Tax slips checklist

As you prepare to review tax slips for your investment accounts, you may use the checklist below to determine if you have all your tax slips before filing your 2019 taxes. Depending on your investments, you may receive all or some of the slips listed below.

Please note that U.S. residents and U.S. citizens living in Canada may be required to report the existence of Canadian accounts including registered accounts and any income they earn to the Internal Revenue Service or other U.S. government agencies.

While Scotia Wealth Management issues tax slips and supporting documents, it is your responsibility to ensure that all income is reported on your Income Tax Return – whether or not it is reported on a tax slip.

You may find it helpful to provide this information to your tax advisor.

Non-registered accounts

Tax slip

Regulatory/ expected mailing date

Overview

T5/RL-3/NR4

(Investment income)

March 2

Reports income related to dividends from stocks, interest and accrued interest from bonds, and interest from other debt instruments and cash balances.

T5008

March 2

Reports proceeds and book value of security dispositions

Foreign Income Verification Report

March 2

Provided to Canadian residents who hold/held foreign securities to support T1135 filing requirements with CRA.

T3/RL-I6/NR4

(Trust and mutual fund income)

March 30

Reports income from income trusts and mutual funds (reported by fund company). This includes totals for all taxable trust unit distributions.

T5013/RL-15/NR4

March 30

Reports gains and losses and/or distributions within a Limited Partnership.

U.S. reporting

Tax slip

Regulatory/ expected mailing date

Overview

1099

January 31

Issued to U.S. persons on U.S. source dividends, interest income and royalty income. Proceeds of dispositions are only issued to U.S. persons residing in the U.S.

1042-S

March 30

Issued to non-U.S. persons and reports U.S. limited partnership distributions.

Registered accounts

Tax slip

Regulatory/ expected mailing date

Overview

RRSP contribution receipts

March 2

Reports the value of cash and or securities contributed to your Registered Retirement Savings Plan (RRSP). One receipt will be issued for contributions made from March 1 through December 31, 2019. Receipts will be issued daily for contributions made in the first 60 days of 2020.

T4A/RL-1/NR4 (DPSP and RESP withdrawals)

March 2

Reports Deferred Profit Sharing Plan (DPSP) withdrawals and Educational Assistance Payments (EAP) and Accumulated Income Payments (AIP) from Registered Education Savings Plans (RESP).

T4RSP/RL-2/NR4

(RRSP withdrawals)

March 2

If you withdraw funds from a Registered Retirement Savings Plan (RRSP) you must add the amount of the withdrawal to your income. Tax is withheld from the withdrawal and remitted to the Canada Revenue Agency (CRA). The amount of tax withheld is also reported on the slip.

T4RIF/RL-2/NR4

(RRIF withdrawals)

March 2

All Registered Retirement Income Fund (RRIF) and Life Income Fund (LIF) clients are required to receive an annual minimum payment in the year following the year in which the account was opened and funded. The total of all payments is taxable and is reported to the Canada Revenue Agency (CRA). If more than the minimum payment is requested taxes are withheld on the excess amount and remitted to the CRA. The amount of tax withheld is also reported on the slip.