Transfers
These are RRSP contributions an individual makes by transferring eligible income to their own RRSP. The contributions are not dependent on the individual’s RRSP deduction limit, but rather on the eligibility of the income being transferred. The following describes the types of eligible income received by an individual that can be transferred to the individual’s own RRSP under certain conditions.
Services and information
- Retiring allowance
Find out the definition of a retiring allowance and how it can be transferred - Commutation payment from a matured RRSP
Information on what a commutation payment is, how to transfer the payment, and what form to use - Excess amount from RRIF
Find out what an excess amount from a RRIF is, how it must be transferred, and what form to use - Refund of premiums from an RRSP
Find out the definition of a "refund of premiums" and where a refund of premiums can be transferred to - Eligible amount of a designated benefit from a RRIF
Find out the definition of a designated benefit and how to transfer it to an eligible plan or fund - Lump-sum payment from a non-registered pension plan
Information on what a lump-sum payment is and what part of the payment is not eligible to be transferred - Certain lump-sum payments from a foreign retirement arrangement
Information on the taxable payment from certain United States Individual Retirement Accounts (IRAs), the limit of the transferred payment, and how this lump-sum payment can be transferred - Eligible income from a testamentary trust
Find out certain conditions a beneficiary must meet to transfer the designated amount to an RRSP
Forms and publications
- Form T2030, Direct Transfer Under Subparagraph 60(l)(v)
- Form T2033, Direct Transfer Under Subsection 146.3(14.1), 147.5(21) or 146(21), or Paragraph 146(16)(a) or 146.3(2)(e)
- Form T2220, Transfer from an RRSP, RRIF, PRPP, or SPP to Another RRSP, RRIF, PRPP or SPP on Breakdown of Marriage or Common-law Partnership
- Income Tax Folio S2-F1-C2, Retiring Allowances
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