2023 T5 error | Page 2 | Hubert Financial | Discussion forum

BarbM said
WOW. is Access ever screwed up??

So originally I received 2 T5's. 1 was incorrect as was not a joint....and all of our accounts are joint.

Just downloaded "All Slips" from CRA. The first 2 still show....an individual and a joint one (as originals). THEN the individual one shows for the SECOND time with the same amount!!!! (as an original) And the amended one shows but as an Original on CRA "All Slips" but says Amendment on the mailed copy.

So Mr. Davey and Rutherford let's go out for a beer and I will ask the folks at High Interest Savings as well. We can discuss your failures and compensation to all of your customers that have been inconvenienced and have had to pay for additional accountants fees. I'll buy if you show up. Do you contract out your T slips to the same company that does your conversions!!!????? You guys are compounding idiots!!!!

And so much for using or trusting Auto-Fill on YOUR behalf.  

What are the values in box 21 report code? if your slip #3 has a value 'C' for cancelled and slip# 4 has a value 'A' for amended then they are correct, otherwise they screwed up again.

Interesting how some T5 are incorrect for some people and some are in good order.
I have 21=A and 23=2 and correct names and correct amounts after receiving Amendments.
You would expect with all that computer power everything to be in order.
Similar situation with Public Mobile where some people have a real hard time with the service and payments while other have no issues at all.

Norman1 said
Could be an autofill bug in the tax software. Would it be possible to sign into CRA My Account and check the Box 21 (Report code) on the new slips? Should be "A" for amend or "C" for cancel.

Otherwise, CRA will think all of us missed reporting some interest!  

On login in of CRA I downloaded "all slips"
Box 21 is not there at all.

Not sure what you mean about an AutoFill bug on the software side.
What I am getting at, is the download from CRA of "all slips" shows the two originals, the amendment slip PLUS one of the 2 originals. So I am only assuming that the "all slips" I downloaded from CRA would also be what AutoFill would take??? Unless the software or CRA distinguishes what ones to take vs not take.
In other words CRA shows 2 original slips, an amended slip for the 2, PLUS one of the 2 original slips (so 1 is an exact duplicate).

I would also assume that the "Bug in the software" or likely "the mismanagement of the software" (garbage in - garbage out) is on the side of Access Cu for what they chose to upload to CRA.

BarbM said

On login in of CRA I downloaded "all slips"
Box 21 is not there at all.

…

In other words CRA shows 2 original slips, an amended slip for the 2, PLUS one of the 2 original slips (so 1 is an exact duplicate).

I would also assume that the "Bug in the software" or likely "the mismanagement of the software" (garbage in - garbage out) is on the side of Access Cu for what they chose to upload to CRA.

We need to see Box 21 (Report code) of the slips at CRA to tell.

I expect four slips at CRA if everything was done correctly: The two original slips, one amended slip for one of the originals, and one cancel slip for the other original.

The XML specification of uploaded T5 slips requires the report code to be present (field rpt_tcd). So, Access CU had to include it in the uploaded T5 slips.

There is a possibility that Access CU uploaded everything correctly to CRA and screwed up only by not printing and mailing you a copy of the cancel T5 slip.

BarbM said

Bottom line Access is a royal screw up, in many ways. And I don’t see it improving.

I have mailed my changes. Attempted 2 calls to CRA with huge waits. …

The codes are on my mailed slips but not on the downloads at CRA.

Yes, Access CU did screw up the migration of Hubert from Sunova's system to theirs.

One could pay CRA any extra taxes owing now and call CRA after the April 30 peak. Hopefully, what looks like a duplicate T5 slip at CRA is the cancel T5 slip and CRA won't needed anything else to accept your T1-ADJ request.

I also found that Access CU messed up the remaining two quarterly interest payments on a Hubert quarterly term that were made after the migration. Overpaid the interest on the first payment. Then, underpaid on the following payment to compensate!

Maturity value is materially correct (just 1¢ off expected). But, the interest rate of those two payments don't match the advertised rates.

Back to the T5 slips, still odd that the total interest is off on the original slips. I got the correct total interest by just adding up the monthly interest paid on my savings account in 2023 and the interest paid on my term deposits in 2023.

BarbM said

I have flagged every GIC that I have that pays interest annually or at maturity. So far all have paid out satisfactorily as per my excel tracking program.  

Can you share your excel tracking program or link to where you downloaded it, if applicable?

After reading about errors on T5 slips I called them yesterday to see if I would be receiving an amended one. After a few minutes on hold they confirmed my T5 slip was correct. My calculations show about $20 less in interest than T5 slip, but it makes no difference on my tax return balance so not an issue.

Hmm said

Can you share your excel tracking program or link to where you downloaded it, if applicable?  

Sorry, I am afraid not. I have personally custom developed it with codes etc that reflect the use of specific FIs with a GIC sheet for grouped GICs and also a self updating summary sheet. It works for GICS that collect interest annually or at maturity. It only worked for Hubert quarterlies based on keeping them for a year. The summary reports GICs at the matured value, by TFSA, RRIF, RRSP or non registered, by each spouse and a grand total. You can develop your own and should be able to easily find the excel formulas/equations/calculations online.

Jimmy said
After reading about errors on T5 slips I called them yesterday to see if I would be receiving an amended one. After a few minutes on hold they confirmed my T5 slip was correct. My calculations show about $20 less in interest than T5 slip, but it makes no difference on my tax return balance so not an issue.  

That's interesting. I added $20 in interest to my T5 as a test and the amount due was $6 more.

I received a revised T5 months ago and quickly re-filed my taxes. Four months later I’ve now found the T5 Amendment wasn’t filed with CRA.

Not sure how you get the T5 wrong and then don’t re-submit it to the CRA.

I’m told this is “unusual” and Hubert Financial is investigating even though it’s an Access Credit Union T5.