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For Questrade users - Missing 2019 activity from CRA records?

  • Last Updated:
  • Jun 2nd, 2020 12:54 am
[OP]
Member
Jan 28, 2010
297 posts
40 upvotes
Montreal

For Questrade users - Missing 2019 activity from CRA records?

First question : has anyone got an issue with QT (TFSA) activities reported on CRA website?

Withdrawals I made in Feb2019 and July 2019 are still not reflected in CRA records.

I contacted Questrade a couple of times and they said that they have provided everything to CRA, but CRA has not yet updated their records (presumably due to covid related overload). Both the times they (QT) gave me a date at which I would see the records updated (i.e. what CRA provided them), however both dates are passed and nothing is updated.

Note that other broker's (Wealthsimple) activities are all there, even though they were made much later (Nov 2019).

Because of this, my actual available room (based on my calculation) is different than what is reported on CRA website.

Second question : Fearing of over contribution, what would you do in such case? Contribute based on your calculation (where you're 100% sure of your contribution limit) or be safe and abide with the CRA records (even though you know those are not correct)?
Last edited by CanadaDealSeeker on May 24th, 2020 11:18 pm, edited 2 times in total.
10 replies
Jr. Member
Nov 27, 2019
164 posts
122 upvotes
I didn’t have tax issue with Questrade.
Regarding over contribution, here is my experience: In 2016. I over contributed TFSA for 1k by mistake, realized it the very next day and pull it back. However, CRA found it in 2018. and I ended paying some interest but without the additional penalty. Maybe because it was obviously by accident, not on purpose.

Regarding RRSP, as far as I know, CRA tolerates over contribution up to 2K and count it as non deducted RRSP contribution for the next year. So, next year your RRSP room should be lower for that same amount (up to 2K). Over 2K would probably be the subject of penalty as well as the interest they charge per day.
Newbie
Mar 7, 2010
44 posts
26 upvotes
Toronto
I had the same issue with QT, but it was resolved a couple weeks ago. I made the same inquiry to QT and got the same response as yours.

Mine had no withdrawals, although I don't think that would've impacted much.
Deal Addict
User avatar
Dec 4, 2007
3963 posts
1633 upvotes
Quebec
all my transaction from QT appear on CRA website last week, usualy it doesnt take that long, i guess this year is exceptional.
Deal Addict
Jan 19, 2017
3753 posts
2156 upvotes
You should keep your own record of all TFSA activities. CRA records are always behind.
[OP]
Member
Jan 28, 2010
297 posts
40 upvotes
Montreal
misaki1111 wrote: I had the same issue with QT, but it was resolved a couple weeks ago. I made the same inquiry to QT and got the same response as yours.

Mine had no withdrawals, although I don't think that would've impacted much.
HyperTech wrote: all my transaction from QT appear on CRA website last week, usualy it doesnt take that long, i guess this year is exceptional.
good to know I'm not alone ... seems they are on track updating the records and hopefully mine gets updated too.
[OP]
Member
Jan 28, 2010
297 posts
40 upvotes
Montreal
divx wrote: qt didn't post mine few weeks ago either, now sure what is the status now.
if you check again , do let me know. As the above two ppl mentioned that they got theirs updated, am wondering maybe they are updating in batches.
Deal Addict
Nov 10, 2012
2261 posts
1548 upvotes
Calgary
My experience over the years is that Questrade always reports my TFSA activity to the CRA long after others have (TD). This year as others have noted was exceptionally slow. But I keep my own records so I don’t consider it a massive issue, just a bit of an annoyance.
[OP]
Member
Jan 28, 2010
297 posts
40 upvotes
Montreal
just to let you guys know if anyone else is missing it, I got mine updated on CRA website last week, so probably CRA updating in batches. Keep an eye and you will get your records fixed too.

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