Qns.
1. Can I move all of my RRSP from one bank to the other?
2. Would there be any admin fee for that?
3. Can the RRSP be converted to RIF after the age of 50?
KM
Yes you can move your RRSPs from one bank to another, in most of the cases there will be no admin fees.
Seema Makhija, MBA, CGA
Tax & business planning specialist
Thx Seemaji.
KM
of course there will be fees.
there are very few institutions that do not charge transfer out fees.
can you tell me on what basis you are saying there will not be any fees in most cases.
the correct statement shuld have been there will be fees in most cases
Posts: 2873
Location: Western Hemisphere
Posted on: 17-03-10 17:26:37
Location: Western Hemisphere
Posted on: 17-03-10 17:26:37
Quote:
Originally posted by OneIsACrowd
of course there will be fees.
there are very few institutions that do not charge transfer out fees.
can you tell me on what basis you are saying there will not be any fees in most cases.
the correct statement shuld have been there will be fees in most cases
Agree. Most likely than not, the relinquishing institution will charge a transfer out fee which could be as high as $110. In the event of a transfer into a full service brokerage, there is a possibility the receiving institution may absorb that cost if the transfer amount is worthwhile.
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Dimple2001
