T4A slip with box 32, profile is prompting me to fill out either box 126 or 162. How do I know which box to fill out? Will the client have to ask his former employer?

Box 126 will keep RPP deduction

Box 162 will remove RPP deduction

How do I know which box to fill out? Will the client have to ask his former employer?

I've attached a screenshot for reference.

T1.docx

Answer

Hello ha1ey0323,

As the message indicates it might not apply. 

"Box 032 - Registered pension plan contributions (past service)
Enter the amount you can deduct on line 207 of your return. For more information, see Guide T4040, RRSPs and Other Registered Plans for Retirement.

The amounts in the following boxes are included in box 032 :

Box 126 - Pre-1990 past service contributions while a contributor
Box 162 - Pre-1990 past service contributions while not a contributor"

You can find more information on this from the CRA's guides including the "RRSPs and Other Registered Plans for Retirement" guide at the bottom of page 7.

There it mentions it is possible to retrieve the relevant information "on a receipt that your plan administrator issued".

https://www.canada.ca/content/dam/cra-arc/formspubs/pub/t4040/t4040-17e.pdf

Was this answer helpful? Yes No
Default user avatars original
Daniel P. , Mr.

No answers have been posted

More Actions

People come to ProFile for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach: