Are others finding most T5s in CRA? In prior years I found T5s used to be some of the first documents uploaded. This year it is rare to find any of the T5s uploaded. I’m aware of the delays and issues with CRA uploading but didn’t expect it to still be such an issue this close to the deadline.
Unfortunately I find they’re often the forms the CRA upload helps me catch which clients miss. Especially the T5s associated with a savings account and not part of an investment account. I’ve yet to come up with an effective strategy on how to help my clients find these online. The T5s from investment accounts have been easy but those pesky savings account ones. If anyone has any feedback on effective strategies for helping guide the client to locate them online or for getting to a point of confidence there will be nothing more coming I’d love to hear it.
I have my clients call the bank and ask. I don’t care if the banks are inundated with phone calls. Share the fun. And it’s less likely that I’m held to account for missing that slip.
It’s now April 19th and most of the T5 slips issued by the major banks are not even posted to the CRA website. At this point I’d say it’s unlikely that you can rely on AFR to have the slips that you need to complete your client’s return if you are hoping to file by April 30th. Many T3 slips are starting to appear, and oddly enough I have seen some of the T5008’s that were available a month ago are no longer available.
What I find really strange is that all of the T5 slips that I prepared are available via AFR. Even the few that I found it necessary to mail to the Jonquière Tax Centre in Quebec because I had no RZ number for them (new filers) are available via AFR.
Something smells really fishy…
With regard to missing T5 slips… if the client had one last year I encourage them to log into their online banking and hunt for tax slips. Otherwise, they do what @kevin has suggested.
RBC Dominion Securities can email out a complete reporting package in literally 30 minutes.
I solved the problem by sending the client to their bank to pick up an actual printout of the T5. One came back in 10 minutes, the other came back the next day. The banks have them, the clients just have not received them yet.
i have no words
Most of my clients have dozens of slips, and it is one thing to have to enter them, but then explain that you have to charge them more
the amount of time that I didn’t account for either
Another thing to remember as slips start coming on-line and you’re doing AFR to update slips. Make sure you delete the slips you’ve entered manually that might be duplicated as slips start appearing on CRA’s system.
I have T5s that I’ve filed that are on RAC.
I have T3 slips that I’ve filed that are nowhere to be found. (None at all.)
Still nothing from TD Bank, CIBC or RBC, Odlum Brown other than T5008s. No T5s, T3s…some T4As for pensions. Nothing from Alberta Health (T4s).
This speaks to a larger problem at CRA…this isn’t just about large orgs being “unable to file slips” which is what it’s been painted as…there is a bigger issue at play and so far it’s being successfully hidden by CRA.
Edit/addition: just went online to RAC to check the T3s…none show as “received” either…and in prior years they were generally processed within 10 days (Alter Ego Trusts so NIL tax).
So the fact that many large orgs have not filed slips is reason to believe that the stated reason of large orgs not being able to file slips is just cover for some mysterious, nefarious reason? Your logic doesn’t follow, though your history of anti-government posts speaks to why.
Yeah, the amount of time it has added… this might be the first year I can remember where I don’t get all of the work done before the deadline for those who got me documents other than deadline day or a day or two before. I’m grateful for AFR, TaxCycle and other technologies as it has doubled my capacity as compared to 10 years ago. But now being reliant on AFR… and the majority of information not being available and clients not being used to having to find all of their statements themselves… the extra time per file… I suspect I’ll be in new territory in 8-10 days trying to prioritize the files that won’t qualify for the deadline extension. An extension which CRA doesn’t seem to want to be known and couldn’t even be confirmed by a CRA rep I last spoke with.
It has been a frustrating year for sure. Just going to keep plugging away and deal with what comes.
This is terrible. Today is April 21 already. Still no AFR for T3, T5, T5008 etc …
Clients have many dozens of these missing slips … None are available AFR.
I had to manually enter the paper statements one by one in Taxcycle. RBC is completely unavailable, plus other unknown ? :
CRA must give all those affected a deadline extension.
I notice I spend much more time on each tax return this year compared to last year, so I increased my fees. After tax season, I expect to do many T1 adjustments, which will also be billable. Is anyone else having the same experience
I thought…for a bit…that maybe things were fixed when I tried an AFR yesterday and it barfed, but going to the client’s file on RAC showed the slips… but “not available at this time”. Tried again today…exactly the same result.
WTAF is with CRA? The Commissioner makes over $300K/year and can’t keep the agency running in any meaningful manner, and all the Pols are in knots over the election.
We don’t have a hope.
Complain to the media…it’s the only thing that seems to get any result at all, because communicating with CRA doesn’t seem to get anywhere.
Will others be checking AFR after tax season for the trailing slips? Or will you rely on clients to come to you with the missed slips? My fear is they won’t even know until they get that matching letter from CRA. And then it’s too late. So what to do?
Way more time. I’m a little over 30 returns behind last years pace. It has been rare I complete a file in one good, so constantly have to re-familiarize with a file when receiving new information is adding to the burden of spending more time manually entering slips, reviewing the work, asking the client questions, explaining how to access the missing forms. I’m shocked CRA hasn’t made the extension for all T1s considering the disruption they have caused.
I’m just expecting many reassessments. Clients will come back and ask “what happened?”. I’ll remind them I asked them about certain slips and unfortunately CRA didn’t upload the information and hope it will be better for next year.
: