Consolidating and Simplifying

[brad]

actually, the opposite is true. At tdw, gambitting is easiest in rrsp.

Brilliant, thank you so much. This is great news and I will go ahead and open a US account.

[brad]

you might have to bite the bullet & open the US side of your non-registered tdw account after all. When you receive your USD cheque, deposit it into this non-reg'd account & buy US money market fund with the funds.

Question: Since every penny of the USD inheritance cheque will be used for my RRSP (I have more than enough contribution room), is it possible for me to open a USD account within my RRSP and deposit it there? And then simply use those funds to buy USD-listed ETFs? Then I wouldn't even have to bother gambitting -- I'd just use that as my pool of money for buying ETFs that trade in US dollars.

[humble_pie]

Question: Since every penny of the USD inheritance cheque will be used for my RRSP (I have more than enough contribution room), is it possible for me to open a USD account within my RRSP and deposit it there? And then simply use those funds to buy USD-listed ETFs? Then I wouldn't even have to bother gambitting -- I'd just use that as my pool of money for buying ETFs that trade in US dollars.

i thought the answer would be No & i did just check w em & the official answer is No. The rrsp can't accept a USD cash or cheque deposit.

the rep reiterated what we've discussed. Make sure the USD side of non-registered account is open. I think it probably does exist, although it's never been used, but you'd have to phone them to verify. While on this phone call, also enrol the rrsp in what tdw calls rrsp USD auto-washing.

then deposit the cheque into non-reg'd USD account. Buy USD MMF. Make a contribution in kind of this MMF holding into the rrsp.

& that's how we get
the house
that Jack built.

[brad]

Thank you once again!