Your Guide to Nexus Tax Documents

Registered Retirement Savings Plans (RRSPs)

RRSP Contribution Receipts

If you made an RRSP contribution, you will receive a receipt for that amount. One receipt is issued for contributions made between March and December of the tax year. A second, separate receipt is issued for contributions made between January and February of the current year, which can be deducted against the previous year.

T4RSP – RRSP Withdrawal Slip

If you made a withdrawal from your RRSP during the year, you will receive a T4RSP slip. This slip shows the total taxable withdrawal and any withholding taxes remitted to the Canada Revenue Agency (CRA).

Retirement Income Funds (RRIFs, LIFs, LRIFs)

T4RIF / T4LIF – Retirement Income Payments

If you have a RRIF/LIF/LRIF account, you will receive a T4RIF/LIF slip. This slip shows the amount of the total taxable withdrawal  and any withholding taxes remitted to the Canada Revenue Agency (CRA).

First Home Savings Account (FHSA)

T4FHSA – FHSA Contributions and Withdrawals

If you have an FHSA account, you will receive a T4FHSA. This slip shows the amounts of any contributions or withdrawals you have made, as well as any transfers from or to an RRSP account.

Tax-Free Savings Accounts (TFSAs)

No Tax Slips Issued

If you have a TFSA account, you do not receive any tax slips for contributions, withdrawals or income as these accounts are exempt from tax.

Non-Registered Accounts – Nexus Pooled Funds

T3 Slip – Investment Income

If you have a non-registered account, you will receive a T3 slip that reports the income for all Pooled Funds held in that account.

December 31 RBC Investor Services Statement – Additional Tax Information

The last page of your December RBC statement reports two amounts to include in your taxes.

Capital gains/(losses) from the redemption of units:

The T3 slips do not include any capital gains (or losses) that you may have incurred from withdrawals related to cashflow requirements or fees. These are reported under the Fund Sales and Capital Gains or Losses section.

Tax deductible fees:

These are the cumulative management fees paid for the year related to this account and are reported under the Fee Summary section.

Here is a snapshot of what these sections look like on your RBC statement.

T1135 – Foreign Reporting

There are no T1135 slips issued for our Nexus Pooled Funds as these accounts are Canadian domiciled pooled fund trusts and as such you have no direct foreign holdings.

Non-Registered Segregated Accounts

Comprehensive Tax Package and T5 Slips

You will receive a detailed tax package that will summarize the various account transactions over the year. It will include two sections, one for investments denominated in Canadian dollars and one section denominated in U.S. dollars. Each section will include a T5 slip reporting dividend and interest income. Each section also includes realized capital gains within the account transaction details. Only the Canadian dollar section includes your tax deductible investment management and custody fees.

T1135 – Foreign Property Reporting

You will receive a T1135 slip, a foreign property report detailing assets you hold outside of Canada, including non-Canadian stocks. This report allows you to complete the required declaration on your tax return.

T3 Slips – Trust Income

If you hold any Nexus Pooled Funds in your account, you will receive a T3 slip that reports the income for all Pooled Funds held in that account. You will also receive a separate T3 slip reporting the income for any Income Trusts or Real Estate Investment Trusts (REITs) that are held in your account.

T5013 – Partnership Income

You will receive a T5013 slip on limited partnership distributions as some of your investments are legally organized as partnerships, and this slip reports income not included on your other tax slips.

Tax Reporting Mailing Schedule

In addition to the above tax slip list, we have outlined what our clients can expect to receive, and when you will receive it. Our mailing schedule contains a list of the various tax slips and related documents that the custodian will be sending directly to you. View it below or download it here.