When pension split happens on T1, I know we need both transferring and receiving the transfer clients to sign the T1032. Confusion is if we need to print T1032 from both spouse’s return and get them both to sign on each form or we can print T1032 for any one taxpayer and get them both to sign the form?
The form from the one transferring the pension income is the only one that needs signing
Thank you for the clarification.
I beg to differ. From experience with CRA both copies need to be signed. I have been audited in the past and only sent in the one copy from the one doing the transferring and CRA said both need to be signed. So ever since I have had both copies signed.
I agree. I have been audited and had one that we could not find for a spouse (out of 25 reviewed) and CRA said both were required. We have always requested both be signed.
That’s why there are two signature lines.
I also getting both taxpayer 1032 signed by both, sometime I think maybe I was doing some extra. Thanks everyone for your input.
If I understand the above comments:
On audit, CRA requested the T1032 for both spouses.
For the husband, the accountant electronically sent in T1032 with both husband and wife’s signatures.
For the wife, the accountant electronically sent in the same T1032 with both signatures.
CRA rejected the second T1032.
The form says that it is a “Joint Election,” and that “only one Joint Election can be made.”
I’m not sure why CRA would have a problem with only one form, if it had both signatures.
I think you only need two signed copies if you’re mailing the T1’s.