Interface Transaction Standards: Logical Record Types
Disclaimer: RDSP issuers
The information contained on this page is technical in nature and is intended for Registered Disability Savings Plan (RDSP), Canada Disability Savings Grant (grant) and Canada Disability Savings Bond (bond) issuers. For general information, visit the RDSP section.
Consult this page frequently for newer versions. The following laws and regulations take precedence over information contained in InfoCapsules in the event of discrepancies:
- Income Tax Act
- Canada Disability Savings Act
- Canada Disability Savings Regulations
3.0 Logical Record Types
The following is a description of the logical record types that will be used for the administration of the CDSP system. The detailed format is outlined in the Transaction Formats section of this document.
3.1 Contract Registration Transaction
3.1.1 Record Type "101", Transaction Types "01", "02", "03" – Contract Registration Information
Financial institutions must submit a contract registration information transaction (record type 101) in order to establish a contract in the CDSP system and to provide the required elements to register the contract with the CRA. The CDSP system will validate the information provided and assign a registration "status" to the submission. The record will contain three separate components that include contract information (transaction type 01), information on the beneficiary (transaction type 02), and information on one or more holders (transaction type 03). Please note that information about a primary caregiver (PCG) must be included in the contract information component (transaction type 01) when the beneficiary is under the age of 18.
New contracts involving the transfer of funds from an existing contract must be reported in the contract information component (transaction type 01) with the specimen plan and contract number of the relinquishing contract and the transfer indicator set to "Y" (Yes).
NOTE: A contract must achieve a status of “registered” prior to the payment of any grant or bond in an RDSP. When re-submitting contracts which are not initially registered, the contract registration information transactions must be submitted as a whole (all three (3) components) until registration is obtained.
3.2 Contract Update Transactions
3.2.1 Record Type "102", Transaction Type "10" – Close Contract
This record is used to report that an RDSP contract has been closed. A plan could close following the death of a beneficiary, after a transfer of all assets to another contract, after a plan has been de-registered by CRA, following the loss of Disability Tax Credit (DTC) eligibility or because of other circumstances allowed by RDSP legislation. The close contract transaction should only be submitted when all assets held under that particular contract have been disbursed.
3.2.2 Record Type "102", Transaction Type "11" – Rename Contract
Once a contract registration information transaction has been submitted and the contract established in the CDSP system, the issuer may wish to change the contract number or identifier. This transaction will be used to update that information. This record will be useful during specific events such as a takeover or merger where an issuer acquires contracts from another issuer and then must rename the acquired contracts.
3.3 Beneficiary and Holder Update Transactions
3.3.1 Record Type "201", Transaction Type "02" - Update Beneficiary
This transaction is used to update beneficiary tombstone information. During the life of a contract, there may be information such as a name or address that needs to be brought up to date about a beneficiary. An update beneficiary transaction cannot be submitted until a contract for that particular beneficiary has achieved a status of "registered".
3.3.2 Record Type "201", Transaction Type "03" - Update Holder
This transaction is used to update holder tombstone information. During the life of a contract, there may be information such as a name or address that needs be brought up to date about a holder. An update holder transaction cannot be submitted until a contract that includes the particular holder information has achieved a status of "registered".
3.3.3 Record Type "201", Transaction Type "13" - Add a Holder to a Contract
At any given time during the life of an RDSP there could be more than one holder named to the contract. The add Holder record is used when an additional holder is named to a contract. Only the issuer that owns the contract can submit an add Holder record for that contract. This record may also be used in conjunction with a “remove Holder” record, when changing a holder.
3.3.4 Record Type "201", Transaction Type "23" - Remove Holder
During the life of an RDSP there could be the requirement to remove a holder of a plan. This record will be used to report that a particular holder is no longer associated with that contract. Only the issuer that administers the contract can submit a remove Holder transaction for that contract.
3.4 Consent Transactions
With the introduction of the Carry Forward measures in Budget 2010, RDSP contracts may now attract grant and/or bond for the current year plus the ten (10) previous years. Entitlements may be paid dating back to the later of the implementation of the RDSP in 2008 and the beneficiary's year of birth.
The holder and PCG information provided within the contract, holder and financial transactions is used in order to determine DTC eligibility, Canadian residency and family income for the beneficiary. Authorized agents may request that the personal information of additional PCGs be used for the same purpose by submitting consent transactions.
3.4.1 Record Type "202", Transaction Type "01" – Add Consent
The "Add Consent" record type is used to add or update yearly PCG data which provides consent for the information to be used to determine DTC eligibility, Canadian residency and family income for the beneficiary.
3.4.2 Record Type "202", Transaction Type "02" – Revoke Consent
The "Revoke Consent" transaction is utilized to cancel consent previously granted by a PCG or former holder. A current holder must first be removed from the RDSP contract before consent can be revoked.
3.5 Financial Transactions
To ensure the proper payment of the grant and bond, authorized agents must report to the CDSP system all financial transactions for a beneficiary utilizing record type "401". Financial transactions include all movements of funds in and out of an RDSP, but not the growth or investment activities (these amounts are to be reported using record type "701" – Reporting Information). The CDSP system will determine eligibility and the amount of grant and/or bond payment using the information provided in the request transactions. Payments of grant and/or bond will only be made to contracts that have achieved "registered" status. The following transactions can be submitted:
- Contributions and/or Request for Grant
- Contributions and/or Request for Grant Corrections
- Retirement Savings Rollovers
- Retirement Savings Rollover Reversals
- Bond Requests
- Grant and/or Bond Repayments including Termination Adjustments
- Grant and/or Bond Repayment Reversals
- LDAP Reversals
- DAP Reversals
- Education Savings Rollovers
- Education Savings Rollover Reversals
NOTE: System implementation dates for each of the defined financial transactions above are listed in the Transaction Formats section of this document.
3.5.1 Record Type "401", Contribution and/or Grant Request Transaction Types
- "01" – Contribution and/or Grant Request
- "02" – Contribution and/or Grant Request Correction
Authorized agents must provide the details of all contributions made to an RDSP even when grant has not been requested. The record type 401 - transaction type 01 – "Contribution and/or Grant Request" is used to do so. Please note that for every contribution that is reported for a beneficiary under age 18, the PCG information or the BN of the responsible agency for a child in care at the time of the contribution must be reported on the transaction. When the contribution and request for grant transaction is processed, the CDSP system will record all contributions in the beneficiary’s records and update all contribution and grant limits accordingly.
The record type 401 - transaction type 02 - "Contribution and/or Grant Request Correction" is utilized by the authorized agent to correct a previously submitted and successfully processed contribution. Issuers submit the 401-02 under the following circumstances:
- Correcting a contribution amount
- Correcting PCG information
- Requesting grant on a contribution transaction where grant was not originally requested.
3.5.2 Record Type "401", Bond Payment Transaction Types
- "05" – Bond Payment Request
- "06" – Stop Bond Payment Request
To request payment of the bond, authorized agents must provide the CDSP system with a transaction type 05 – "Bond Payment Request". These transactions will be processed and accounts will be updated for all eligible beneficiaries.
NOTE: All bond requests for a beneficiary under the age of 18, PCG information or the BN of the responsible agency for a child in care must be reported on the transaction.
The bond, once paid, will continue to be paid automatically in subsequent years if the beneficiary remains eligible. If a holder no longer wishes to receive the bond, authorized agents must provide the CDSP system with a transaction type 06 – "Stop Bond Payment Request". This will prevent any further payments of the bond from being made in respect of that beneficiary and to that specified contract. If the holder wishes to receive the bond in the future, a new transaction type 05 – "Bond Payment Request" will result in resumption of bond payments from the date of new request. In other words, if the "Stop Bond Payment" option was chosen in a previous year, and a new “Bond Payment Request” was submitted in a subsequent year, the bond payment will be resumed as of the transaction date of the new request for the current year and subsequent years in accordance with bond eligibility rules.
3.5.3 Record Type "401" Retirement Savings Rollover and Retirement Savings Rollover Reversal Transaction Types
- "08" – Retirement Savings Rollover Transaction
- "09" – Retirement Savings Rollover Reversal Transaction
Introduced in Budget 2010, to give parents and grandparents more flexibility in providing for a disabled child's long-term financial security, an Retirement Savings Rollover (transaction type 08) allows certain amounts from a deceased individual's Registered Retirement Savings Plan, Registered Retirement Income Fund, Registered Pension Plan, Specified Pension Plan and Pooled Registered Pension Plan to be transferred to the RDSP of a beneficiary who was financially dependent on the deceased because of physical or mental infirmity.
The amount transferred (rolled over) does not attract incentives and, like a regular contribution and Education Savings rollover, decreases the beneficiary's lifetime contribution room, currently set at $200,000. The amount rolled over, when added to contributions made in the name of the beneficiary, is not be permitted to exceed the $200,000 lifetime limit.
Should an authorized agent discover that a Retirement Savings Rollover was processed in error, a Retirement Savings Rollover Reversal (transaction type 09) must be submitted to the CDSP system in order to reverse the original Retirement Savings Rollover transaction.
3.5.4 Record Type "401", Grant and/or Bond Repayment Transaction Type
- "10" - Grant and/or Bond Repayment Request
- "11" – Grant and/or Bond Repayment Reversal Request
When a repayment of grant and/or bond paid by the Program to a beneficiary is required, authorized agents must provide the CDSP system with a transaction type 10 - "Grant and/or Bond Repayment Request". This transaction is also utilized to report any termination adjustment (investment loss) of grant and/or bond.
Should an authorized agent discover that a repayment of grant and/or bond was processed in error, a transaction type 11 - "Grant and/or Bond Repayment Reversal" must be submitted to the CDSP system.
3.5.5 Record Type "401", DAP and LDAP Transaction Types
- "20" – DAP Transaction
- "21" – LDAP Transaction
- "22" – DAP Reversal Transaction
- "23" – LDAP Reversal Transaction
An ad-hoc payment (DAP) made to a beneficiary must be reported by the authorized agent employing a transaction type 20 – "DAP Transaction". This transaction requires the reporting of the proportional amounts of contribution, grant and bond, the non-taxable amount of DAP and total amount of DAP paid to the beneficiary.
LDAPs are recurring (at least annually) payments that, once started, must be paid until either the plan is terminated or the beneficiary has died. LDAPs may begin at any age but must commence by the end of the year in which the beneficiary turns 60. A transaction type 21 – "LDAP Transaction", requiring the same type of information as detailed above in the DAP transaction (RT 401-20), must be reported for this type of payment. Should an authorized agent discover that a DAP or LDAP transaction was processed in error, a transaction type 22 - “DAP Reversal” or transaction type 23 - “LDAP Reversal” must be submitted to the CDSP system.
3.5.6 Record Type “401”, Education Savings Rollover and Education Savings Rollover Reversal Transaction Types
- “30” – Education Savings Rollover Transaction
- “31” – Education Savings Rollover Reversal Transaction
The rollover of RESP investment income into an RDSP on a tax-free basis offers an additional option to parents who save in an RESP for a child with a severe disability, if the plans share a common beneficiary. As indicated in Budget 2012, this type of rollover is available for beneficiaries with a severe and prolonged mental impairment that is expected to prevent them from pursuing post-secondary education. The amount transferred (rolled over, transaction type 30) does not attract incentives and, like a regular contribution and Retirement Savings rollover, decreases the beneficiary’s lifetime contribution room, currently set at $200,000.
Should an authorized agent discover that an Education Savings Rollover was processed in error, an Education Savings Rollover Reversal (transaction type 31) must be submitted to the CDSP system in order to reverse the original Education Savings Rollover transaction.
3.6 Election Transactions
3.6.1 Record Type "501", Transaction Types "01" Episodic DTC Election and "02" Episodic DTC Election Reversal
An RDSP must normally be terminated by the end of the year following the loss of DTC eligibility. The 10 year repayment (AHA) rules apply and the remaining assets must be paid to the beneficiary in this circumstance. Budget 2012 adds a provision to extend the period the RDSP may remain open where medical conditions are such that a beneficiary who becomes DTC ineligible might be eligible again in a later year. In order to take advantage of this provision, an Episodic DTC Election transaction must be submitted to the CDSP system. Should the authorized agent discover that a DTC Election transaction was processed in error, a transaction type 02- “Episodic DTC Election Reversal” must be submitted to the CDSP system.
3.6.2 Record Type “501”, Transaction Types “03” SDSP Election and “04” SDSP Election Reversal
Announced in Budget 2011, SDSP elections provide increased flexibility to withdrawals of assets in respect of a beneficiary with a life expectancy of five years or less, as they do not require the repayment of grant and bond paid into the plan in the preceding 10 years. Once an election is made and reported to the CDSP system, a total of $10,000 of taxable assets or higher amount based on a legislative formula can be withdrawn annually. Further to an election, no additional grant and bond are to be paid into the SDSP.
The start of the Election is recorded as the date the Election information is received by the CDSP system. Should the authorized agent discover that an SDSP Election transaction was processed in error, a transaction type 04 – “SDSP Election Reversal” must be submitted to the CDSP system.
3.7 Reporting Transactions
At the beginning of each month, authorized agents are required to report various growth and investment activities by contract to the CDSP system. These activities are conveyed using record type 701 – Reporting Information. The following transactions must be submitted.
- Monthly Reporting of FMV.
- Reporting of FMV and Earnings when transferring a contract.
3.7.1 Record Type “701”, Reporting Transaction Types
- “01” – Monthly Reporting of FMV
- “02” – Transfer Reporting of FMV and Earnings
Every month, authorized agents are required to submit a record type 701–01 “Monthly Reporting of FMV” transaction to report the FMV for each contract.
When a contract has been closed due to a transfer of funds to a new contract, it is the responsibility of the relinquishing authorized agent to report specific required data elements of the contract to the to the CDSP system by employing the record type 701–02 “Transfer Reporting” transaction. In addition to reporting the same data as in the transaction type – 01, the earnings of the transfer out contract must also be reported.
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