Faster Receipts for ING Direct RRSP Contributions in the First 60 Days of the Year

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On Friday (January 17 2014) my husband decided to make a contribution into my spousal RRSP at ING Direct (now Tangerine.ca.) In just a couple of mouse clicks he was done and the contribution was starting to earn 2.5% interest until April 30 or I till get it transferred over to RBC DI and lose it all in the stock market  whichever comes first. Just after he completed the RRSP contribution, he noticed a new option for getting his receipt faster during this first 60 days of the year.

UPDATE: Please be aware that as of January 2015,

Tangerine has started charging a fee if you transfer your RRSP or TFSA from Tangerine to another bank, credit union, brokerage or financial institution.

Cool cool cool!

It’s always been pretty easy to get RRSP tax slips from Tangerine because you can print them online. This time, though, after contributing to my spousal RRSP online, my husband had the choice of printing a confirmation of the transaction or creating an e-receipt *immediately.*

How to Print Your ING Direct (Tangerine) RRSP or Spousal RRSP Tax Receipt Immediately During January and February

  1. First make your RRSP contribution by moving your money from your bank account to your RRSP investment.
    Choices include

    • a daily interest savings account,
    • GICs and
    • the Streetwise Funds.
  2. When you get to the “You’re done! Your confirmation number is ABC123 screen”
    Click on the button: Create e-Receipt
  3. The next window that opens will say:
    Please confirm your e-Receipt details below.
    This e-Receipt includes all RSP contributions for the first 60 days of the year that haven’t already been provided to you.
    Amount Contributed in First 60 Days XXX
    Annuitant’s SIN XXX
    Contributor’s SIN XXX
    Name of Contributor Super Cool Husband With a Heart of Gold (Your name may vary)
    Address XXX
    Name of Annuitant Very Happy Wife
    Plan Number XXX
    Your only choices, however, are to click on the Stop button or the Go button. There’s no way to edit the information online, you’d have to call Tangerine to report an error.
  4. To print the e-Receipt, click on the Go button.
  5. Your official RRSP contribution tax receipt will open in a new window.
    • Use the Print icon to print a paper copy.
    • Use the Save icon to keep a copy in a secure location such as on a disk.
    • When you’re finished, close your Confirmation window.
  6. Click on the Log me out link to sign out of your Tangerine accounts.
  7. For increased security, clear your browser cache and close your browser session.

How Did This New Option Work?

Unfortunately, it didn’t work! Instead it printed the contribution my husband made to my spousal account last week. Rats.

I’m not sure if that was the problem (that he had two contributions in the first 60 days of the year) or if something else went haywire. He didn’t have time to follow-up on the error with Tangerine, and unfortunately they can’t check into it based on my call because I’m not the contributing account holder.

How Long Did We Have to Wait to Get our RRSP Tax Receipt?

By Sunday, the first time he checked, the RRSP contribution tax slip was available online for printing under the Tax Receipts link. So my husband printed it off and added it to the increasing stack of tax documents we’ll need in a few weeks.

That’s still way faster than waiting for a bank to mail us a receipt at the beginning of March.

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Have you tried this new print e-Receipts now feature at Tangerine? Did your request go through smoothly? Please share your experiences with a comment.
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