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 Post subject: Spousal RRSP withdrawal
PostPosted: Sat Jan 27, 2007 8:28 pm 
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Joined: Tue Aug 01, 2006 9:47 am
Posts: 232
Just curious to know if anyone can answer:

I have already withdrawn 20,000 from my personal RRSP as a downpayment to our house.

I also contribute to a spousal RRSP on behalf of my wife and we were planning to withdraw from her RRSP an amount sufficient to cover the closing costs, but I am not sure if my wife can withdraw from the spousal because my name is on it, and I have reached the maximum.

Any comments appreciated.


Last edited by Ian and Franca on Tue May 15, 2007 3:20 pm, edited 1 time in total.

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PostPosted: Sun Jan 28, 2007 9:13 am 

Joined: Fri Feb 17, 2006 9:14 am
Posts: 674
Get some good advice from whomever administers your spousal RSP. There are rules that stipulate how long the money must be in the spousal RSP without being attributed to the contributor on withdrawal (generally not before Jan 1 of the third calendar year after the contribution.)


Hunter Obee
Sales Representative
Royal LePage Meadowtowne Realty
Diamond Award Winner - Top 3% in Canada

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