I have plan to invest in RRSP for tax Saving. But looking for the bank where I can withdraw my RRSP fund Online/by calling to customer service/ by writing letter and ask for depositing in my regular checking account.

Anyone have an idea about withdrawal of RRSP fund without physical presence?

I'll have to withdraw my RRSP fund when I won't be in Canada and income of that year will be very low.

Thanks in Advance...

-----------------------------------------------------------------
Success is Never Ending and Failure is Never Final.

You will need phone contact at the very least.
You have to fill out and sign a de-registration form and mail to your contact at the bank.
If it's a standard chartered bank (like th big 5), your contact will usually be at a branch.
If it's an online only account (like E-Trade or PCF), then there should be a mailing address where you can send the form.

I don't think you need physical presence to de-register RRSP, but I could be wrong.

-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

Thanks patrikm.

What about RRSP Saving/GIC account at bank? (CIBC/TD/Scotia etc)
Anyone have an idea?

-----------------------------------------------------------------
Success is Never Ending and Failure is Never Final.

Quote:

---

Originally posted by meitsme
What about RRSP Saving/GIC account at bank? (CIBC/TD/Scotia etc)
Anyone have an idea?

---

-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

I use ING bank for my RRSP. My ING Bank account is connected to me chequing account. I am able to withdraw my RRSP (subject to the withholding tax) and deposit it into my chequing account online.
At the end of the year ING sends you the statement for Tax by mail. If I am not mistaken, you can print it online too.
So try to transfer it in to ING bank while you are still in Canada. Just join ING bank and they have a form through which you can transfer your RRSP to ING bank and they do give you great interest.
Like wise you can start your Tax free savings account in ING bank too
Hope this helps.
ING is a member of CIPF or CIDC and thus all investments upto $100K are insured.

Peace by TK

-----------------------------------------------------------------
I am a Gents and not a Ladies.

When you take money out of RRSP's, and when you withdraw upto a sum of $5000.00, the tax with held is 10% of the withdrawal amount. But if you withdraw over above that, say a sum of 5001, then the withholding tax jumps to 15% .

If you withdraw say $10,000.00 in a year, and you do not have any other "World" income, then, you can file a tax return and claim all of the taxes paid into the CRA for that year. Now you have the total withdrawal of $10,000.00.

That is called tax planning.

Hope this helps you a little.

Freddie.

Are you in Barbados or Bahamas?

Thanks guys.

TK, Can I open RRSP account online with ING? Can I ask them to link my CIBC checking account for withdraw/deposit?

ftfl, why only upto $10000?

I think there is no need to pay income tax (OR will get refund) if your family income is approximately about $22000.

I am thinking to withdraw RRSP fund about $22000 - (Income of that year).

Income of that year could be $0. In that case I'll withdraw $22000 (May be 5 txn of <$5000) and expecting to get full tax refund which was deducted at the time of withdraw.

Do you see anything wrong in this plan?

Thanks

-----------------------------------------------------------------
Success is Never Ending and Failure is Never Final.