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Where's the DTC letter that bank is asking for to open an RDSP account? Can't see it on CRA account.

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  • Dec 24th, 2020 4:28 am
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Dec 26, 2019
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Where's the DTC letter that bank is asking for to open an RDSP account? Can't see it on CRA account.

Hello, we know and are helping someone who applied for DTC a couple months ago and was approved a few weeks later. Went into TD Bank to open an RDSP account with TD Direct Investing. Bank rep is asking for a DTC letter. The problem is, we checked everywhere on the CRA account but don't see the DTC letter that TD is requesting.

Please see attached screenshots.

Where do you get that DTC letter?
Images
  • Screenshot_2020-12-23 Mail - My Account(1) _gimped.png
  • Screenshot_2020-12-23 Disability tax credit_gimped.png
  • Screenshot_2020-12-23 Benefits and credits.png
  • Screenshot_2020-12-23 Mail - My Account.png
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Sr. Member
Dec 5, 2011
546 posts
511 upvotes
YVR
pleasantpeasant wrote: Hello, we know and are helping someone who applied for DTC a couple months ago and was approved a few weeks later. Went into TD Bank to open an RDSP account with TD Direct Investing. Bank rep is asking for a DTC letter. The problem is, we checked everywhere on the CRA account but don't see the DTC letter that TD is requesting.

Please see attached screenshots.


Where do you get that DTC letter?

You should get a letter from the Federal Government saying that you have been approved for the DTC. I suspect that is what they want to see. I am not sure why since you can show them printouts of your account proving that you have been approved. Everything by mail takes a really long time to come from the government so you probably won't get it by Dec 31. So, I suggest you go back into the branch and tell them that this is all you have so far. Unfortunately, TD is very strict about opening RDSPs and doesn't want to budge on anything. I hate to give you bad news, but it doesn't seem likely that your account will be open by Dec 31 because once you get all the paperwork done in the branch, TD Waterhouse still has to set it all up. Good luck, but it would be a Christmas miracle if you got it all setup by the end of the year.

Wish you the best

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