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What are my options when my RSP must be converted/ terminated?

There are three options available:    

1) Convert the balance to a Retirement Income Fund (RIF). If you convert to a RIF with TD Direct Investing, you must complete the New Account Application Form (NAAF)*

2) Withdraw and pay tax on the entire balance remaining in the plan   

3) Use the balance to purchase an annuity from  an insurance company   

 This must be done by the end of the calendar year that you turn 71.   

 *New Accounts can be opened in person at any TD Direct Investing location or TD Canada Trust branch.

 To set up an appointment at your convenience, please call a TD Direct Investing location or a TD Canada Trust branch.

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