# RRSP via company's share plan



## kasko (Nov 28, 2009)

can anybody please provide an advice to my situation below:
i have around 60k in RRSP which i have via company's plan. i want to sell the stock and buy something different. since company's plan is administered via solium and my personal TFSA via questrade i would like to open up a RRSP acount with questrade as well and continue an investment there. question is what will be the best scenario so there is no taxation. thank you for your advice.


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## slacker (Mar 8, 2010)

RRSP Transfer In Cash


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## P_I (Dec 2, 2011)

To make sure that it is transferred tax free you need to use T2151 - Direct Transfer of a Single Amount Under Subsection 147(19) or Section 147.3


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## kasko (Nov 28, 2009)

Thank you very much P_I and Slacker. I appreciate your help.


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## slacker (Mar 8, 2010)

P_I said:


> To make sure that it is transferred tax free you need to use T2151 - Direct Transfer of a Single Amount Under Subsection 147(19) or Section 147.3


I have always used t2033 instead:

http://www.cra-arc.gc.ca/E/pbg/tf/t2033/t2033-11e.pdf

I have never used t2151 for transferring from 1 RRSP account to another.


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## slacker (Mar 8, 2010)

slacker said:


> I have always used t2033 instead:
> 
> http://www.cra-arc.gc.ca/E/pbg/tf/t2033/t2033-11e.pdf
> 
> I have never used t2151 for transferring from 1 RRSP account to another.


For RRSP to RRSP transfer, I believe T2033 is the correct form.

T2151 appears to be for for transferring from DPSP, RPP, or SPP to RRSP.


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## MoneyGal (Apr 24, 2009)

Just a quick note - you don't *have* to sell the shares in your RRSP prior to transfer. You may want to check the cost of the sale in your current RRSP and in your preferred RRSP. You should be able to transfer the shares over "in kind" versus "in cash" -- the second option will force a sale.


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## P_I (Dec 2, 2011)

slacker said:


> For RRSP to RRSP transfer, I believe T2033 is the correct form.
> 
> T2151 appears to be for for transferring from DPSP, RPP, or SPP to RRSP.


Thanks for pointing out the difference. I'd used T2151 many moons ago and Google turned up the CRA link. I missed that the OP was doing a RRSP to RRSP transfer.


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## slacker (Mar 8, 2010)

MoneyGal said:


> Just a quick note - you don't *have* to sell the shares in your RRSP prior to transfer. You may want to check the cost of the sale in your current RRSP and in your preferred RRSP. You should be able to transfer the shares over "in kind" versus "in cash" -- the second option will force a sale.


Correct, if transfer in kind is possible, then definitely do transfer in kind as you'll save trading commission, as well as trading spread. I made the assumption that whatever investment the OP had in company RRSP will not be available in Questrade. It is the responsibility of the OP to ensure that transfer-in-kind is possible, as your company RRSP company is losing your business, they will help not you correct or follow up on errors.


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## OhGreatGuru (May 24, 2009)

OP refers to this as "Company's Share Plan", which I take to mean the RRSP holds stocks in his employer's company. And he adds that he "wants to sell the stock and buy something different", which would be sensible. So transfer in kind would seem to be a non-starter.


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