# does RRSP & or TFSA have to stay in a Canadian instutution



## lonewolf (Jun 12, 2012)

Was thinking of buying Swiss annuities from a Swiss insurance company in Switzerland holding USD & CAD can RRSP or TFSA money be used while still staying in RRSP & TFSA ?

Thanks


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## Eclectic12 (Oct 20, 2010)

If the money is staying the registered account ... TFSAs have generally the same limitations as RRSP, where for an RRSP:


> certain annuities, if purchased from a licensed annuities provider


http://www.taxtips.ca/rrsp/qualifiedinvestments.htm

Or from CRA:
http://www.cra-arc.gc.ca/E/pub/tp/it320r3/it320r3-e.html


I suspect the limiting factor is going to be if any financial institution that offers the registered account also allows the purchase (and whether it's at a reasonable cost) of foreign annuities.


Cheers


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## lonewolf (Jun 12, 2012)

Just read on line retirement accounts in United States can hold Swiss Annuities held in Switzerland, Canada ?


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## gt_23 (Jan 18, 2014)

lonewolf said:


> Was thinking of buying Swiss annuities from a Swiss insurance company in Switzerland holding USD & CAD can RRSP or TFSA money be used while still staying in RRSP & TFSA ?
> 
> Thanks


Yes they do...why would a foreign institution offer an account type that doesn't apply to anyone in that country and therefore, there is no market for?

If you want to hold a foreign instrument inside these accounts held with a Canadian broker or custodian, then you need to contact them to see if they allow it.


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## Eclectic12 (Oct 20, 2010)

lonewolf said:


> Just read on line retirement accounts in United States can hold Swiss Annuities held in Switzerland, Canada ?


From what little I've been able to find ... the key is having a licensed provider (see post #2).
I'm thinking it's similar to Israel Bonds where it appears that these are okay in an RRSP or TFSA as there a Canadian provider, Canada-Israel Securities, Limited.

With so few posts ... I suspect the next step is to try calling CRA or someone with experience in the annuities business.


Cheers


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