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TFSA transactions in revenue canada my account
April 6, 2020
8:15 am
christinad
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My tfsa transactions for 2019 still aren't showing for hubert in revenue canada my account. Is anyone else having this problem?

April 6, 2020
8:24 am
Doug
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christinad said
My tfsa transactions for 2019 still aren't showing for hubert in revenue canada my account. Is anyone else having this problem?  

Try not to rely on this. As far as I'm aware, while there may be a deadline for financial institutions to submit their TFSA reporting, the Canada Revenue Agency provides flexibility in terms of whether or not those deadlines for filing are adhered to. At the same time, your financial institution may have already submitted their filing, but the CRA has not processed the upload that integrated it into the My Account tool. With the CERB, CRA's I.T. and other staff have been reallocated, so it's possible those usual uploads may be delayed until the end of the year.

What I would do is take your previous year's return, which you should have (that is, 2018), and then manually add back in any withdrawals you made in 2019, subtract any contributions made in 2019, and add in your 2020 contribution limit, and you'll be fine. Repeat this process for each TFSA you hold.

This is why holding more than one or two TFSAs is problematic and I do not recommend it. Best to operate one self-directed discount brokerage TFSA and one bank/credit union TFSA, withdrawing and closing it out at the end of the year or transferring* it (*subject to a fee, for most FIs).

Cheers,
Doug

April 6, 2020
8:46 am
Bill
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Due to the time lags for fi reporting to CRA and then CRA posting to My Account I keep a scrap of paper with all my TFSA ins-and-outs so I know exactly where I stand.

April 6, 2020
8:58 am
Vatox
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Forget CRA My Account numbers. Record your own transactions and contribute the amount you know is correct. That’s how simple it is.

April 6, 2020
9:26 am
frugal lady
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christinad said
My tfsa transactions for 2019 still aren't showing for hubert in revenue canada my account. Is anyone else having this problem?  

Yes, 2019 for hubby and myself do not show posted yet. I rely on my own calculations and hopefully CRA will catchup sometime.

April 6, 2020
9:45 am
GICinvestor
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christinad said
My tfsa transactions for 2019 still aren't showing for hubert in revenue canada my account. Is anyone else having this problem?  

I did not have any with Hubert. My PT ones show. I had numerous problems years ago with Outlook Financial of which one was no reflection of TFSA contributions. I had been in contact with VP over the years so asked why no show. Response was, they have proof of sending to CRA and a confirmation from CRA. So I contacted my local MP as you are supposed to. So he passes on to proper minister, of course without letting me know. So many months later that minister of ?? first chastised me for contacting the Minister of Fisheries and not her. Never the less just a bunch of hot air....no help at all. So I recontacted Outlook and said I had contacted the federal government and I may have thrown a bluff in there too! Never the less they resubmitted and a few weeks later they showed.

As others have mentioned and likely you do too. I print and file in PDF the transaction summary short form and the transaction long form showing deposits and withdrawals from day one (2009?).

I keep a copy of short form that shows contribution room for 2020.
I then make a column for contributions and one for withdrawals. I jot the date, amount and FI. I also input to an excel program.

If any one wants the excel program let me know.

April 6, 2020
10:16 am
Bill
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My Account does have some useful aspects, so just use those and ignore the rest. I do like seeing what 3rd parties have reported to CRA re me, though clearly the time lag is inconvenient sometimes.

April 6, 2020
10:35 am
BillieBob
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There is another recent thread about this. I emailed Hubert to ask. Their reply to me is in post #13. According to them, it is a CRA issue.

https://www.highinterestsavings.ca/forum/hubert-financial/hubert-tfsa-gic-not-being-reported-to-cra/

April 6, 2020
11:06 am
GICinvestor
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BillieBob said
There is another recent thread about this. I emailed Hubert to ask. Their reply to me is in post #13.

https://www.highinterestsavings.ca/forum/hubert-financial/hubert-tfsa-gic-not-being-reported-to-cra/  

That was a good post. I am thinking back to my main frame days and perhaps the Canadian governments computer is as ancient as me!
So as each batch of data is uploaded from the FI to a government system then some one would have to run a job to take each batch and then move to your account based on SIN number. In my days it was from one computer then on tape to another and then the jobs were run. Some jobs took hours. Perhaps CRA should publish when the next job will run and how many days or hours it will take.

Also ask if Hubert has received confirmation of your upload.

April 6, 2020
8:34 pm
christinad
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Thanks. I keep track but what cra has seems more official and i worry i will make a mistake. I will probably phone cra eventually but i don't think you are supposed to phone right now.

April 7, 2020
8:13 am
Doug
British Columbia, Canada
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christinad said
Thanks. I keep track but what cra has seems more official and i worry i will make a mistake. I will probably phone cra eventually but i don't think you are supposed to phone right now.  

If it was an honest mistake, I'm sure the CRA would be reasonable and reverse any nominal interest penalty upon request. In actual fact, my experience with the CRA has always been positive in contrast to that with the Coast Capital Savings Contact Centre. 🙁

Also, in your past double-checking with CRA, have you ever been incorrect? Guessing no, or not meaningfully. I suspect your bookkeeping and accounting is impeccable and you are just doubting yourself. So, give yourself a confidence boost and tell yourself, "It's okay; I've got this!"

Cheers,
Doug

May 15, 2020
10:30 pm
christinad
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Just a note my revenue canada my account is up to date now with my sunova transactions for others waiting. I actually have more room than i thought.

May 16, 2020
7:10 am
cruzinalong
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GICinvestor said

That was a good post. I am thinking back to my main frame days and perhaps the Canadian governments computer is as ancient as me!
So as each batch of data is uploaded from the FI to a government system then some one would have to run a job to take each batch and then move to your account based on SIN number. In my days it was from one computer then on tape to another and then the jobs were run. Some jobs took hours. Perhaps CRA should publish when the next job will run and how many days or hours it will take.

Also ask if Hubert has received confirmation of your upload.  

How do they maintain mainframes these days without us? COBOL is supposed to be obsolete. Not offered in colleges. There are automatic job schedulers that start processes at specific times. That is how banks operate. I get deposit/withdrawal emails from my bank. CRA deposits occur 10:08PM-10:09PM. Transfers within internal accounts occur from 1:13AM-1:27AM. Interest deposited 2:52AM. External transfers occur many different time frames during the day. 7:45AM & 10:37AM-10:41AM. ETC.

May 20, 2020
5:13 pm
moneyhelp
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christinad said
My tfsa transactions for 2019 still aren't showing for hubert in revenue canada my account. Is anyone else having this problem?  

I just checked my 2019 TFSA Transactions and it still doesn't populate with my transactions. Are you still finding the same?

I keep my own records and typically Questrade updates the CRA by February or March. Its now end of May almost, tax deadline is June 1st, does anyone know what is going on?

Also, no matter how many times I call CRA, I can never get through whenever I pick TFSA as for the reason for my call. It simply goes in circles in the automated section where it will provide my information which I can already get from MyCRA anyway. I just want to speak with someone there to find out why my transactions still haven't shown up. Next step is I will call Questrade and ask if they already submitted it, but if they say yes, then what do I do?

Any help would be greatly appreciated.

May 20, 2020
5:30 pm
GICinvestor
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All TFSAs on My Account show on both of our accounts. Oaken was late this year. I do keep very strong records as well. Hubert will show as Sunova. I would suggest that you go online and print your Hubert TFSAs that were purchased from non registered funds in 2019 and then ask Hubert to “resubmit” to CRA. I had similar years ago fall through the cracks with another FI and after weeks of emails....that was the solution.

I have an Excel Program to track if any one is interested.

May 20, 2020
10:57 pm
moneyhelp
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GICinvestor said
All TFSAs on My Account show on both of our accounts. Oaken was late this year. I do keep very strong records as well. Hubert will show as Sunova. I would suggest that you go online and print your Hubert TFSAs that were purchased from non registered funds in 2019 and then ask Hubert to “resubmit” to CRA. I had similar years ago fall through the cracks with another FI and after weeks of emails....that was the solution.

I have an Excel Program to track if any one is interested.  

My Apologies, since the OP (which is over 1 month ago) was experiencing exactly what I am still experiencing, only difference, he is experiencing it with Hubert, I am experiencing it with Questrade TFSA 2019 transactions still not showing up at CRA website.

Perhaps I should create my own post under Questrade...again, my apologies to the OP and members.

May 21, 2020
5:34 am
Bill
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moneyhelp, I wouldn't worry about My Account these days, CRA is so far behind this year, doubt many of them are working. I sent them two cheques for trust returns in March, they just got cashed yesterday. Just keep your own records (I've said here before I've got one piece of paper I keep my TFSA ins/outs on) and check CRA again in 6 months or so.

Please write your comments in the forum.