# TFSA Questrade - incorrect records sent to CRA



## onomatopoeia (Apr 8, 2009)

Just received a TFSA overcontribution for 2011 letter from CRA. After looking at what happened looks like Questrade mistakingly sent my contributions in jan/feb of 2011 twice each - so CRA thinks I contributed twice as much as I have.

Has anyone else seen anything like this where there was a TFSA mistake at their finincial institution?

I have contacted Questrade, and will call CRA on Monday. I'm not really worried, more curious if anyone else has had it happen yet, and to double check your contribution limits vs what you think you should have.


----------



## namelessone (Sep 28, 2012)

I also received this. Same problem: Questrade reported my Jan 2011 TFSA contribution twice.


----------



## Walksing (Oct 16, 2012)

namelessone said:


> I also received this. Same problem: Questrade reported my Jan 2011 TFSA contribution twice.


Got the same thing from CRA. Called questrade, they will fix this and update to CRA


----------



## namelessone (Sep 28, 2012)

Walksing said:


> Got the same thing from CRA. Called questrade, they will fix this and update to CRA



I hope Questrade sends out a message to all users that they'll fix this. Or they'll be flooded with emails/calls/live chat requests. lol


----------



## Saniokca (Sep 5, 2009)

My wife had a similar problem - Questrade fixed it. Hopefully they will get their act together...


----------



## m3s (Apr 3, 2010)

> It has come to our attention that our previous clearing firm reported inaccurate TFSA contributions for 2011 to the CRA. If you were affected, you may receive a notice from the CRA stating you deposited more than your actual contribution.
> 
> We are currently working on amending this error with the CRA and will update all affected clients once this issue has been resolved or if there will be any action required on your part.
> 
> If you have any questions, please call us at 1.888.783.7866. For live help, go to www.questrade.com/livehelp.


From Questrade


----------



## slacker (Mar 8, 2010)

OMG they suck.


----------



## the_apprentice (Jan 31, 2013)

I knew something was wrong. This would explain a lot...


----------



## avrex (Nov 14, 2010)

I also received both the notification from the CRA 
and the following email from Questrade.


> "We are currently working on amending this error with the CRA and will update all affected clients once this issue has been resolved or if there will be any action required on your part."


I'll give Questrade one-week to send me another email indicating that this is actually resolved.
Otherwise, I'll write my own letter to the CRA to explain the situation.

Why do I need to be proactive with this? 
As of right now, the CRA is charging me a *$1,500 fine*, due to over contributions in the 2011 year.
I want this cleared up as soon as possible.


----------



## zoya (Mar 20, 2011)

Just spoke with CRA. They told me that even though Questrade will clear it up, it's better that I send them a letter explaining the situation, attach the email I've received from Questrade as well as the statments showing my contributions for 2011.


----------



## m3s (Apr 3, 2010)

Meh there's no reason to paper the CRA and make more work for everyone. I'll let Questrade sort out their own mistake as they have coordinated with me.... 1 week is nothing. Besides I can prove I didn't over contribute.... so there's nothing to get spun up about


----------



## Uranium101 (Nov 18, 2011)

any words from CRA yet?


----------



## onomatopoeia (Apr 8, 2009)

Uranium101 said:


> any words from CRA yet?


Talked to them a few days ago - they hadn't heard a thing...said it could take 6-8 weeks to get them updated. They told me again that if questrade was working on it that i didn't need to send CRA anything.

Will check with questrade about the status soon...nearing the 1 month mark.

Again, not really worried, just want to make sure someone is actually doing something.


----------



## Uranium101 (Nov 18, 2011)

Could someone make a post when it's resolved for you?


----------



## Saniokca (Sep 5, 2009)

Just got another letter from CRA - apparently the issue hasn't been fixed. This is irritating...


----------

