24149 [...] Original post by Canadian Capitalist and software by Elliott   [...] [...] Original post by Canadian Capitalist and software by Elliott   [...]

]]> By: Nhi http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24120 Nhi Thu, 15 Mar 2007 04:01:40 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24120 Don't forget the bank will usually charge a withdrawal fee as well. Don’t forget the bank will usually charge a withdrawal fee as well.

]]> By: rob http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24114 rob Thu, 15 Mar 2007 03:18:14 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24114 "On the morning of March 1st, I contributed an extra $3500 to my TD eFunds RRSP account. However, for some reason it didn’t go through until March 2nd." That was the problem. They need one business day to make a transaction. So you needed to make your transaction the day before. You placed your order on March 1st for the 2nd at the market close. It is clearly posted. It has caught me once as well. “On the morning of March 1st, I contributed an extra $3500 to my TD eFunds RRSP account. However, for some reason it didn’t go through until March 2nd.”

That was the problem. They need one business day to make a transaction. So you needed to make your transaction the day before. You placed your order on March 1st for the 2nd at the market close. It is clearly posted. It has caught me once as well.

]]> By: Mike http://www.canadiancapitalist.com/reader-question-should-i-withdraw-from-my-rrsp/#comment-24113 Mike Thu, 15 Mar 2007 03:12:41 +0000 http://www.canadiancapitalist.com/2007/03/14/reader-question-should-i-withdraw-from-my-rrsp#comment-24113 (From a different Mike) Mike have you called TD and see if they can backdate the depositdate of the contribution? It's pretty common for mutual fund companies/brokerages to do this even if they don't get the money for a contribution by Mar 1. As long as the rep got the money by Mar 1 that's good enough. In your case you should be able to prove you transferred it on the 1st. Call tomorrow! If that doesn't work then bite the bullet and just wait until next year for your return. Maybe you can shoot for Feb 29 next year instead of the 1st? (From a different Mike)

Mike have you called TD and see if they can backdate the depositdate of the contribution? It’s pretty common for mutual fund companies/brokerages to do this even if they don’t get the money for a contribution by Mar 1. As long as the rep got the money by Mar 1 that’s good enough. In your case you should be able to prove you transferred it on the 1st. Call tomorrow!

If that doesn’t work then bite the bullet and just wait until next year for your return.

Maybe you can shoot for Feb 29 next year instead of the 1st?

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