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Self-directed/brokerage RRSP that allows electronically transferring funds from another RRSP

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  • Feb 10th, 2023 5:57 pm
[OP]
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Jun 4, 2013
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Self-directed/brokerage RRSP that allows electronically transferring funds from another RRSP

I'm looking to setup a brokerage RRSP account with an institution which allows electronically transferring in funds from another RRSP. Any good recommendations?

Currently setup with RBC Direct Investing and it's such a hassle. They ask you to print and mail the form. Since I'll be doing this on a regular basis to move funds from employer provided RRSP (they allow this), I need an easier and more convenient way to do this.
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Sep 24, 2022
4 posts
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All of them will. It's a CRA regulatory compliance requirement to transfer from another registered account - has to be on some derivative of a T2151 or T2033 (depending on the specific circumstances).

At minimum, you can use an electronic signature that you draw, but it still has to be on that form, and it still has to be manually reviewed and performed by an actual human at the broker. None of them will allow you to do this as completely self-service as the brokers (on both ends) will get into major crap with the CRA (as well as their regulators and compliance teams) if a registered account transfer is done incorrectly.
Deal Fanatic
Jan 19, 2017
8127 posts
4745 upvotes
muscan wrote: I'm looking to setup a brokerage RRSP account with an institution which allows electronically transferring in funds from another RRSP. Any good recommendations?

Currently setup with RBC Direct Investing and it's such a hassle. They ask you to print and mail the form. Since I'll be doing this on a regular basis to move funds from employer provided RRSP (they allow this), I need an easier and more convenient way to do this.
The transfer form is required by the gov't. No way around it.
[OP]
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Jun 4, 2013
479 posts
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ml88888888 wrote: The transfer form is required by the gov't. No way around it.
The form RBC had me fill out was not the government form though. Their form collected the same info electronically but in the end asks me to print it out and mail it to them. Are you saying the form has to submitted manually?
Deal Fanatic
Jan 19, 2017
8127 posts
4745 upvotes
muscan wrote: The form RBC had me fill out was not the government form though. Their form collected the same info electronically but in the end asks me to print it out and mail it to them. Are you saying the form has to submitted manually?
which form?
Deal Addict
Apr 29, 2018
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Pretty sure Questrade does. IBKR doesn't iirc
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