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For Your Information More RRIF and RRSP questions answered

More RRIF and RRSP questions answered

In a recent article about mandatory RRIF withdrawals you mentioned the option of transferring shares “in kind” from a RRIF to a non-registered account. Does that option exist for transferring shares from a registered retirement savings plan (RRSP) to a non-registered account?

Yes, in-kind withdrawals are permitted for RRSPs. However, withholding tax will be assessed on the full amount of the RRSP withdrawal, whereas with RRIFs only the amount over and above the minimum mandatory annual withdrawal will be subject to withholding tax.

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