7 April 1992 Administrative Letter 9209186 F - Repayment Of Return Of Pension Contributions

Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.

April 7, 1992

Client Assistance DirectorateFinancial Industries Division

Mrs. Pauline McNallyA/Director General

Repayment of Return of Pension Plan Contributions

We are forwarding the attached letter from 24(1) for your action.  We have advised 19(1) that if this repayment constituted a buy-back of past service while a contributor, the deduction is limited by paragraph 147.2(4)(c) of the Income Tax Act to $3500 per year less current service contributions and past service contributions while not a contributor.  If, however, the return of contributions was made in error, we understand that the Department can take an administrative position to permit a deduction for the full amount repaid in each year.  Mr. Rick Owen confirmed in a telephone conversation (Spice/Owen) of April 3, 1992, that your directorate has handled these cases before and suggested that we forward the attached letter.

Thank you for your assistance herein.

for DirectorFinancial Industries DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch