Investing

No way to swap different currency in/out of RRSP, correct?

  • Last Updated:
  • Sep 16th, 2021 11:04 am
[OP]
Deal Addict
Jan 31, 2007
3885 posts
3730 upvotes
Richmond Hill

No way to swap different currency in/out of RRSP, correct?

Here is my issue:
- I have RRSP account that only hold CAD ETF and TD e-Series fund right now.
- I have some USD in non-register account (Cash).

What I actually want is put my USD into RRSP account to buy USD ETF inside my RRSP account, and hold CAD ETF in my non-register account.

There is no way to swap asset between RRSP and Non-Register account. Correct?

I play with the FX tool, it look like if I sell my CAD ETF in RRSP account, convert to USD and buy USD ETF. Than I use my USD Cash convert to CAD to buy CAD ETF in my non-register account. It will cost me approx. 2.6% in currency exchange.
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Bright side of RFD: Often find good deal
Dark side of RFD: Tons of stuff that I don't need but still got them because of RFD
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4 replies
Sr. Member
Oct 20, 2014
579 posts
274 upvotes
Trenton, on
Ask broker to open a USD RRSP for you. If you are with TD, you buy TDB166 from within CAD RRSP or other CAD holding accounts and transfer to USD RRSP.
Deal Addict
Jul 13, 2007
1137 posts
628 upvotes
Toronto
It might make sense to buy something with your USD cash in your cash account, and then in-kind transfer or securities transfer that into your RSP, which is free to do.

Then the trading commission won’t come out of your rsp.

At least that’s how it works at TD.

That’s if you’re contributing.

I don’t think you can swap assets anymore, but I think you could back in like 2009, as long as the value wasn’t changing, they didn’t treat it as a withdraw/contribution.

If you can’t do that, and you need to exchange funds, look into Norberts gambit to swap currencies for almost free.
Deal Expert
User avatar
Dec 12, 2009
23618 posts
12806 upvotes
Toronto
I don't believe you can do asset swaps in the RRSP account. Anything going in would be a contribution and anything going out would be a withdrawal.
Last edited by will888 on Sep 16th, 2021 11:32 am, edited 1 time in total.
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[OP]
Deal Addict
Jan 31, 2007
3885 posts
3730 upvotes
Richmond Hill
Ok, Thanks. So can't be done is the short answer.
******************************************************
Bright side of RFD: Often find good deal
Dark side of RFD: Tons of stuff that I don't need but still got them because of RFD
******************************************************

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