Suggestions

:speech_balloon:

Early de-registration / melting down of RRSP accounts (prior to mandated RMDs)

I would like to see what happens from a tax-perspective if I move $$ from my RRSP account to my Unregistered account in specific years (earlier than when the government mandates RMDs). ie. Specify amount to deregister (move from RRSP to Taxable Account) in each year, and the associated “deregistration fee”.

My understanding is that the RRSP de-registration concept in Canada is very similar to the “Roth conversion” in the US. Perhaps the “Advanced” options that 401K account have could be available on RRSP accounts?

Related: farrowfinancial.ca/our-blog/rrsp-and-rrif-deregistration-strategy

5 votes

Tagged as Suggestion

Suggested 12 September 2023 by user AB BA