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  • Financial Statements from RBC

    I am wondering if anyone came across this issue in which I will loose huge amount.

    Me and my spouse came in to agreement that separation date should be Sept 2011 but RBC says that they keep all statements including investing and RRSP for 7 years only. That means I will have to consider separation date in 2014 in which I will loose lots of money when we divide pension up to 2014.

    Does anyone have come across this issue ? This is so frustrating to loose so much cash while not getting record statements.

    Please advice if you have come across this issue!

  • #2
    Do you not know what was in your accounts in 2011? Why didn’t you keep all your forms from 2011 when you separated? Banks don’t have to keep records past 7 years.

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    • #3
      Also if your date of separation was 2011, then equalization is statue barred anyway.

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      • #4
        Thank you Rockscan for the reply.
        I don't know what is in my account in 2011. I didn't keep the record assuming everything was resolved - however, apparently it wasn't and stbx claims it wasn't resolved. Banks do however, they charge 10$ per statement and RBC is becoming pain

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        • #5
          Kinso, I am not sure what you mean by barred away! Is it like equalization not gonna happen ?

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          • #6
            Originally posted by jsmith View Post
            Thank you Rockscan for the reply.
            I don't know what is in my account in 2011. I didn't keep the record assuming everything was resolved - however, apparently it wasn't and stbx claims it wasn't resolved. Banks do however, they charge 10$ per statement and RBC is becoming pain

            Ten bucks per statement versus losing thousands? This should be easy. Get the statement from 2011 and pay the money.


            Sent from my iPhone using Tapatalk

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            • #7
              True but RBC only keeps records for 7 years

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              • #8
                Did you not put together paperwork in the last ten years?

                If its investments, you should be able to calculate it yourself based on what your annual contributions were and the annual interest.

                If this is your investment and you have an idea on the amounts put in the last ten years, make an offer. If you are the one seeking equalization on an investment you can’t prove, make a reasonable offer and be done with it.

                Get a lawyer.

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                • #9
                  Is it like equalization not gonna happen ?
                  Exactly. The limitations period may have passed.

                  Get a lawyer.

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                  • #10
                    Originally posted by Kinso View Post
                    Exactly. The limitations period may have passed.

                    Get a lawyer.
                    I agree! GET A LAWYER!

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                    • #11
                      I believe the statute of limitations is 7 years. Meaning if you have a separation agreement from over 7 years ago and pensions have not been resolved… your ex-spouse cannot ask to split the pension now. This does not include CPP. So get a lawyer… fastly.

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                      • #12
                        It’s six years from the date of separation. Or two years from the date of divorce.

                        It is unlikely they have a separation agreement and are just thinking about this for the first time.

                        Pensions need to be properly valued - you cannot simply rely on statements. At least for defined benefits pensions.
                        Last edited by Kinso; 07-01-2021, 11:23 AM.

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                        • #13
                          Thank you all! I am getting lawyer! This is valuable information!

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                          • #14
                            My husband and his ex had a separation agreement that dealt with custody and child support. 4 years later they sold their home and split the profit without going through the courts. 4/years later he filed for divorce, after 8 years separated. She was not allowed to go after his pension due to statute of limitations.

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