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    Posted by: Phil Barker
  • 14 years ago
    • Categories: Retirement

Transfer Funds To Your Annuity

If you are planning to transfer money for your annuity, remember that you need to get it filed well in advanced of December 31st.  In fact,  I suggest a deadline of November 10th to make sure the funds do actually get transferred.
Last year a client waited until mid December.  The T2033 transfer form was not received or lost by the bank and now she is trying to reverse a Canada Revenue ruling that the $120,000 is income for this year.
Posted by: Phil Barker: Phil is a leading expert in life annuities in Canada. His website Life Annuities.com is a recognized authority on annuities. Recently, he's been redefining how annuities are sold in Canada.
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