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Do I pay a fee for withdrawals?

You do not pay a fee to withdraw funds from Non-Registered or Tax Free Savings (TFSA) accounts.

However, a partial or full de-registration fee may apply on withdrawals from a Registered Retirement Savings Plan (RRSP) account, as well as from unscheduled Registered Retirement Income Fund (RRIF) payments. The fees range from $50 to $125 depending on the custodian of your account and your account type. Please contact us for more information regarding your specific account.

You should also be aware that withdrawing funds from RRSPs will be treated as income by the CRA. Also, TFSA withdrawals are added to your TFSA contribution room the year following the withdrawal.

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