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Scotia Wealth Management
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2023 tax slips checklist

— Scotia Wealth Management

January 3, 2024

As you prepare to review tax slips for your investment accounts, you may use the checklist below to determine if you have all your tax slips before filing your 2023 taxes.

Depending on your investments, you may receive all or some of the slips listed below.

Please note that U.S. residents and U.S. citizens living in Canada may be required to report the existence of Canadian accounts, including registered accounts and any income they earn, to the Internal Revenue Service or other U.S. government agencies.

While Scotia Wealth Management issues some of the relevant tax slips and supporting documents, depending on your holdings, you may receive tax slips from issuers directly. It is your responsibility to ensure that all income is reported on your Income Tax Return – whether or not it is reported on a tax slip.

You may find it helpful to provide this information to your tax advisor.

Non-registered accounts

Tax slip Regulatory/Expected mailing date Overview
T5/RL-3/NR4
(Investment income)		 February 29 Reports income related to dividends from stocks, interest and accrued interest from bonds, and interest from other debt instruments and cash balances.
T5008/RL-18 February 29 Reports proceeds and book value of security dispositions in the currency of settlement.
Foreign Income Verification Report February 29 Provided to Canadian residents who hold/held foreign securities to support T1135 filing requirements with CRA.
T3/RL-16/NR4
(Trust and mutual fund income)		 April 1 Reports income from income trusts and mutual funds (reported by fund company).
This includes totals for all taxable trust unit distributions.
T5013/RL-15/NR4 April 1 Reports gains and losses and/or distributions within a Limited Partnership.

U.S. Reporting

Tax slip Regulatory/expected mailing date Overview
1099 January 31 Issued to U.S. persons on U.S. source dividends, interest income and royalty income.
Proceeds of dispositions are only issued to U.S. persons residing in the U.S.
1042-S March 15 Issued to non-U.S. persons and reports U.S. limited partnership distributions.

Registered accounts

Tax slip Regulatory/expected mailing date Overview
RRSP
contribution
receipts		 February 29 Reports the value of cash and or securities contributed to your Registered Retirement Savings Plan (RRSP). One receipt will be issued for contributions made from March 1 through December 31, 2023. Receipts will be issued daily for contributions made in the first 60 days of 2024.
T4A/RL-1/NR4
(DPSP and RESP withdrawals)		 February 29 Reports Deferred Profit Sharing Plan (DPSP) withdrawals and Educational Assistance Payments (EAP) and Accumulated Income Payments (AIP) from Registered Education Savings Plans (RESP).
T4RSP/RL-2/NR4
(RRSP withdrawals)		 February 29 If you withdraw funds from a Registered Retirement Savings Plan (RRSP) you must add the amount of the withdrawal to your income. Tax is withheld from the withdrawal and remitted to the Canada Revenue Agency (CRA). The amount of tax withheld is also reported on the slip.
T4RIF/RL-2/NR4
(RRIF withdrawals)		 February 29 All Registered Retirement Income Fund (RRIF) and Life Income Fund (LIF) clients are required to receive an annual minimum payment in the year following the year in which the account was opened and funded. The total of all payments is taxable and is reported to the Canada Revenue Agency (CRA). If more than the minimum payment is requested taxes are withheld on the excess amount and remitted to the CRA. The amount of tax withheld is also reported on the slip.
T4FHSA/RL-2/NR4
(FHSA withdrawals)		 Issued by February 29 Reports the value of cash and/or securities contributed, withdrawn and/or transferred in your First Home Savings Account (FHSA). Only one receipt will be issued for the prior tax year.

Legal

This publication has been prepared by Scotia Capital Inc. and is intended as a general source of information only and should not be considered as personal and/or specific financial, tax, pension, legal or investment advice. We are not tax or legal advisors and we recommend that individuals consult with their qualified advisors before taking any action based upon the information contained in this publication. Opinions and projections contained in this publication are our own as of the date hereof and are subject to change without notice. While care and attention has been taken to ensure the accuracy and reliability of the material in this publication, neither Scotia Capital Inc. nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of such material and disclaim any liability resulting from any direct or consequential loss arising from any use of this publication or the information contained herein. This publication and all the information, opinions and conclusions contained herein are protected by copyright. This publication may not be reproduced in whole or in part without the prior express consent of Scotia Capital Inc.