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Article #2question rsp contribution screw-up
From: Carlos
Date: Tue, 17 Nov 1998 00:00
Date: Tue, 17 Nov 1998 00:00
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1989 bytes
Forgive the cross-posting, but I'm not sure where to address this question. My sister-in-law had me go over her statements from her broker because there was something she didn't understand. It turns out, she requested to cash in her non-rsp account, but the broker/advisor made an error. The statements showed one of the mutual funds issued a cheque, and it was deposited in her rsp account (approx $11,000). The statement then shows a withdrawal from the rsp of approx $15,000 (numbers rounded for simplicity). She was issued a cheque for approx $11,000 (I assume the rest was for withholding tax). a. she never requested the deposit into her rsp account b. she never requested a withdrawal from her rsp account c. the deposit puts her over her contribution limit d. the withdrawal will increase her income by approx 15,000 e. her rsp account shows an "overdraft" of almost $5000 f. she is paying interest on this "overdraft" Her account manager is on vacation, so we will book an appointment as soon as she returns, but in the meantime, I am trying to find some info. 1. can the rsp deposit/withdrawal be reversed? 2. if not, what action can she take against the broker/manager/manager? Please help.. thanks. carlos. cmartin@pathcom.com
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X-Google-Language: ENGLISH,ASCII-7-bit X-Google-Thread: f64a0,7b27e76f0cc1c261,start X-Google-Attributes: gidf64a0,public X-Google-Thread: 1104bc,7b27e76f0cc1c261,start X-Google-Attributes: gid1104bc,public From: Carlos <cmartin@pathcom.com> Subject: question rsp contribution screw-up Date: 1998/11/17 Message-ID: <3652077A.346F@pathcom.com> X-Deja-AN: 412950488 Content-Transfer-Encoding: 7bit Content-Type: text/plain; charset=us-ascii X-Complaints-To: abuse@pathcom.com X-Trace: newsmaster.pathcom.com 911345506 29851 209.112.18.60 (17 Nov 1998 23:31:46 GMT) Organization: Pathway Communications Mime-Version: 1.0 NNTP-Posting-Date: 17 Nov 1998 23:31:46 GMT Newsgroups: misc.canada.stocks,can.taxes