Form T2151

What Is a T2151 Form?

The T2151 transfer form of a single amount under the Subsection form is used to request the direct transfer of a single amount from one financial institution to another. This form is used when the amount to be transferred less than $10,000. CRA T2151 form is used for transfers between banks, credit unions, and other financial institutions. 

What Is the T2151 form used for?

The tax form is used by the Canada Revenue Agency (CRA) to request a direct transfer of a single amount from one CRA account to another. T2151 transfer form is used when there is a balance owing on one account, and the taxpayer would like to have the balance transferred to another account.

The T2151 form pdf can also be used to request a refund of overpayment from one CRA account to another. For example, if a taxpayer has overpaid their taxes and would like the overpayment refunded to their spouse's account, they would use this form.

How to Fill Out a T2151 Form?

If you are looking direct transfer of a single amount under subsection 147(19), the T2151 fillable is the way to go. This form must be completed by the applicant and should be sent to the financial institution that holds the plan from which the funds are being transferred. The form must also be signed by the transferor (the person who is transferring the funds).

• Applicant section of the form requires the name, address, and contact information of the person requesting the transfer.
• Section titled "Transfer from a DPSP" requires the name and address of the financial institution from which the funds are being transferred, as well as the account number from which the funds will be withdrawn. 
• Section titled "Transfer from an RPP" requires the name and address of the financial institution from which the funds are being transferred, as well as the account number from which the funds will be withdrawn.
• The "Transfer's Certification" section of the form must be signed by the applicant and must include the date on which the transfer is being requested.

How to submit a T2151 form?

After you fulfill the form, you should submit it to CRA. You could do this by mail or by fax. If you are completing the form online, you should create an account with the Canada Revenue Agency. You could do this by going to CRA website and clicking on “My Account” button.

If you filling out a T2151 by mail, you should download it from CRA website. Once you download the form, you will need to fill it out and mail it back to the address on the form. Once CRA has received your form, they will process the transfer, and the amount will be transferred to the other person’s social insurance number.

What are the government organizations that work with T2151?

T2151 Direct Transfer of a Single Amount Under Subsection is commonly used by government organizations, like federal, state, and local governments.