“Is there a fee when you redeem part of your RRIF for cash?”
Submitted by: Sorin I.
Fees associated with your Registered Retirement Income Fund (RRIF) vary depending on:
- where you open your RRIF
- the type of RRIF you hold
- the amount of money in your RRIF
- how you invest your money
- the level of management you want.
Contact your financial institution to understand the fees you will pay, and learn more about RRIF fees on GetSmarterAboutMoney.ca.
If you are withdrawing more than the minimum annual withdrawal, you will pay withholding tax on the excess amount. The tax rate depends on the amount in excess of the minimum amount withdrawn. Learn more about making withdrawals from your RRIF.