Are transfers from a RPP to a RRSP still subject to the 89 day rule under the HBP since this not considered a "contribution" but a "transfer"?

sthibau1 · ‎October 31, 2019

TurboTaxMary-Ann1 · ‎October 31, 2019

Yes, transfers from an RPP to an RRSP are subject to the 89-day rule.

sthibau1 · ‎October 31, 2019

I have spoken with 3 CRA workers and they all tell me it does not apply since it is not new money and is not eligible for deductions to begin with (as the 89 day rule is in regard to contributions that can be deducted from your income). Two sounded not as confident as the other. I have had multiple financial advisors say it is fine and one accountant say it needs to be in there for 90 days. So I am a bit confused!

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Are transfers from a RPP to a RRSP still subject to the 89 day rule under the HBP since this not considered a "contribution" but a "transfer"?

Are transfers from a RPP to a RRSP still subject to the 89 day rule under the HBP since this not considered a "contribution" but a "transfer"?

Are transfers from a RPP to a RRSP still subject to the 89 day rule under the HBP since this not considered a "contribution" but a "transfer"?

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Are transfers from a RPP to a RRSP still subject to the 89 day rule under the HBP since this not considered a "contribution" but a "transfer"?

Are transfers from a RPP to a RRSP still subject to the 89 day rule under the HBP since this not considered a "contribution" but a "transfer"?

Are transfers from a RPP to a RRSP still subject to the 89 day rule under the HBP since this not considered a "contribution" but a "transfer"?

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