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Email this6:58 pm
May 15, 2007
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I just received a letter in the mail from Access Credit Union about my Hubert Financial account. It's dated March 26, and says that they overstated the amount on my T5 by $20 and will be issuing an amended T5 soon.
Perhaps I shouldn't have filed my tax return already!
8:13 pm
April 6, 2013
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Last week, I noticed that the interest reported my T5 for Hubert did not agree with my records. The reported interest was a few dollars too high!
I was going to check my monthly statements again.
8:23 pm
April 14, 2021
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I received the same notification letter. Awaiting the amended T5.
11:39 pm
January 7, 2023
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I also received the letter today but it is for a different error. I have received a T5 for my joint accounts and another T5 in my name only, however, the amount on the T5 in my name only are also from joint GICs. This letter tells me that I will be getting an amended slip within the next 10 business days. I am not impressed as I may not have the correct slip until April 24th which is less than a week from the tax deadline.
This error was already reported by another member on April 1 under this topic:
https://www.highinterestsavings.ca/forum/hubert-financial/integration-weekend-sep-22-24-weve-been-warned/page-39/
Clearly there are multiple issues with Access/Hubert T5 reporting.
3:33 am
February 7, 2019
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Warwick111 said
I also received the letter today but it is for a different error. I have received a T5 for my joint accounts and another T5 in my name only, however, the amount on the T5 in my name only are also from joint GICs. This letter tells me that I will be getting an amended slip within the next 10 business days. I am not impressed as I may not have the correct slip until April 24th which is less than a week from the tax deadline.
This error was already reported by another member on April 1 under this topic:
https://www.highinterestsavings.ca/forum/hubert-financial/integration-weekend-sep-22-24-weve-been-warned/page-39/Clearly there are multiple issues with Access/Hubert T5 reporting.
Hubert T5's are very late coming and then they're wrong and I had just filed. Fortunately, the amount is small and the small tax savings doesn't justify the hassle of re-filing; at least for me ...
| CGO |
4:46 am
September 7, 2018
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I also received my Access/Hubert T5 really late (came end of March and not by end of February) and today I get the letter that the T5 was wrong and I will be getting a revised T5. I have not even attempted to reconcile the T5 interest amount to the Statements which are not user friendly particularly after the transition. My experience with the new Access/Hubert has been most disappointing to put it mildly but I am completely out of there now - except for the $5 membership which is "apparently" there even though it does not display when one signs in. Bizarre!
7:57 am
January 25, 2024
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Same here. Same letter.
Letter shows correct T5 amounts and note I can use those amounts when filing taxes as correct T5 will be sent within next 10 business days.
This is an error I reported in this forum few weeks ago.
New amounts provided in a letter match to the cent what I expected from my records and what I reported to Hubert.
Even it takes some time it is always advisable to keep YOUR own records for every transaction, interest, gic, etc.
1:14 pm
March 12, 2016
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I, too, received a letter stating that the reported interest income on my T5 was overstated by $100. I love how the letter indicates that I should use the amended numbers when filing. Thanks tips! As if I hadn't filed a month ago! When I made the adjustment in TurboTax, it showed that I should have received $30 more in refund. I want my money, but I'm not sure if it's worth the hassle. The bigger question being how am I supposed to trust a financial institution that makes these types of errors.
1:22 pm
December 12, 2009
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Peter said
I just received a letter in the mail from Access Credit Union about my Hubert Financial account. It's dated March 26, and says that they overstated the amount on my T5 by $20 and will be issuing an amended T5 soon.Perhaps I shouldn't have filed my tax return already!
I received the same notification letter. My amount was under-reported by about $5-6, apparently. It was $192.78 and should've been about $198.62. I haven't double-checked the calculations, but suspect they may have forgotten to include my share dividends. 🙂
Cheers,
Doug
7:24 am
December 20, 2016
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4n2t0 said
....... The bigger question being how am I supposed to trust a financial institution (Access CU / Hubert )that makes these types of errors.
Precisely! Following the litany of debacles we have witnessed since Access CU overtook what was a well run and reliable CU's, I, like many on this Forum, have withdrawn all my deposits from Hubert, with little or no desire to deal with them again under the present administrative mismanagement.
Stephen
10:16 am
January 12, 2019
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.
- What Stephen & 4n2t0 said ⬆
- Dean
" Live Long, Healthy ... And Prosper! "
8:14 am
January 4, 2015
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Interesting. For 2022 taxes my Hubert T5 didn't appear in my CRA account until months after its due date.
9:31 pm
January 7, 2023
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Warwick111 said
I also received the letter today but it is for a different error. I have received a T5 for my joint accounts and another T5 in my name only, however, the amount on the T5 in my name only are also from joint GICs. This letter tells me that I will be getting an amended slip within the next 10 business days. I am not impressed as I may not have the correct slip until April 24th which is less than a week from the tax deadline.
This error was already reported by another member on April 1 under this topic:
https://www.highinterestsavings.ca/forum/hubert-financial/integration-weekend-sep-22-24-weve-been-warned/page-39/Clearly there are multiple issues with Access/Hubert T5 reporting.
Today I received the amended T5 slip. The amount is correct and the slip shows the names of the joint owners but in box 23 the recipient type is a '1' which is a contradiction. They got it wrong the first time, and the amended slip is still wrong. I have given up and will not be asking for an amendment. I figure it will be easier to explain to the CRA than to explain to Access/Hubert.
I will move my money out when my GICs mature.
10:26 am
April 17, 2024
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I'm infuriated with Hubert. They are a comedy of ongoing and never ending errors and continually aggravating to deal with. Patronizing with them will cease ASAP.
I received 2 T5s. One as joint and one in my name only.
I contacted them of the error in regards to the one, in my name only on February 26. On February 27 was advised that the issue would be passed to the Registered Plans department. And that I would hear back from them the next day. Never happened.
I submitted my taxes based on the T slips, even though all of our non registered accounts are joint.
Yesterday April 16, I received a letter advising that the 2 slips I received would be amended to 1 slip, with both names, and the amount would be the total of the 2 previous ones.
Once I see the new one, hopefully, it’s correct. I will then call CRA for guidance on how to correct.
7:31 am
April 6, 2013
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The procedure described by CRA to consolidate the two slips would be to issue two new slips, one with "AMENDED" and the other with "CANCELLED" at the top.
I think it would be simpler to just amend the one slip that's wrong instead of consolidating the two slips.
Warwick111 said
… The amount is correct and the slip shows the names of the joint owners but in box 23 the recipient type is a '1' which is a contradiction. They got it wrong the first time, and the amended slip is still wrong. I have given up and will not be asking for an amendment. I figure it will be easier to explain to the CRA than to explain to Access/Hubert.
I will move my money out when my GICs mature.
Unfortunately, CRA will rely on what are on the slips.
Looks like Access CU had fixed the missing second name on T5 slips for joint accounts. But, didn't also fix the incorrect recipient type in Box 23.
9:14 am
April 6, 2013
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Received amended T5 slip from Hubert.
Interest from Canadian sources (Box 13) is now correct. Report code (Box 21) is "A" for amended.
Minor error though with Box 27 (Foreign currency) filled in with "CAD". Box 27 should be left blank when reported amounts are in Canadian dollars.
10:39 am
January 7, 2023
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Norman1 said
The procedure described by CRA to consolidate the two slips would be to issue two new slips, one with "AMENDED" and the other with "CANCELLED" at the top.I think it would be simpler to just amend the one slip that's wrong instead of consolidating the two slips.
Warwick111 said
… The amount is correct and the slip shows the names of the joint owners but in box 23 the recipient type is a '1' which is a contradiction. They got it wrong the first time, and the amended slip is still wrong. I have given up and will not be asking for an amendment. I figure it will be easier to explain to the CRA than to explain to Access/Hubert.
I will move my money out when my GICs mature.Unfortunately, CRA will rely on what are on the slips.
Looks like Access CU had fixed the missing second name on T5 slips for joint accounts. But, didn't also fix the incorrect recipient type in Box 23.
Good point, Norman1! I received only the one amended, consolidated T5 slip. I will need another amended 'cancelled' slip otherwise CRA will go after me for under reporting/tax evasion.
Looks like I will have to call Hubert again. Can they do anything right? 
12:09 pm
April 17, 2024
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Since the total of my 2 original slips reflects the same on my amended slip, it would have made more sense to reissue the one incorrect ONE only.
So now. Do I cancel both? Cancel 1 and send the amended one against what?
Would you think that access would have verified the best way to do it for them and the customer???????
I called CRA yesterday and was 1 - 1.5 hour wait. And call back was disabled.
Thanks Access, you $&$*( ‘s.
4:03 pm
April 6, 2013
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I would ask Access CU to issue a cancel T5 slip just for the non-joint T5 slip.
The four slips together would then make sense:
- Original non-joint T5 slip cancelled by a subsequent cancel T5 slip.
- Original joint T5 slip amended by a subsequent amend T5 slip to the correct total interest of the joint accounts.
6:12 pm
April 17, 2024
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Based on my call months ago, with promise of a reply and no reply, I am finding Hubert to be much less customer friendly or helpful. So I have a huge loss of faith by calling them.
CRA was a 3 hour wait today.
I am going here https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1-adj.html
Will adjust line 12100 on my return and spouses return and will "Mail" it in. Numbers are the same but will be a bit of difference on the 50/50 split. I doubt if I will have to pay more or get a refund. I will also include an explanation of 2 original slips vs ONE amending one.
Please write your comments in the forum.