▲ 3 r/Questrade
Internal Transfer from FHSA to RRSP (RC721?)
On the official Questrade website, it mentions that we can simply just transfer funds from our FHSA to our RRSP (provided they are both on Questrade) without triggering a taxable event.
However, I spoke to a CRA representative and they mentioned that without filling out RC721, this transfer would be considered a withdrawal and therefore taxable.
I also noticed that on Wealthsimple, to do such a transfer (even internally) would also require RC721 to be filled out.
Does Questrade automatically fill out RC721 and file it to the CRA? Or is there something that I'm not considering?
Also, how long would this transfer take?
u/bertrambees — 3 days ago