Withdrawal Discussions, Offers & Promotions

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  • Early Withdrawal - Defined Contribution Pension Plan

    I found out I cannot withdraw early unless I am terminated by my employer. My question is can I withdraw early if I resign and leave the company? Or is it only allowed if I am terminated?

    • Clarksdb
    • Apr 9th, 2022 12:16 am
    • Forum: Personal Finance

  • Pension withdrawal - lump sum investment advise

    After leaving my last job I opted to take out the commutative value of my pension (defined benefit). I have received these funds yesterday and part of the funds are locked in LIRA and other I have moved in RRSP and TFSA. Total amount is around $400,000. I was thinking to invest these funds in either...

    • Salute
    • Feb 1st, 2022 6:56 am
    • Forum: Investing

  • Tangerine daily ABM withdrawal limit missing

    I used to be able to raise the daily limit to 5000$. Now I can't find this feature anymore. Have they removed it?

    • it.beaulieu
    • Jan 13th, 2022 12:16 am
    • Forum: Personal Finance

  • RESP Withdrawal Amounts

    ... had about $42k each. In September we withdrew $5000 (the max during the first 13 weeks of school) from our daughters plan. Apparently we can now withdrawal an unlimited amount (post 13 weeks and new tax year). From reading at TD, it seems smart to withdrawal the EAP portions first since we already ...

    • Drakestar
    • Dec 30th, 2021 10:57 am
    • Forum: Personal Finance

  • Which Canada-Based USD Account allows USD Cash withdrawal from an ATM in Canada

    ... to the Café in downtown Montreal it was closed for revocation. I did some research and it seems that CIBC US$ Personal account allows USD Cash withdrawal at an ATM in Canada for $0.75 fee. Does anyone have experience with CIBC? You can actually do many types of transactions with it. This looks ...

    • radiko
    • Dec 26th, 2021 10:32 pm
    • Forum: Personal Finance

  • How To calculate Capital Gain after in-kind stock withdrawal from RRIF to non-registered a/c then subsequent sale

    Example: 1. Let’s say bought 1000 CIBC at $100 (book value or average cost) = $100000 2. Did in-kind 1000 CIBC stock withdrawal from RRIF to non-registered account at $125 (market value) = $125000 3. A year later sold 1000 CIBC at $150 = $150000 Is the capital gains $50000 or $25000? ...

    • User185269
    • Nov 24th, 2021 8:53 am
    • Forum: Personal Finance

  • CIBC RRSP Spousal Withdrawal

    I use CIBC Investor's Edge Self Directed Account in Ontario. If we withdraw $ from my Wife's spousal RRSP (I am the contributor) does it have to be transferred out to a CIBC bank account solely in her name? Or can I just put it directly into our joint chequing account (which I what I use to contribu...

    • ronatola
    • Oct 16th, 2021 3:46 pm
    • Forum: Personal Finance

  • RDSP withdrawal

    Does anyone understand how withdrawals from an RDSP work? I'm trying to see wether it makes sense withdraw or not and what the implications would be. In 2010 I made a contribution of $1,500. The government made a contributions totalling ...

    • quacktacular
    • Jul 27th, 2021 11:08 am
    • Forum: Personal Finance

  • Strategy for Withdrawal Tax on RRSP Excess Contributions

    I have made excess contributions in RRSP. I do not have room for 2021 as I have started working in US since 2020. All the excess contributions was made in last few days only. To withdraw the excess cash, their is 10% tax up to 5 K, 20% from 5-15 K and 30% on above 15 K. My amount is 20 K. So if I wi...

    • vivmk20
    • Apr 6th, 2021 3:16 pm
    • Forum: Investing

  • What does "Date Withdrawal Required" mean on the RRSP withdraw form?

    ... at this form for withdrawing from RRSP, it's straightforward enough, however I am finding it difficult to understand the meaning of "Date Withdrawal Required" in part c . What does that even mean? The closing date? The date we agreed to the deal? Today because I require the money ...

    • mtlswing
    • Mar 23rd, 2021 3:54 pm
    • Forum: Real Estate

  • question: RSP Contribution at deadline, withdrawal afterward?

    Hi, I made a 15k contribution on Feb 25 in order to reduce my 2020 taxable income. I did a web search but couldn't find the easy answer: Is there a holding period if I want to withdraw cash now? (There's a scenario where I can withdraw but replace the funds in a few months). I see there is a 90 day ...

  • RRIF withdrawal mistake mistake by iScotia?

    My minimum RRIF withdrawal percentage based on my age is 4.76%. Scotia paid me the RRIF amount which works out to 4.756%. This is a small percentage difference but will I get into trouble with CRA for withdrawing less than the minimum ...

    • fhirji
    • Feb 15th, 2021 10:29 am
    • Forum: Personal Finance

  • TFSA USD Withdrawal 2020, redeposit in 2021 CAD

    1) If i withdrew from TFSA in USD in 2020 , how do I calculate contribution room, I assume it has to do with BoC Exchange Rate as of the date of withdrawal. 2) But, in order to avoid getting dinged for overcontribution due to miscalculations, does the myCRA have records of the withdrawal and record ...

    • Sedul
    • Jan 30th, 2021 11:06 pm
    • Forum: Investing

  • DCPP withdrawal rules Canada at age 55

    Hi, I want to withdraw amount from DCPP contribution at age 55 due to some emergency. Can I withdraw at age-55 and what will be the procedure and How much percent can withdraw from my contribution? Please advise. Thanks,

    • shakilhyd
    • Jan 6th, 2021 11:49 pm
    • Forum: Personal Finance

  • TD and minimum RRIF withdrawal

    My mom is complaining that she went online to TD today to do her annual minimum RRIF withdrawal, taking into account the 25% COVID reduction that the CRA is offering, only to find that TD already did it 3 days ago without the 25% reduction. She has always done the ...

    • Scote64
    • Dec 18th, 2020 4:30 pm
    • Forum: Personal Finance

  • Early Withdrawal of RRSP for Non-Resident (Hong Kong)

    Hi there, I have an RRSP account in with Scotia Bank and the money has been sitting there for a few years. Now that I have moved back to Hong Kong and having declared already as a non resident for the Canadian tax, I am thinking of withdrawing all the money from my RRSP account and essentially closi...

    • ballboy168
    • Nov 7th, 2020 12:57 pm
    • Forum: Personal Finance

  • Which RESP discount brokerage has no withdrawal fees?

    Can anyone confirm which discount brokerage has no RESP withdrawal fees?I know that Questrade has a partial withdrawal fees of $50. Anyone has experience with the bank brokerage and if they have any withdrawal fees?

    • chico_001
    • Oct 21st, 2020 11:42 am
    • Forum: Personal Finance

  • Spousal RRSP withdrawal for buying a house - tax consequences ?

    I am planning to buy a house and want to know how i will be affected by withdrawing from an spousal rrsp to pay for a downpayment as first time home buyer. We are both first time home buyers. My wife doesn't work so she has low/zero income. I put in around 11k into my wifes spousal rrsp in July 2019...

    • 416thesix
    • Sep 26th, 2020 12:44 pm
    • Forum: Personal Finance

  • How to increase withdrawal limit of PC Mastercard?

    Hi, I am stuck with this card for a while and they only allow me to withdraw about 450 cad. Is it possible to increase it? Because otherwise I get hit by fees by both parties twice. When you press fast X money from the ATM, is it actually processing using the credit card option? Because when I choos...

    • lachdanan
    • Sep 23rd, 2020 9:00 am
    • Forum: Personal Finance

  • RESP Withdrawal - Keep it or take it out?

    Hi Folks, Looking for an advice on RESP withdrawal. My daughter got accepted in University and its time to take out RESP money. She already got few scholarship and OSAP grant so we do not need RESP fund right away. But, just wondering is it ok ...

    • jaggu2001
    • Sep 15th, 2020 3:15 pm
    • Forum: Personal Finance

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