Scotia Itrade RRSP to RIF
I turned 70 in late 2019 and need to convert my RRSP at iTrade to RIF. I called Scotia itrade but was on hold for a long time and gave up. I sent them a secure email a week ago and no answer.
My research shows that I have to open a new RIF account at any financial institution and then transfer my RRSP assets from iTrade to the new RIF.
Can someone confirm if this process is correct?
Thank you in advance to all who help
My research shows that I have to open a new RIF account at any financial institution and then transfer my RRSP assets from iTrade to the new RIF.
Can someone confirm if this process is correct?
Thank you in advance to all who help