Form 8891: How to handle bank RRSP transfer fee

nelsona · Post by **nelsona** » Fri Mar 11, 2011 4:43 pm

This is not early withdrawl of rrsp. This is the penalty for early collpse of a GIC or CD. I was not sure if this was wha this fee was. if it wasn't then this line doesn't apply.

Btw, you are going to get this fee credited with your new RRSP manager right? They all do this. There shouldn't have been a fee in the first place.

tomcat · Post by **tomcat** » Fri Mar 11, 2011 6:10 pm

Hi, Nelsona... That's the hope, that Bank 'B' will reimburse the fee. They did so for a couple of transfers from Bank 'A' two years ago, and our local banker thinks that their not having done so last year was an oversight and that they'll look to get the fees reimbursed. On the transfer confirmation note supplied by Bank 'A', the CDN$ 100 was clearly marked "Transfer fee".

Cheers, and thanks again for the advice.