Premature withdrawal from a spousal RRSP
If your spouse or spouse withdraws the RRSP in which you
contributed in the three-year rule, you must follow this
procedure.
Here's an example, she contributed to her spouse's RRSP.
Year Amount
2014 $
5,000
2017 $
2,000
2018 $
1,000
2019 $
1,500
Madam has contributed an amount of $9,500, and her spouse
has withdrawn in 2019 an amount of $6,500.
In your file, you must create a T4RSP.
1- On the "Left-side menu on the Interview
tab", select "Interview setup".
2- On the right-hand page, go to the "Pension"
group check the box "Pension income, other income and split
pension income (T4A, T4A(OAS), T4A(P), T4A-RCA, T4RSP, T4RIF,
T1032)", and click " Next"at the
bottom of the page.
3- Return to the "Left-side menu on the Interview
tab" and select the line "T4A and pension
income".
4- On the page to your right, select the line
"T4RSP - Income from registered retirement saving plan
(RL-2)".
5- On the "T4RSP - RRSP income (RL-2)"
page, select "Box 22 - Early spousal withdrawals
(RL-2, box C)" and enter the amount of $4,500.
The amount of a premature RRSP withdrawal will
be reported by the program on line 12900 of the federal
return and for Quebec residents, on line 154 of the Quebec
return with code 05 on line 153.
Please note that your spouse must enter in
their T4RSP the line
"Withdrawals and commutation payments (RL-2, box
C)" and enter the amount $ 2,000.
In addition, this person must enter in his T4RSP the taxes that
were withheld at source.
Please note that the program does not
support Form T2205 and we recommend you
contact the CRA to determine if the information on your T4RSP slip
is sufficient.
For more information about premature RRSP withdrawals from a
spouse, please visit the following links:
For the CRA:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/making-withdrawals/withdrawing-spousal-common-law-partner-rrsps.html
For Revenu Québec:
https://www.revenuquebec.ca/en/citizens/your-situation/separation-or-divorce/withdrawal-of-funds-from-an-rrsp-further-to-the-partition-of-family-patrimony/
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Webpage: KPA385-20190715090155DE.htm
