Know your options
All funds in your Canada RSP or Canada RIF reached maturity and no longer earn interest. However, your plan remains accessible to you and your funds are safe and guaranteed.
Choose an option for your Canada RSP or Canada RIF plan.
As a plan holder, you can transfer funds from your Canada RSP or Canada RIF to another registered retirement savings vehicle without penalty.
To initiate the transfer, visit your financial institution or RSP administrator.
Contact Customer Service to redeem the funds held in your plan. If you withdraw funds from your Canada RSP or Canada RIF:
- Your withdrawal will be subject to a withholding tax.
Canada RIF owners may choose to count their withdrawal as part of their annual minimum payment for tax purposes.
- You will need to declare the proceeds as income for the year in which they are withdrawn.
Getting your statements
- Annual statements for Canada RSP plan holders are mailed as of December 31.
- Annual statements for Canada RIF plan holders are mailed as of December 31 — includes payment details for the following year.