Transfer In-Kind to TFSA

[Eclectic12]

Sorry, but didn't Revenue Canada stop in kind contributions, when they put an end to swapping assets between accounts, or was it just swaps that they put an end to? RBC would not let me do an in kind contribution from my taxable account to my TFSA earlier this year.

This link says swaps only were affected.

One question I fielded recently about these changes was the impact of making an in-kind contribution from an open account to a TFSA. The answer is none.

http://blog.taxresource.ca/what-the-...rules-prevent/

As for RBC, what type of investment to what type of TFSA?
Their web site for both bank and brokerage list "in kind" contributions as being allowed.
So one possible issue is that the TFSA isn't setup to hold the investment being transferred.
An example would be trying to contribute "in kind" a stock to a TFSA that only allows MFs.


Cheers

[Eclectic12]

It was just swaps, as far as I know.
A simple in kind contribution should be ok.

Everything I've read says the same - swaps are banned, in-kind contributions are allowed for a TFSA.

As for RBC not allowing it - maybe it's an account issue. My broker allows in-kind contributions but if the TFSA account is for MFs, I'm pretty sure they won't accept a REIT or stock for that account. I'd followup with RBC.


Cheers