# can you directly contribute USD to an RRSP?



## llagebs (Feb 24, 2014)

Right now I'm getting paid in USD. It gets wired to a USD chequing account at RBC. I also have an RRSP with RBC. My goal is to buy some US listed ETFs in my RRSP. Since you can hold USD in your RRSP, I'm wondering if it's ok to transfer USD from my chequing account directly to my RRSP without any CAD conversion? After all, RRSP contribution limits are denominated in CAD.

The alternative is pretty silly:

- transfer USD to taxable investment account
- do Norbert's Gambit to swap USD to CAD
- contribute CAD to RRSP
- do Norbert's Gambit to swap CAD to USD


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## Moneytoo (Mar 26, 2014)

Google says you can: http://www.rbcdirectinvesting.com/us-dollar-plan/faqs.html

_Can I contribute to the U.S. dollar side of my account from my banking, chequing or savings accounts held with RBC where I hold U.S. dollars?

You can contribute directly from your chequing or savings U.S. dollar bank account held at RBC into the U.S. dollar side of your account (excluding RESPs)._

The smarter alternative would be to call and double-check...


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## llagebs (Feb 24, 2014)

It didn't occur to me to simply check RBC's website. Good find!

I did google before posting, but using slightly different keywords just turned up this article, which explicitly says you can contribute USD to your RRSP at RBC. Your contribution limit is lowered by the equivalent CAD value using that day's exchange rate. Nice and easy.

http://www.moneysense.ca/columns/holding-us-dollars-in-registered-accounts


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## Abbie Darcy (Apr 10, 2014)

llagebs said:


> It didn't occur to me to simply check RBC's website. Good find!
> 
> I did google before posting, but using slightly different keywords just turned up this article, which explicitly says you can contribute USD to your RRSP at RBC. Your contribution limit is lowered by the equivalent CAD value using that day's exchange rate. Nice and easy.
> 
> http://www.moneysense.ca/columns/holding-us-dollars-in-registered-accounts


Thanks for your great answer. I have seen this link. It is really helpful.


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