For Questrade users - Missing 2019 activity from CRA records?

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Jun 2nd, 2020 12:54 am

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May 24th, 2020 8:48 pm

CanadaDealSeeker [OP]: Member; Jan 28, 2010; 346 posts; 54 upvotes; Montreal

May 24th, 2020 8:48 pm

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

May 24th, 2020 10:51 pm

florenntina: Member; Nov 27, 2019; 349 posts; 446 upvotes

May 24th, 2020 10:51 pm

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.

May 24th, 2020 11:50 pm

misaki1111: Newbie; Mar 7, 2010; 74 posts; 41 upvotes; Toronto

May 24th, 2020 11:50 pm

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.

+1

May 25th, 2020 1:35 am

HyperTech: Deal Addict; Dec 4, 2007; 4298 posts; 1952 upvotes; Quebec

May 25th, 2020 1:35 am

all my transaction from QT appear on CRA website last week, usualy it doesnt take that long, i guess this year is exceptional.

+1

May 25th, 2020 2:43 am

divx: Deal Expert; Oct 26, 2003; 37678 posts; 5432 upvotes; Winnipeg

May 25th, 2020 2:43 am

qt didn't post mine few weeks ago either, now sure what is the status now.

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May 25th, 2020 3:26 am

ml88888888: Deal Fanatic; Jan 19, 2017; 7688 posts; 4484 upvotes

May 25th, 2020 3:26 am

You should keep your own record of all TFSA activities. CRA records are always behind.

May 25th, 2020 5:13 am

CanadaDealSeeker [OP]: Member; Jan 28, 2010; 346 posts; 54 upvotes; Montreal

May 25th, 2020 5:13 am

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.

May 25th, 2020 5:15 am

CanadaDealSeeker [OP]: Member; Jan 28, 2010; 346 posts; 54 upvotes; Montreal

May 25th, 2020 5:15 am

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.

May 25th, 2020 7:52 am

xgbsSS: Deal Fanatic; May 11, 2014; 5766 posts; 7782 upvotes; Rankin Inlet, NU

May 25th, 2020 7:52 am

My TFSA records for Virtual Brokers hasnt shown up since 2016. I do my own records because of this.

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Jun 1st, 2020 10:53 pm

jarfgames: Deal Addict; Nov 10, 2012; 2754 posts; 2076 upvotes; Calgary

Jun 1st, 2020 10:53 pm

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.

+1

Jun 2nd, 2020 12:54 am

CanadaDealSeeker [OP]: Member; Jan 28, 2010; 346 posts; 54 upvotes; Montreal

Jun 2nd, 2020 12:54 am

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.

+1

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