Can spousal RSP be transferred to same planholder's spousal RSP account with different financial institution

Search this thread

Last Updated:
Feb 2nd, 2017 8:33 pm

Tags:

SCORE

Reply to ThreadReply

Search this thread

Feb 1st, 2017 10:18 pm

weihw [OP]: Member; Jun 16, 2004; 309 posts; 10 upvotes; Downtown Toronto

Feb 1st, 2017 10:18 pm

Can spousal RSP be transferred to same planholder's spousal RSP account with different financial institution

Can I ask spousal RSP to transfer to different financial institution? planning to ask see if I can transfer my spousal RRSP to different financial institution to do investment.but don't know how this will work.

any advise will be welcomed. thanks.

Last edited by weihw on Feb 1st, 2017 10:18 pm, edited 1 time in total.

5 replies

Feb 1st, 2017 11:04 pm

Jordanwaldman: Newbie; Jan 31, 2017; 1 posts

Feb 1st, 2017 11:04 pm

Yes you can, it is an easy transfer. Ask your new advisor or institution to help you through it. You will need a T2033 from to complete it.

Feb 1st, 2017 11:52 pm

lingecw: Member; Jan 21, 2012; 432 posts; 186 upvotes

Feb 1st, 2017 11:52 pm

Yes, you can transfer your spousal RRSP account to a different financial institution. Open an account in the institution you would like your spousal RRSP to be transferred to, and fill out the transfer form. Depending on the value of your account, the new institution may reimburse you the transfer fee.

Feb 2nd, 2017 7:02 am

Sauerkraut: Deal Addict; Jan 4, 2009; 4004 posts; 2871 upvotes; NOT on the links!!

Feb 2nd, 2017 7:02 am

weihw wrote: ↑planning to ask see if I can transfer my spousal RRSP to different financial institution to do investment.but don't know how this will work.

At the risk of being accused of pedantry, your spouse is the planholder so he/she must initiate the transfer. Unless there's a POA in place, you don't control the funds.

Feb 2nd, 2017 9:47 am

weihw [OP]: Member; Jun 16, 2004; 309 posts; 10 upvotes; Downtown Toronto

Feb 2nd, 2017 9:47 am

Sauerkraut wrote: ↑ At the risk of being accused of pedantry, your spouse is the planholder so he/she must initiate the transfer. Unless there's a POA in place, you don't control the funds.

i understand that,plan holder have to initiate the transfer for sure.

just wondering if spousal RSP can transfer to same planholder's spousal RSP account with different financial institution. that's my question, maybe didn't ask clearly.

Feb 2nd, 2017 8:33 pm

georvu: Deal Fanatic; Feb 4, 2015; 6679 posts; 2996 upvotes; Canada, Eh!!

Feb 2nd, 2017 8:33 pm

Absolutely can. The forms should be online on either financial institution site.

Check first if any fees and then have new fin inst agree to refund

.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.

Reply to Thread

Top