# T5 from CIBC



## gibor365 (Apr 1, 2011)

I have in CIBC both, GIC and eAdvantage saving account (it's not IE).... I received T5 for GIC long time ago by mail, but still didn't received T5 for Saving account... Contacted CIBC by phone, they told me to go to branch...went to the branch 3 weeks ago , talked to branch manager who submitted request to sent me T5 from CIBC tax department... still nothing....
yesterday sent her email...she replied that she talked with CIBC tax department who were supposed to mail me T5...
Is anyone had problem with CIBC? If I don't recieve T5 , can I just calculate interest by myself and enter this amount into Turbotax ?

I'm so pissed off ... from CIBC, CRA, Canada Post :upset: every year I easte so much time and nerves on this ridiculous taxation.....


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## jumbalaya (Jan 17, 2013)

you get a lot of interest income from a savings account? i usually just add all the interest I get a year from pcfinancial manually... it's just 12 lines.

but i feel you... i'm awaiting my T5 from questrade too. just have to be patient... April 30 is the deadline, and for me it's really easy just to pop in the info into my substantially complete tax return online anyway, so i'm not that concerned.


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## james4beach (Nov 15, 2012)

They won't send it for under $50, but you must still report those amounts.


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## gibor365 (Apr 1, 2011)

forgot to mention  it's much more than $50


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## james4beach (Nov 15, 2012)

gibor provided that you have clear statements or account history showing each interest payment, you can certainly calculate it yourself.

In most of the past years I have calculated the T5 "interest income" amount myself on my tax returns. It's very straightforward in standard savings accounts that pay out interest. I just sum the numbers and add it to my software's T5. When the real slip comes in, it's usually right on.

The one type of account I can't calculate too accurately are GIC accounts. These accounts have some kind of notional or accrued interest thing going.


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## Homerhomer (Oct 18, 2010)

Yes, you can report the income even if you haven't received a slip, just enter it as if you have received T5 slip, no as other income or whatever. If later on your reporting doesn't match with what CIBC reported to cra there may be a small adjustment, but better this than having adjustment on the whole amount.

I have been lately dealing with CIBC as well, one bad experience after another.


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## Eclectic12 (Oct 20, 2010)

For something as predictable or that there's statements listing the interest ... if the T5 is late, I manually enter it with a note on the description to remind myself that the T5 is yet to be received.

I've never really had this problem though as I typically receive all the T5s, including for the brokerage account by end of Feb and once in a while, mid-March.


Cheers


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## gibor365 (Apr 1, 2011)

> I have been lately dealing with CIBC as well, one bad experience after another.


 actually I don't have problem with CIBC except this one.... you like talking to the wall.... everyone "pretend" they are doing somrthing, but no result...
There is no problem with IE or Tangerine - just printed e-forms, PT sent all on time.... only issue with CIBC ... and I almost forgot about my CIBC saving account as I moved all $ from there long time ago.... and than go deal with CRA "monsters" , explain tham that CIBC didn't send you slip....
btw, TD is not better, 3 weeks ago I send then T2033 to transfer money out ... still NOTHING! I was told that they have SLQ 21 business days to transfer money! Isn't it ridiculous!


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## Eclectic12 (Oct 20, 2010)

gibor said:


> .... and than go deal with CRA "monsters" , explain tham that CIBC didn't send you slip....


Why?

For missing slips they tell to include an estimate and a note. Worst case, they might ask you for the real T5 down the road ... I doubt it as they will have received the info as a computer data transfer.

I've never had any followup where I've plugged in the numbers for as many as three under $50 T5 slips. I've also had a charitable donation slip drop $200 down to $20, provided the real number with a note where I was never asked to provide the accurate slip.

Some of these situations where using netfile where I doubt the info I put into the description to remind myself of what it was from/what was missing was part what CRA received.


I can understand being frustrated about the missing form but you seem to be far more worried than you need to be and over complicating things. It sounds like you know the real number and know it's a simple type of income so why are you wasting time over it? Just plug the number into your tax return, make sure to keep any support documents and move on ...


Cheers


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