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Email this10:32 am
January 25, 2024
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1. Cannot log in. Got to the point to after entering password, site is not responding at all. Got a message: 'stream timeout'.
2. Received T5s. MASSIVE screw up!!! Few bucks reported but not interest from GICs. Last year T5 had GIC amounts (incorrect, complained, received correct one eventually). I am wondering should I play stupid and report only amounts from received T5s? I guess not if I do not want to pay fine and interest to CRA.
3. I was getting message: 'blah, blah, blah, Vendor is working diligently, blah, blah, blah'. Every time I hear word 'vendor' I know company has NO loyal, dedicated and knowledgeable staff to do the proper work but everything is outsourced to some idiots who have no idea what they are doing but are charging arm and leg for their 'work'. WHAT A SHAME, HUBERT!
3a. 5 min later...
Now entering user ID I get this:
'The credentials entered for the authentication code or username/password are invalid. Please try again. If you have forgotten your password, you can reset it by selecting “Forgot Password?”. If you require assistance, call 1.800.264.2926'
Even though I am loyal Huber's customer I now have to think Very Hard should I continue to be.
11:06 am
April 14, 2021
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I experienced similar LogIn issues. I believe that they occurred due to Hub changes in password protocols.
Currently, I think that their password has requirement of 10 characters. Previously, I had a password of only 8 char length. There was no notification of any change or request to update my PW. I simply could not get into the system. I finally called CSR and was told to follow the 'forgot PW/re-set' procedure. I re-set my PW to something new (to comply with longer PW requirement) and was granted access upon new Log-In attempt.
CSR said that I 'should' have been able to log onto system with old PW, since it was supposed to be grand-fathered (allow access, but demand immediate PW update). However, I know that, as soon as I re-set to longer PW, I was immediately able to get into the system. Hope that this helps.
11:23 am
August 8, 2022
Offline
Monday March 3/25, 2.18pm
"BANNER
Online and mobile banking is experiencing a network outage. As a result, rates displayed on this website are not in sync within our system. The vendor is working diligently to restore service. We will update as soon as the problem is resolved. Thank you for your patience.
Access Credit Union - Service Status"
(Telephone service is a little busier, with reasonable callback time.)
12:49 pm
December 18, 2024
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Should be added to other thread? Re T5’s.
2:11 pm
January 3, 2009
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CAD said
I am wondering should I play stupid and report only amounts from received T5s? I guess not if I do not want to pay fine and interest to CRA.
At the end of the day the CRA will hold you 100% responsible regardless of who is responsible. You are guilty until proven innocent.
2:33 pm
April 14, 2021
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CAD said
I am wondering should I play stupid and report only amounts from received T5s? I guess not if I do not want to pay fine and interest to CRA.
Or, log into your CRA account and find out what amounts were actually reported to CRA from Hubert. If CRA values are lower, just use them.
3:10 pm
April 6, 2013
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One should report the correct interest received in 2024. If the T5 slip is short, report the extra as interest received that is not on a T5 slip.
Some financial institutions will issue separate T5 slips for each account and not one slip for all one's accounts. That wasn't the case with my T5 slip for Hubert which had the interest combined for both savings account and term deposits.
5:05 pm
December 7, 2011
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I always report interest actually received, that I calculated myself.
When all T5 will arrive, I will confirm amounts and take action, if something needs to be corrected.
And, in July, I always check CRA T5 records, because sometimes they will have different information.
About Hubert. Yes, old Hubert CRS told me recently, that very soon Hubert will NOT exist. They know better, they are there, in Manitoba. CRS explain to me: "... nothing stays forever, everything changing ...". Let see, how long it will take.
7:15 pm
December 18, 2024
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Winnie said
About Hubert. Yes, old Hubert CRS told me recently, that very soon Hubert will NOT exist. They know better, they are there, in Manitoba. CRS explain to me: "... nothing stays forever, everything changing ...". Let see, how long it will take.
If that is the case, I would like to see any combination of:
1. No fee for transferring out registered funds grandfathered to old money.
2. Allow registered fund GICS to be collapsed with interest to date and no fee for transferring out registered funds.
I’ll gladly leave.
4:58 am
March 30, 2017
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I just wait till end of April to file, and report what CRA receives by then.
Any differences will be small and deem insignificant by CRA and myself, whether over or under.
10:54 am
September 11, 2013
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That's what I do too, wait until near end of April, check CRA My Account to make sure nothing they have is wrong and then file what CRA computer is expecting, works fine.
11:03 am
December 18, 2024
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Bill said
That's what I do too, wait until near end of April, check CRA My Account to make sure nothing they have is wrong and then file what CRA computer is expecting, works fine.
Good idea for sure. I tend to do mine by end of March but this year will extend towards end of April.
But….Hubert T5’s last year for 2023 were received when? and the letter of advisement when?
11:14 am
December 18, 2024
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Winnie said
I always report interest actually received, that I calculated myself.When all T5 will arrive, I will confirm amounts and take action, if something needs to be corrected.
T5 interest income can be based on interest accrued through out the year but not yet paid out. How you calculate that?
11:51 am
January 25, 2024
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GIC-Fanatic said
T5 interest income can be based on interest accrued through out the year but not yet paid out. How you calculate that?
As long as interest is NOT paid you have nothing to report.
12:28 pm
February 20, 2022
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GIC-Fanatic said
T5 interest income can be based on interest accrued through out the year but not yet paid out. How you calculate that?
Only interest paid is reported on T5. However be aware that 'paid' includes the interest that is paid (into the GIC balance) AND still compounding within the GIC - including every quarter of the Quarterly GIC.
12:45 pm
December 7, 2011
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CAD said
As long as interest is NOT paid you have nothing to report.
I completely agree.
12:56 pm
October 27, 2013
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That is not true. T5s are supposed to include accrued interest on compound multi-year GICs based on anniversary date. If the T5 does not include those amounts, the FI is breaking the law.
The ITA specifically requires accrued interest to be declared and reported based on the anniversary date of the GIC. As an example, a 3 year compound GIC bought in July 2024 would have reportable interest as of July 2025 on the 2025 tax return, again in 2026 on the 2026 tax return and again in 2027 on the 2027 tax return.
See https://www.rcgt.com/en/tax-planning-guide/sections/section-07-investments/interest-income/ for more reinforcement on the concept.
3:39 pm
January 25, 2024
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AltaRed said
That is not true. T5s are supposed to include accrued interest on compound multi-year GICs based on anniversary date. If the T5 does not include those amounts, the FI is breaking the law.
Let put it differently: if money is not ADDED to the principal, there is nothing to report.
Having 5 years non-redeemable GIC with interest paid AT THE END of period - nothing to report for years 1-4. When you GET all interest then you pay the taxman.
BUT if 5 years non-redeemable GIC has an option to ADD interests to principal after every anniversary - most likely you HAVE to declare it as income even though it is still locked until the end.
3:45 pm
January 25, 2024
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CAD said
2. Received T5s. MASSIVE screw up!!! Few bucks reported but not interest from GICs. Last year T5 had GIC amounts (incorrect, complained, received correct one eventually). I am wondering should I play stupid and report only amounts from received T5s? I guess not if I do not want to pay fine and interest to CRA
As for my initial note, I was a little bit quick to post. Do not know exact saying in English when your tongue (fingers) are faster than actual events.
I received all T5 from Hubert within two separate days and they are accurate to the cent. For some strange reason I have received 3 separate T5 for my 5 GIC+HISA accounts instead of one as last year.
I wish software running this forum had an option to either delete post(s) or modify them (after a day or two).
7:28 pm
April 6, 2013
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CAD said
Let put it differently: if money is not ADDED to the principal, there is nothing to report.
Having 5 years non-redeemable GIC with interest paid AT THE END of period - nothing to report for years 1-4. When you GET all interest then you pay the taxman.
…
Not true. Interest needs to be reported at least every three years or annually regardless. Interest must be reported at least annually for recently acquired GIC's, bonds, and strip bonds:
When do you have to prepare a T5 slip
…
For investment contracts acquired before 1990, you have to report accrued interest every three years, unless the recipient has elected to report annually. This calculation is based on the calendar year. …
For investment contracts acquired after 1989, you have to report accrued interest every year. Base this calculation on the date the investment contract was issued. …
Ability to buy a ten-year strip bond and defer taxes on the interest until maturity has been gone since 1983. See IT-396R.
Please write your comments in the forum.